AGIC Capital hits final close on $1bn for debut fund

Launched in March 2015, the vehicle reached a first closing on $550m in August. The GP made its first acquisition in January 2016 when it acquired a stake in machinery supplier KraussMaffei Group for €925m alongside chemical group ChinaChem and investment holding company Guoxin. In June 2016, the fund manager purchased a controlling stake in Gimatic, an Italian manufacturer of robotic components, in a deal valuing the business in excess of €100m.

With a presence in Munich, Beijing, Shanghai and Hong Kong, the GP plans to open a new office in London by Q1 2017.

The GP was founded in 2015 by Henry Cai, former chairperson of Deutsche Bank's corporate finance branch for Asia Pacific, and includes former executives from The Carlyle Group, EQT and One Equity Partners.

Investors
According to a statement, several institutional LPs committed capital to the vehicle. The fund's LP base includes industrial representatives and financial institutions from Europe and Asia, unquote” understands.

Investments
AGIC Fund I’s management team targets investments in European SMEs across several sectors, including industrial automation, robotics, medical equipment and healthcare technologies, Internet of Things, advanced electronic systems, software, nano technology and environmental protection technologies.

With typical investments between €25-150m, the GP targets majority and minority acquisitions as well as secondary buyouts and take private transactions. It aims to invest in European SMEs mainly based in Germany, Austria, Switzerland, Italy, France and the Nordic region, and to boost their international expansion across Asia, with particular regards to the Chinese market.

People
AGIC Capital – Henry Cai (chair); Heiko von Dewitz, Wolfgang Seibold (partners, managing directors).

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