Invision launches sixth buyout fund

Oscar Geen
14 June 2018

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Swiss GP Invision Private Equity has returned to market with its sixth buyout fund, Unquote understands.

The fund was registered in Jersey on 5 December 2017 as Invision VI Limited Partnership.

Invision is expected to reach its €450m hard-cap and will hold a first close before the end of summer.

The target of €400m is an increase on the €285m raised for Invision V against a €250 target in 2013 and the CHF 350m raised for Invision Hospitality in 2015. Invision V exceeded its €250m target and held a final close in July 2013.

The GP then raised Invision Hospitality a special purpose acquisition vehicle with a volume of CHF 350m. The vehicle was used to fund Swiss Education Group, which it sold to Summer Capital this week. Invision originally acquired SEG from fund IV, but transferred it into the SPV in 2015. Under Invision's ownership the number of students increased from 2,500 to 6,000.

The new fund will follow the same strategy as Fund IV and Fund V, but will make an increased 10-12 platform investments.

Invision didn't return requests for comment.

Investors
Invision V attracted commitments from European and US-based investors, including Swiss foundation Nest Sammelstiftung and the New York State pension fund.

Investments
Invision invests in companies headquartered in the DACH region and neighbouring countries with sales between €25-200m. It can provide a variety of financing including buyouts, minority investments and other growth financing. It has experience investing in the consumer, healthcare, technology and industrials sectors.

The new fund will make between 10-12 platform investments and two to three add-ons per platform on average.

People
Invision Private Equity – Frank Becker (managing partner).