Seafort targets up to €250m for third fund

The raise would represent a significant increase on Seafort II, which held a final close on €84m in 2015 and is now fully invested.

Seafort III is expected to launch towards the end of 2018 or the start of 2019, and will be marketed to both domestic and international investors.

The GP has not used a placement agent previously and does not plan to appoint one for Seafort III.

Fundraising in the DACH lower-mid-market has enjoyed a boost in the past year, leading the other European regions over the last 12 months. Unquote explored the factors contributing to this period of outperformance in a recent analysis piece.

Investors
The European Investment Fund approved a commitment to Seafort III in June, according to publicly available documents.

Seafort I and Seafort II were backed entirely by LPs from outside Germany, but this may change for the third fund, according to a source.

Investments
The new vehicle will stick to the same strategy as the previous funds, investing in the buyouts of German companies in the lower-mid-market. It focuses on the industrial and business support services sectors. It will use the extra capital to make more investments rather than larger investments.

People
Seafort Advisors – Patrick Hennings Huep, Torben Mons (founding partners); Johann David Herstatt, Jesko Kornemann (partners).

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