Castik closes Epic II on €1.25bn

The fund held a first close in April 2019.

Monument Group was the placement agent for the fundraise, while Poellath and Arendt & Medernach provided legal advice.

Castik's predecessor vehicle held a final close in July 2015 on €1bn. The fund deployed equity tickets of €100-250m.

Investors
The fund's LP base includes institutional investors from Europe, Australia and North America. LPs in the GP's predecessor fund include the British Columbia Investment Management Corporation (BCI), according to Unquote Data.

Investments
The vehicle will target companies with enterprise values of €200-700m, deploying equity tickets of €100-300m. It will focus on businesses headquartered in Europe. Castik has previously invested in sectors including software, business services and healthcare.

The GP made six investments from its first fund and will aim to make six to seven platform investments from its latest vehicle. The fund will hold its investments for a period of 10 years or longer and will pursue organic growth, as well as organic growth via buy-and-build.

The GP partially sold its stake in UK-based drinking water purifier business Waterlogic in January 2020 in a deal that saw Epic I LP BCI acquire a significant minority stake in the business.

People
Castik Capital – Michael Phillips (managing partner); Marc-Oliver Jauch, Michael Groeber (investment partners).

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