Harald Quandt Industriebeteiligungen (HQIB) and Cadence Growth Capital have backed the merger of Germany-based IT businesses Horn & Cosifan and PK Office.
German footwear company is reportedly valued at around €4bn and drew interest from several PE buyers
Funding will help the studios expand their development pipelines and accelerate global growth
Vendors reportedly sought a valuation of between €800m-1bn for the company
P101 deploys capital from its Programma 102 and Italia 500 vehicles for the deal