HQ Capital has held a final close for Auda Co-Investment Fund (ACF) II on $210m, surpassing its $150m target.
The GP held a first close for the vehicle in June 2020, 12 months before the fund closed on its target.
Bad Homburg-headquartered HQ Capital manages several funds-of-funds and secondaries vehicles focused on Europe, the US and Asia.
In February 2021, the GP registered a GP vehicle (HQ Capital IV GP) for its next two funds, as reported by Unquote.
ACF II has an LP base comprising high-net-worth individuals and investors such as pension funds, insurance companies and family offices. Its LPs are based in Asia, North America, the Middle East and Europe.
ACF II will continue HQ Capital's co-investment strategy, focusing on small-cap and mid-market transactions and targeting buyouts, recapitalisations and growth deals. The fund will generally deploy equity tickets in the $5-10m range, although it can deploy larger tickets when required.
The vehicle will invest in 30-35 companies, focusing around 80% of its capital on North America. The fund had made more than 20 investments at the time of its final close.
HQ Capital – Bernd Türk (CEO); Marc Lohser (Auda Co-Investment Fund II portfolio manager).
Primaries, early secondaries and co-investment fund is intended to extend the GP's existing strategy
Fund has a EUR 4bn target and intends to make impact-driven investments in mature companies
GP previously raised EUR 70m for SISA, a fund dedicated to healthcare technology
Christoph Waer, Tim He and Matthias Fink join the firm in three different geographies