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).
Calucem reports a turnover of EUR 58m, with an EBITDA of EUR 16m
Should Apex make a firm offer, Cinven would have to significantly up its own bid for the fund administrator
Third exit announced by Lonsdale this year, and the second from its 2016 fund
Paris-based private equity firm is exploring options around a dual-track process