Golding Capital closes €212m fund-of-funds

The vehicle will have a lifespan of 10 years, also allowing for two one-year extensions, and will focus on investing in European buyout funds. 

Golding always has a target of €200m for its funds, which it has surpassed in recent years. The firm's previous private debt fund, Golding Mezzanine Europe V, closed on €267m at the end of 2012.

Golding has two funds currently on the market: Golding Infrastructure SICAV, which has already raised €120m and will aim to close by the end of year, and a private debt fund which saw its first close at the end of February on €80m. The company manages assets worth €2.8bn for more than 100 investors.

The fund-of-funds has already settled on its follow-on vehicle: Golding Buyout SICAV IX. The launch is planned for the summer and will target private equity funds in the US and Europe, as well as secondaries and co-investments.

Investors
A total of 22 firms committed to SICAV VI, with more than 80% coming from Germany. Ten insurance companies invested €96.5m of the total, or 45.5%, while five pension funds invested €67m and four banks invested €45m. Approximately 55% of the amount raised came from existing investors.

The usual commitment is in the region of €5-30m, with a minimum entry of €5m. The fund-of-funds also received a management commitment of €1.5m.

Investments
SICAV VI has already made 10 commitments to European mid-market buyout funds, of a potential 12-15 commitments that the company hopes to make. With an average size of €15m, more than half the funds have already been committed. The company has a generalist approach.

People
Jeremy Golding is founder and CEO of Golding Capital. Daniel Boege is head of buyouts for the firm.

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• Topics
• DACH
• Fund-of-funds
• Germany