ECM closes fourth fund on €230m

The fundraising for German Equity Partners IV (GEP IV) formally began in February 2012 and was concluded in late June. The fund reached its €230m hard-cap and exceeded its €200m target. GEP IV has a 10-year lifespan with two optional one-year extensions.

German Equity Partners III held final close in September 2006, having raised €250m.

Investors
ECM's investor base is composed of funds-of-funds, insurers, family offices and pension funds; the fund attracted more than 20 investors in total. More than half of those were also invested in previous ECM-managed funds.

The majority of commitments came from European players, with 30% allocated from Germany and 40% from the rest of Europe. The remaining 30% of commitments were made by North American institutions.

Investments
GEP IV will fund MBOs in German-speaking countries, making 8-10 investments over a period of five years. Target companies will have an enterprise value of €20-100m. GEP IV is looking to acquire majority stakes.

People
Senior partner Christopher Peisch led the fundraising for ECM. 

Advisers
Equity – Carey Olsen, Ben Morgan, David Crosland (Legal).

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• Topics
• Buyout
• DACH
• ECM Equity Capital Management
• Germany