Akina holds third close for Euro Choice VI at €180m

The vehicle has a target size of €300m and is expected to reach final close in Q2 2016.

Akina's previous fund, Euro Choice V, closed on $372m in April 2014. The vehicle was open for 18 months with an initial target of €600m.

Investors
The fund mainly received investments from pension funds, family offices and charities. Investors are geographically split between the US and Europe.

Investments
As its predecessors, the vehicle will focus on the mid- and lower-end of the European market, executing both primary and secondary buyout, growth capital and special situations fund investments.

The fund has closed two transactions to date: a secondary transaction in an Italian portfolio acquired at a 10% discount, and a stake in a Nordic fund specialising in growth investments. Akina stated that as of 30 September 2015, the fund's net TVPI (total value to paid in) stood at 1.2x capital drawn.

People
Mark Zünd and Thomas Frei are senior partners at Akina.

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