Akina holds interim close for Euro Choice Secondary

The interim close comes three months after Akina held a first close for the vehicle in mid-July with €73.5m in commitments.

The fund has a target of €200m and was launched toward the end of 2013.

At the time of the fund's first close, it was understood Akina was aiming to hold the final close for the vehicle in the fourth quarter of this year. Akina has now stated that ECS will hold its final close on 17 December and is expected to exceed its target.

Investments
The fund will focus on the European mid-market, targeting smaller deals within the €5-30m range across Europe.

By the end of September, ECS had already deployed two thirds of its capital, resulting in a valuation uplift of 1.8x money drawn.

ECS's investments are in funds focused on the healthcare, energy, food, infrastructure, distribution and real estate sectors.

People
Thomas Frei is a senior partner at Akina.

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