Netherlands-based private equity firm Kempen Capital Management has held a second close on €120m for its Kempen European Private Equity vehicle, nearing its target.
The fund, launched in early 2019, held a first close on €76m in February. A third close is expected in September this year. If, by that time, the fund has reached its target size of €150-200m, this third close will be the final one.
Kempen is also active in the funds-of-funds space; the GP is currently fundraising for its Kempen Private Markets Fund, which held a first close on €30m in May and currently has a €100m fund target.
Kempen European Private Equity's LP base consists of former entrepreneurs, private equity investors and corporate managers coming from the Netherlands, Belgium and Switzerland. The initial subscription and minimum holding amount is €250,000.
Van Lanschot Kempen staff has also invested in the fund with their own private capital.
The fund aims to build a portfolio of approximately 10 participations, of which around five should be co-investments.
The fund focuses primarily on small-cap and lower-mid-market businesses, which are market leaders in their own specific niche. Family-owned businesses are likely to be targeted.
Kempen will look to co-invest with north-western European small and lower-mid-market buyout investors.
Kempen – Sven Smeets (co-head private markets); Marvin de Jong (director of private markets).
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