Alcedo holds final close on €195m for fourth fund

Launched in September 2015, the vehicle reached its final close on €195m, below its €200m hard-cap. The previous fund, Alcedo III, held a final close on €173m in November 2008 and made 10 investments.

The GP engaged London-based placement agent Acanthus Capital alongside legal advisers Jones Day and Studio Quorum to assist the fundraising.

Investments
Like its predecessor, Alcedo IV targets Italian export-oriented SMEs. The fund completed its first transaction through the €11m purchase of Exa Group.

Investors
According to a statement, international investors committed 50% of the capital in the fund, with existing investors in the predecessor Alcedo III re-upping, having doubled their investments in Alcedo's third fund.

Italy-based institutional investors and family offices accounted for the remaining 50%.

People
Alcedo – Maurizio Masetti (chair).

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• Topics
• Buyout
• Southern Europe
• Fundraising
• Italy
• Alcedo SGR