Qualitas closes Europe-focused fund-of-funds on €61m

Amedeo Goria
11 October 2016

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Qualitas Equity Partners has held a final close on €61m for its Europe-focused fund-of-funds, Qualitas Mutual Private Equity Fund I.

According to a statement, the fund manager has already deployed 70% of the committed capital via eight investments in European private equity funds and three co-investments alongside its GPs.

Qualitas aims to deploy the entire €61m by the end of the first quarter 2017, totalling 10-12 transaction in European GPs.

Investors
The vehicle is understood to have raised capital from 50 LPs across Europe, and North and South America. The majority of commitments come from institutional investors, while the remaining capital comes from family offices and high-net-worth individuals. The fund's management team has committed 5% to the fund.

Investments
Qualitas Mutual Private Equity Fund I targets investments across mid-cap buyout funds based in western Europe, including in the UK, Ireland, Italy and France, and the DACH, Benelux and Nordic regions. The vehicle does not target the Spanish market, in which the GP directly invests through its Q-Growth I vehicle.

The fund-of-funds manager aims to back 10-12 European GPs with a €2.5-5m equity ticket, which can exceptionally be extended up to €10m. Furthermore, Qualitas will deploy 20% of the committed capital to secondary investments through the purchase of other GPs' portfolios and co-investments in individual companies.

People
Qualitas Equity Partners – Eric Halverson, Sergio García Huertas (partners); Juan Rubio (fund manager); Vicente Asuero (finance director).