Aksìa launches €200m fifth fund

Alessia Argentieri
26 February 2019

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Italian mid-market private equity firm Aksìa Group has launched its fifth fund with a €200m target and expects to hold a first close by the end of March.

The fund is larger than its predecessor, Aksia Capital IV, which was launched in 2013 and held a final close on €110m in April 2016. The vehicle targets family-owned export-orientated assets with market-leading positions in their sector. The fund is now more than 70% deployed. Its portfolio of companies includes business process outsourcing specialist Covisian, pharma packaging manufacturer Lameplast, publishing company Alpha Test, and baked goods producer CRM.

Investors
According to the GP, the fundraising has been fast and smooth so far and has raised commitments primarily from international funds-of-funds and Italian family offices. The vehicle expects to raise additional capital from Italian and European pension funds, insurance companies and banks in the coming months.

Investments
Aksìa Capital V will target European businesses with potential for high-growth, buy-and-build opportunities and international expansion, generating EBITDA between €10-25m from revenues in the €30-120m range. It will deploy equity tickets in the €15-25m bracket and apply moderate leverage of around 2.5-3x. The vehicle plans to close its first deal by June 2019.