MCH launches €400m fifth buyout fund

The fund is expected to hold a first close in the coming months, Unquote understands.

MCH Iberian Capital Fund V will be larger than its predecessor, which was launched in 2016 and held a final close in May 2017 on €350m, surpassing its initial €300m target.

The Spanish GP also manages, in partnership with AlpInvest Partners, a €180m fund-of-funds named MCH Global Buyout Strategies, which targets European and American funds operating in the mid-market.

Investors
MCH Iberian Capital Fund V has already received commitments from French GP Eurazeo, which has recently bought a 25% stake in the Spanish GP. Following this transaction, MCH will be able to benefit from Eurazeo PME's LP base and connections.

In addition, most of the investors that backed MCH fourth fund, which include both Spanish and international institutional investors, funds-of-funds and family offices, are expected to re-up in this latest vehicle.

Investments
The fund will target mid-sized companies headquartered in the Iberian Peninsula, generating EBITDA between €5-15m and will deploy equity tickets in the €20-50m range.

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