Aksìa holds €100m first close for fifth fund

The GP expects to hold a final close by the end of the year, Unquote understands.

The fund is targeting a larger volume than its predecessor, Aksìa 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 and is now more than 70% deployed. It has recently completed its first exit by selling plastic specialist Lameplast for €88m, equal to 11.6x the company's 2018 EBITDA.

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, and with buy-and-build and international expansion opportunities. Target companies will generate 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.

People
Aksìa Group – Nicola Emanuele (CEO).

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