CapVest gears up for launch of CapVest V

Harriet Matthews
04 June 2021

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CapVest has registered its fifth fund, according to a regulatory filing.

CapVest Equity Partners V is registered in Luxembourg and was formed in May 2021.

The GP's predecessor vehicle held a final close in December 2019 on €1bn and was 21% deployed as of April 2021, according to Unquote Data. The fund was registered in March 2018 and comprises a master vehicle and a feeder vehicle.

CapVest IV deploys equity tickets of €75-125m and targets businesses with enterprise values of €100-500m, according to Unquote Data. It aims to make six to eight platform investments, targeting Europe-based companies with revenues that are based on non-discretionary demand for essential goods and services. This has led the GP to invest in sectors including healthcare and food products since its establishment in 1999.

CapVest IV was a significantly larger vehicle that its predecessor, which held a final close in November 2014 on €482m.

The GP's latest platform investment is the acquisition of Inspired Pet Nutrition from L Catterton in December 2020. In May 2021, CapVest sold Valeo Foods to Bain Capital in a €1.7bn deal following an 11-year holding period.

CapVest declined to comment.