CapVest targets €1bn for fourth fund

CapVest Equity Partners IV is a significant increase on CapVest III, which held a final close on €482m against a €400m target in November 2014. However, it will target businesses in the same size enterprise value bracket of €100-500m.

It is registered in Luxembourg as CapVest Equity Partners IV SCSp and has a target return of 20% net IRR.

Credit Suisse is acting as placement agent for the raise and Aztec Group is acting as fund administrator, according to publicly available documents.

Investors
Three US pension funds – Texas Municipal Retirement System, State of Wisconsin Investment Board and Almeda County Employees' Retirement Association – have all committed to the new fund, according to publicly available documents.

CapVest III also received a commitment from State of Wisconsin Investment Board, as well as fund-of-funds managers Golding Capital Partners, Astorius Capital and global asset manager Partners Group, according to Unquote Data.

Investments
The new fund will invest €75-125m in eight platforms in the healthcare, consumer and "essential services" business in northern and western Europe, according to a publicly available document. It will drive the growth of these platforms with both acquisitions and organic growth initiatives.

People
CapVest Partners – Christopher Campbell (partner).

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