Equistone files seventh buyout fund

The Luxembourg-domiciled vehicle was registered in May 2022.

A source close to the situation said that Equistone is not currently fundraising, or working towards a formal launch.

Equistone declined to comment on the filing.

Dominic Geer, a partner at Equistone, told Mergermarket in December 2021 that it could potentially think about fundraising within the next year. The report also noted that the GP is continuing to evaluate further divestments in 2022 and the fund had about 40% of dry powder to deploy at the time.

The sponsor has since announced an investment in Germany-based Eperi, a cybersecurity software company, which it acquired in February 2022.

Equistone is currently deploying equity via Equistone Partners Europe Fund VI, which held a final close in March 2018 on its EUR 2.8bn hard-cap. The vehicle targets companies across the Benelux and Western Europe regions with enterprise values of around EUR 50m-500m, providing tickets in the range of EUR 40m-250m, according to Unquote Data.

Equistone VI was 61% deployed as of December 2021, according to Unquote Data. The fund expects to make 25-30 platform deals in total and has made 26 investments to date, according to Unquote Data.

The LP base of Equistone VI consisted of 56% Western European and Nordic investors, 28% North American, and the remaining 16% from other regions, according to Unquote Data. In total, 56 investors backed the vehicle.

The sponsor has recently exited businesses including UK-based FirstPort, a residential property management company, which it sold to Partners Group and TA Associates-backed Emeria in March 2022; and UK-based Team ITG, a marketing activation company that the GP sold to Bridgepoint in March 2022.

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• Topics
• Buyout
• Fundraising
• Benelux
• DACH
• UK / Ireland
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• Equistone Partners Europe