Summit holds €700m final close for second growth equity fund

The GP held an interim close for the vehicle, Summit Partners Europe Growth Equity Fund II, on €600m in May 2017.

The GP's previous growth equity fund closed on €1.05bn in April 2008. It was 93% invested as of September 2016, according to unquote" data.

Summit used placement agent Asante Capital Group for this fundraise. Kirkland & Ellis provided legal advice.

Investors
Texas County and District Retirement System committed €60m to the fund. The previous fund had investors from Europe accounting for 20-30% of commitments, from Asia (5-10%) and from North America (60-70%).

Investments
The fund will make investments in European companies across all sectors, with a particular focus on technology, consumer, finance and healthcare. It will make investments of between €20-60m.

People
Summit Partners – Han Sikkens (managing director).

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