Stirling Square closes fourth fund on €950m

Alessia Argentieri
03 February 2020

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Stirling Square Capital Partners has held a final close for its fourth buyout fund, Stirling Square Capital Partners IV, on тЌ950m.

The fund was launched in February 2018 with an €800m target and held a first close on €600m in May 2018. It is nearly 60% larger than the firm's third fund, which closed on €600m in December 2015, surpassing its €500m target.

Stirling Square was advised by placement agent Rede Partners and law firm Clifford Chance on the fundraise.

Investors
The fund received backing from the firm's existing investor base and also attracted commitments from several new global investors. Approximately 60% of commitments came from Europe, 35% from North America and 5% from the Asia-Pacific region.

Investments
The vehicle intends to continue to execute the pan-European strategy developed by Stirling Square's earlier funds, targeting mid-market companies with enterprise values of €50-500m.

The fund has already made two acquisitions to date: Verescence, a France-headquartered producer of glass packaging for the perfumery and cosmetics industries, bought in February 2019; and Logent, a provider of customised logistics in the Nordic region, purchased in June 2019.

The final close of the fund follows an active period of realisations for Stirling Square: the firm exited two investments in the fourth quarter of 2019, Cartonplast from its second fund and Siblu Villages from its third fund.

People
Stirling Square Capital Partners – Stefano Bonfiglio (co-founder, managing partner); Gregorio Napoleone (co-founder, management committee member).