F&C holds €90m first close for fund-of-funds

The vehicle is a successor to F&C European Capital Partners, which closed on €173m in 2008. F&C hopes to raise a larger vehicle than its predecessor with the latest fund.

F&C currently manages more than €750m in six private equity funds-of-funds.

The vehicle is expected to remain open to commitments until October 2014.

Investors
Merseyside Pension Fund and the Dutch pension fund Stichting Pensioenfonds Werk en (re)Integrat have joined other institutional investors in committing to the vehicle.  

Investments
The fund will invest in European mid-market buyout funds, including primary funds, secondary funds and co-investment vehicles. The vehicle will focus on emerging managers and back around 15-25 funds with up to 30% in co-investments.

People
Hamish Mair is head of private equity funds at F&C.

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• UK / Ireland
• Fund-of-funds
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