Equistone closes fifth fund on €2bn hard-cap

Equistone Partners Europe Fund V (EPEF V), which had a target of €1.75bn, was launched in October 2014.

Lazard advised Equistone on the fundraising, while Clifford Chance handled fund formation, tax and regulatory counsel.

Investors
The vehicle received capital commitments from 43 LPs across Europe, North America and the rest of the world. Investors include pension funds, fund-of-funds, sovereign wealth funds and insurance companies.

Around 80% of the total funds committed came from existing investors, with 29% raised from North America, 47% from Europe, and 24% from Asia and the Gulf states.

Investments
As with its predecessors, EPEF V will target European buyouts in the €50-300m region.

Since January 2014, Equistone has made nine investments and 10 exits. Most recently, the GP acquired German company Polo Motorcycle and Sportswear in an SBO and sold UK insurance broker A-Plan to HG Capital.

People
Guillaume Jacqueau is managing partner at Equistone. Christiian Marriott is partner and head of fundraising at the firm.

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