Akina holds first close on €173.5m

Fundraising began in late 2011. The fund has a €600m target and further closings are expected after the summer. The vehicle has a lifespan of 10 years with two possible one-year extensions.

Akina is based in Zurich. Its Euro Choice funds manage more than €1.65bn from global investors.

Investors
The LP base consists of institutional clients in Europe, North America and the Middle East. Investors are primarily public and corporate pension funds, trusts, endowments and family offices. Existing and new investors contributed to the vehicle.

Investments
The fund-of-funds will seek primary and secondary opportunities at the lower end of the European market, targeting mid-market buyout and growth capital vehicles. The fund is expected to make around 15 fund investments in total. It will also consider special situation funds.

Akina usually targets GPs managing funds in the €50m-1bn range.

People
Thomas Frei and Mark Zünd are senior partners at Akina. Christopher S Bödtker is managing partner.

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