Access Capital raises €644m at final close

Access Capital Fund VI Growth Buy-out Europe (ACF VI) reached a first close on €190m in December 2013, according to unquote" data. At the time, Access revealed the commitments had all been drawn from previous backers – which the firm attributed to the "meaningful" cash returns it had been able to distribute across its LP base via exits from previous vehicles.

Less than a year later, Access announced it was nearing its initial €400m target as it broke the €350m mark, with capital already being committed to nine primary buyout funds and a secondary fund.

ACF VI's predecessor, Access Capital Fund V Growth Buy-out Europe, also exceeded the €350m target set at launch in 2010, holding a final close on €500m in less than 24 months.

Investors
Insurance companies are by far the largest contributor to ACV VI, with 60% of all commitments. An additional 30% has come from pension funds, with asset managers, family offices and foundations supplying the remaining 10%.

Backers of Access's previous vehicles contributed three quarters of the commitments.

Investments
Like Access's previous vehicle, ACF VI targets smaller primary and secondary funds focusing on buyout and special situations deals across Europe.

According to Access, to date, almost half of the fund's capital has already been deployed to such vehicles.

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• France
• Fund-of-funds
• France
• Access Capital Partners