3i hits 5bn target

Global private equity firm 3i has held a final close on its fifth mid-market buyout fund Eurofund V, raising €5bn as expected following a revision of its initial intended target of €3.5bn earlier this year. The new fund is the largest dedicated to the mid-market in Europe, but could also invest outside of the region following 3i’s expansion of its network in Asia. Marketing for Eurofund V began in April, with a first close of €4.2bn in August. The vehicle included investment from a group of 62 limited partners from around the world.