Paris-based fund-of-funds manager Access Capital has closed its Fund IV Growth Buyout Europe at €425m, exceeding its initial target of €300m.
The vehicle will seek opportunities in private equity funds that invest in growth-orientated small and mid-market buyouts, as well as special situations.
Investors in the fund come mainly from Germany, France, the Nordic countries, the UK and Benelux. Commitments have already been made to 15 underlying funds including three special situation funds and two sector-focused mid-market buy-out funds.
Access Capital has €2.5bn under management, and currently manages seven co-mingled fund-of-funds as well as nine single client mandates. The firm currently employs 31 professionals including six partners.