AFINUM, the independent German fund manager, has announced the third and final closing of its debut fund at E74 million. The AFINUM Beteiligungsgesellschaft fund was launched last spring and originally aimed to raise E35 million to E50 million.
The investment team is led by Dr Thomas Buhler and Dr Gernot Eisinger, previously with the TA Triumph Adler investment group. Cornerstone investors in the fund are all German and include a well-known private bank, an insurance company and private individuals.
The fund will take majority stakes in six to eight companies, with a turnover of E20 million to E50 million. AFINUM will fund expansion and buyouts in German-speaking countries. It recently announced the acquisition of Kinshofer Greiftechnik, a German manufacturer of hydraulically-operated load handling equipment for cranes and diggers.