Anglo-French secondary investor ARCIS Group has reached a final closing of ESD Fund IV after raising €354m.
The forth fund that focused exclusively on the European market is more than twice the size of its previous fund. ARCIS specialises in the purchase of secondary positions in private equity funds from investors seeking liquidity.
A significant number of new investors participated alongside existing investors in the European fund. Limited partners include, pension funds, family offices, insurance companies, endowments and foundations, and sovereign funds. Investors were equally weighted between US investors and non-US investors, from Europe, Asia and the Middle East.
ESD Fund IV has already invested approximately 20% of its capital, having completed several secondary acquisitions principally invested in the UK, France, Germany and Benelux.
The fund’s strategy is to provide liquidity to investors in European private equity funds and in portfolios of European private equity backed companies, in secondary transactions up to €200m in size.
Managing Partner of ARCIS Arnaud Isnard said: “The need for liquidity in private equity should continue growing significantly as in difficult market conditions more investors face the need to realise or restructure their investments.”
ARCIS’ previous fund ESD Fund III reached a final close at €175m. ESD Fund III also focused exclusively on the European market.