Egeria, the Dutch private equity firm, has reached an interim close on its second fund, reaching €358m following the December 2004 launch of its international fund raising.
This is the second closing Egeria has held for Egeria Private Equity Fund II, coming just over two months since reaching €293m. This latest closing has seen Dutch investors committing €64m, adding to the capital from Dutch pension fund Ahold Pensioenfonds and bank Van Lanschot Bankiers.
The fund will focus on mid-market companies in the Netherlands, with an enterprise value of between €50m and €150m. Two investments have already been made: in Ad van Geloven, a producer of frozen snacks, and Muelink & Grol, a manufacturer of flue gas exhaust systems. The fund is also close to acquiring a majority stake in Royal Mosa, a manufacturer of ceramic tiles.
Egeria Private Equity Fund II received its first commitments back in April 2004, when Bregal Investments committed €250m as a cornerstone investor.
Acanthus Advisers is acting as international placement agent for the fund.