Italian buyouts house Investitori Associati has pulled the fundraising for its fifth fund citing the current turmoil afflicting the world’s financial markets.
The firm, which raised €700m for its fourth fund in 2004, was looking to close on over €1bn. It is currently in the process of returning commitments to investors in fund five, claiming the fundraising has been postponed rather than cancelled.
The Milan-based outfit last made an acquisition in February of this year when it teamed up with the UK’s Cognetas to purchase Gruppo Argenta, an Italian vending machine company.
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