Mid Europa Partners, a private equity firm focused on Central Europe, has closed its third fund at €1.5bn. In addition, the Mid Europa team will invest an additional €30m through the general partner.
Thierry Baudon, Mid Europa’s managing partner, said: “With our second fund already 80% invested in less than 24 months, this new investment vehicle will allow us to continue to take advantage of the rapidly expanding flow of quality buyout opportunities in Central Europe.”
Mid Europa III secured commitments from more than 60 investors. About 28% of commitments came from pension plans, 24% from funds of funds, 19% from banks, insurance companies and other financial institutions, 16% from government-related entities and international financial institutions and 13% from endowments and foundations.
In terms of geographical split, European and North American investors account for 50% and 36% of total commitments respectively. The balance came from the Asia-Pacific and the Middle East.
MVision Private Equity Advisers acted as global placement agent. Kirkland & Ellis was legal counsel to Fund III.
CDC could launch partial float
CDC, a UK government-backed fund of funds investor focused on emerging markets, could launch a partial flotation following a strategic
Press reports claimed that CDC was weighing up various options put forward by its adviser. These included a potential sale, private share placement, partial float on the London Stock Exchange or remaining as a standalone business.
It was suggested that a partial flotation had been recommended by Morgan Stanley, and that the move could see the government reduce its holding to a minority stake. The floated business is expected to have a market value of £2bn to £2.5bn (US$4.1bn–$5.1bn).
A source familiar with the situation told IFR Buyouts that while Morgan Stanley had conducted a review of CDC, it was a “private and internal matter” for the time being.