Access Capital Partners has held a final close on its latest mid-market buyout fund of funds on €413 million, according to Philippe Poggioli, a managing partner at the French fund of funds.
The firm has rapidly raised the fund after last year raising €307 million for its third mid-market fund of funds in February. Access said at the close it expected to invest this fund by mid 2007.
The firm’s core mid-market continues doing deals despite difficulties caused by the problems in the worldwide credit markets.
Yesterday GMT Communications Partners, a European communications specialist buyout firm, sold Asiakastieto, the largest business and credit information company in Finland, to Bahrain investor Investcorp, for an undisclosed sum.
Access has made commitments to a number of European buyout funds recently, including HitecVision’s $800 million (€505 million) Nordic energy fund which closed in February, and Litorina Kapital’s SEK1.38 billion (€150 million, $211 million) Nordic mid-market buyout fund raised in September.
The limited partners in the latest fund were not disclosed.
Following the close the firm has approximately €2.5 billion under management. It also runs a technology fund of funds.
The firm expanded by opening a second office in Munich in December 2006. It is run by three managing partners Dominique Peninon, Agnès Nahum, and Poggioli.
In June last year the Fonds de Réserves Pour Les Retraites, France’s €32 billion reserve pension fund, also awarded Access a mandate to invest €300 million in the European mid-market.
Additional reporting by Andy Thomson.