Accession launches fund V with €300m target

The vehicle will provide both debt and equity investments for growing firms across central Europe.

Central-European focused investor Accession Capital Partners has launched its fifth hybrid debt and equity fund.

The vehicle, AMC V, has commitments of €150 million and a target of €300 million to invest in mid-market businesses in central Europe which are seeking capital for expansion, succession and buyouts. It reported fund V already has strong interest from existing investors in AMC funds, including the European Investment Fund, as well as new backers.

LPs in the fund so far include fund of funds, insurance companies, pension funds, banks and family offices. The fund attracted local investors based in central Europe as well as those from western Europe, the US and Asia.

It’s a successor to AMC IV, which closed on €264 million in December 2018, and will follow the same strategy. The firm said its focus on investing in EU and NATO member states in central Europe shows strong macroeconomic fundamentals but is currently lacking investment from private equity and private debt funds.

ACP was formerly known as Mezzanine Management and has been investing in central Europe for more than 20 years with offices in Vienna, Warsaw, Bucharest, Budapest and Prague.