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Laxman Pai, Opalesque Asia:

Rothschild & Co has held a final close for Five Arrows Secondary Opportunities V (FASO V) at EUR1.0 billion ($1.1bn), surpassing its €700m target.

FASO V will focus on general partner-led deals in the European small and mid-market.

Investors in the Fund represent a globally diversified group of institutions, corporations, international family offices, and entrepreneurs. Rothschild & Co, the partners and senior staff of the firm, and the Fund's investment executives have also made a substantial commitment to FASO V.

FASO V is the 16th fundraised above its expected target by Rothschild & Co's Merchant Banking business over the last 10 years. This brings the total assets under management to approximately €13 billion across four strategies: corporate private equity; senior and junior credit; primary and secondary fund investing; and co-investments.

Marc-Olivier Laurent, Executive Chairman of Rothschild & Co's Merchant Banking business, said, "We are delighted with the success of the FASO V fundraising and are grateful for the support of both our existing investor base as well as our new investors. I am confident that under the leadership of Mireille Klitting, we will continue to develop our secondaries business and work hard to generate the returns our investors expect from us."

This latest fundraising follows a successful 2019 for FASO during which time the previous fund, FASO IV, completed its investment period. FASO IV......................

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