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Laxman Pai, Opalesque Asia: European investor Capza has held the first close for Capza 5 Flex Equity on €450m ($516m). The vehicle has a target of €500m and has already exceeded the size of its predecessor, which closed on €350m in October 2016.
With this new closing, the French private equity specialist has reached €4bn in assets under management.
The vehicle will be used to provide flexible financing solutions combining majority or minority capital, convertible bonds and mezzanine, in the lower midcap segment in France, Spain, Germany, and Italy, said a company release.
Since 2004, the Capza Flex Equity teams have led more than 70 transactions combining capital and mezzanine, most recently including deals for Eurofeu, Coutot-Roehrig, and Audensiel.
"The success of this first closing confirms investors' appetite for a flexible and agile investment strategy in resilient sectors. Capza Flex Equity's teams have demonstrated an ability to efficiently deploy capital and achieve a constant pace of divestment over the previous vintages," said the release.
This fund raised capital from Capza's historical investors, which include family offices, insurers, funds-of-funds, public institutions, and pension funds, as well as new French and international investors.
Maxence Radix, co-head of Flex Equity France at Capza, said, "We are confident in the future of this new fund, all the more so since our hybrid model enables us to be especially agile and to inv...................... To view our full article Click here
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