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Vitruvian Partners races to $4.7bn hard cap close for the new fund

Monday, August 03, 2020

Laxman Pai, Opalesque Asia:

UK private equity firm Vitruvian Partners has closed its fourth buyout fund at its hard cap of €4bn ($4.7bn), less than three months after its formal launch.

According to the London-headquartered international growth equity firm, the vehicle, VIP IV, is 40% larger than its predecessor, which closed in June 2017 at €2.4bn, and will follow the same investment strategy of supporting high growth companies in the middle market, primarily in Europe.

"VIP IV reached the hard cap quickly, and was over-subscribed, in part due to Vitruvian's longstanding track record and strong alignment with investors. Vitruvian has generated top-decile performance in each of its three predecessor funds through long-term partnerships with outstanding entrepreneurs and management teams," said a press statement.

VIP IV received strong support from both long-term supporters of Vitruvian and new investors, and accepted commitments from over 120 institutions, with over 50 percent of the Fund raised from North America, 30 percent from Europe and the balance from Asia and the Middle East.

The VIP IV investor base represents a diverse group of limited partners including leading Sovereign Wealth Funds, Public and Corporate Pension Funds, Fund of Funds, Banks and Insurers, and Endowments and Foundations. The VIP IV fundraising brings Vitruvian's assets under management to EUR10 billion.

Vitruvian is a signatory of the Principles for Responsible Investment (PR......................

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