French fund-of-funds, ACG Private Equity (formerly Altium Capital Gestion), has launched its fifth fund, ACG Europe V.
The fund aims to raise €250m and will target investors in Europe, the Middle East, and North America.
It will look to invest in both Western and Central and Eastern Europe, a region it believes is ripe for opportunity due to the high GDP and penetration by private equity.
ACG Europe V will follow the firm’s investment strategy which includes: growth capital and small to mid-market buyouts, as well as special situation funds.
President of ACG Private Equity, Wladmir Mollof, said: “Despite the financial crisis, our first contacts with international investors are very positive and confirm that private equity is an asset class in demand and prove the right timing for our fundraising. Indeed, experience proves that recession years always result in excellent performance vintages.”
ACG was established over ten years ago and manages more than 40 funds in Europe including, LBO France, MidEuropa, Duke Street, Oaktree and EQT Expansion Capital. The firm’s investors include insurance companies, banks, pension funds and family offices.