ACG launches fund V

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.