Adveq said Dec. 12 that its latest fund closed at 462 million euros ($490.1 million). The target of Adveq Europe VI was 350 million euros ($371.3 million). Adveq Europe VI targets primary, secondary and co-investment opportunities in the European small buyout segment. Investors include pension funds, insurance companies and endowments.
Correction: The headline for a prior version of this story incorrectly said the fund closed at $371.3 mln. The pool closed at $490.1 mln
Zurich, Switzerland / London, UK, December 12, 2016 – Adveq, a leading asset manager investing in private equity globally, today announces the final closing of Adveq Europe VI at EUR 462m, well above its initial target fund size of EUR 350m.
The fund closing was held on December 2, 2016 attracting interest and support from investors around the world, including pension funds, insurance companies and endowments.
Adveq Europe VI targets primary, secondary and co-investment opportunities in the European small buyout segment. The fund invests with or alongside transformational, turnaround and specialist managers and it will focus on:
§ Emerging managers: Fund managers that are raising their first or second fund
§ Established managers: Fund managers in the third or later generation that are fully institutionalized and have a long track record
Adveq Europe VI has already committed a sizable amount to specialised European managers and will target small buyout companies that have a strong and defendable market position and significant value creation potential through revenue growth and business transformation.
Commenting on the recent closing, Tim Creed, Managing Director and head of Adveq’s European investment practice, said:
“The fact that this is our sixth generation fund proves that investors believe it to be the right strategy for their portfolios and our broadened client base is a testament of it. We are confident that this is still a very attractive sector and are very pleased with the quality of investors who have entrusted their capital to us, helping us exceed the fundraising target for this fund.
“I am very proud of our team and our past performance and we will continue working hard to provide investment excellence to our clients.”
Founded in 1997, Adveq is a leading asset manager investing in private equity globally. It offers specialized investment solutions which allow the firm’s clients to access select private market segments through primary, secondary and co-investments.
Adveq’s client base comprises institutional investors such as pension funds, insurance companies, family offices and other financial institutions located in Europe, North America and the Asia-Pacific region. Many of Adveq’s investors are repeat, long-term clients with whom the firm has developed a role as a trusted partner for private market investing.
Adveq has offices in Zurich, Frankfurt, London, Jersey, New York, Beijing, Shanghai and Hong Kong.