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Euro Choice Secondary nabs 122.5 mln euros

Euro Choice Secondary, a private equity secondary investment program advised by Akina, has received 122.5 million euros in an interim close of its latest funding round. The final closing will take place on December 17, 2014. Euro Choice Secondary focuses on value, inflection point and high-discount investment opportunities in the European mid-market.

PRESS RELEASE

Euro Choice Secondary, the Akina advised private equity secondary investment programme, completed an interim closing on 23 October 2014 at EUR 122.5 million.

Considering the high demand for additional commitments, the final close will take place on 17 December 2014.

As per end of September, Euro Choice Secondary has already closed investments resulting in cash deployment of two thirds of its capital and in a valuation uplift of about 1.8 times the money drawn. The underlying – mostly drawn – funds are invested in companies in resilient sectors such as health care, energy, food, infrastructure, distribution and real estate.

Akina is currently in the advanced stages of executing further investments in transaction values exceeding the additional funds raised. As an advisor Akina can therefore be very selective. Most of these opportunities are with country funds in the core of Europe, which ideally complement the current portfolio and preserve Euro Choice Secondary’s high level of drawn capital.

Euro Choice Secondary targets value, inflection point and high-discount investment opportunities in the European mid-market. It also seeks to achieve other key portfolio parameters such as early de-risking, asset protection and cycle resilience. The focus on smaller deal sizes ranging from EUR 5 to 30 million often allows the fund to benefit from the attractive characteristics of this market, in particular limited competition.

Thomas Frei, Senior Partner at Akina comments: “We would like to thank our investors for the trust expressed by their commitment to Euro Choice Secondary, and we very much look forward to continuing discussions with our prospective investors. Considering the high demand for additional commitments, the final close will take place on 17 December 2014 and is expected to exceed the target fund size.”

About Akina
Akina Ltd is a leading, fully independent adviser to private equity funds / mandates investing in special themes. Its advised Euro Choice flagship funds, which invest in Europe with a particular focus on the mid-market, have attracted EUR 1.9 billion (as per 30 September 2014) from clients around the world since 1999. Located in Zurich, Switzerland, its dedicated investment team combines a broad fund and direct investment expertise. Akina Ltd was awarded the Gold Award (2011) and the Silver Award (2012 and 2013) for ‘best regional investment strategy’ by Private Equity Exchange & Awards.

Akina Ltd is an investment adviser registered with the U.S. Securities and Exchange Commission and is a signatory of the Principles for Responsible Investment (PRI).
www.akinapartners.com