Gilde raises $1.17 bln for fifth European midmarket fund

European private equity firm Gilde Buy Out Partners has closed its fifth fund at its 1.1 billion euros ($1.17 billion) hard cap.

Gilde Buy-Out Fund V will invest in mid-market companies, focusing specifically on The Netherlands, Belgium, Luxembourg, Germany, Austria and Switzerland.

The fund’s limited partners include public pension funds, insurance companies, sovereign wealth funds, foundations and family offices.

Gilde’s previous fund raised $1.04 billion in 2010, generating an average IRR of -.64 percent and an average multiple of .99x as of June 30, 2015, according to data provider Bison.

MVision Private Equity Advisers served as fundraising adviser.

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