PIR Equities Fund III raises 275 mln euros ($312 mln)

PIR Equities said Feb. 11 that its third flagship fund closed on 275 million euros ($312 million). PIR Equities, of Geneva, targets deals in sectors including wealth & asset management, energy, infrastructure and payments.


PIR Equities Raises 275 Million Euros for Third Fund

GENEVA–(BUSINESS WIRE)–PIR Equities, an employee owned private equity firm has raised 275 million euros ($312 million) for its third flagship fund. The firm’s managing partner, Joseph Aaron Horowitz, reported on Monday, amid strong investor demand.
Established in 2008 by Joseph Aaron Horowitz and Oded ‘O.D.’ Kobo, PIR Equities manages a varied portfolio including interests in property, securities, technology, and ownership in operating businesses with over $650 million in assets.
“We are proud of the strong and continuous support we have received from our partners. We plan to remain patient in deploying capital, but will be ready to invest when we see the right opportunities emerge,” said Joseph Aaron Horowitz, Managing Partner.
PIR Equities prior funds had net internal rates of return — a key benchmark for investment returns — ranging from 24 percent to 33 percent.
The firm’s fundraising hit its ‘hard cap’ limit, exceeding the maximum size initially set for the fund. In a recent interview with BBC Business News, PIR Equities co-founder O.D. Kobo said, “It was a quick fundraise, we launched our third fund in October and after only four months we were oversubscribed.”
PIR Equities is comprised of a highly experienced team of investment professionals who have spent their entire careers operating, advising and investing across the key sub-sectors of the financial services industry. “We pursue investments in which our extensive network, operational expertise and capital can drive significant value to stakeholders. With broad support from our network of senior advisors and operating partners our office is resourced to manage, counsel, and report performance in order to support pro-active decisions,” Amy Hong, Senior Partner at PIR Equities.