Europe-Based Fund of Funds Managers Currently in Market - October 2012

by Jessica Duong

  • 11 Oct 2012
  • PE

Preqin’s Funds in Market database shows that there are presently 55 fund of funds vehicles seeking capital on the private equity market, that are being raised by 34 Europe-based managers. Collectively, the 55 private equity fund of funds are seeking an aggregate EUR 6.2bn. Preqin’s data shows that 45% of the vehicles have reached an interim close already, and have collectively garnered EUR 2.3bn to date.

The largest fund in market in terms of target size is Euro Choice V, which is targeting EUR 720mn and is being raised by Switzerland-based manager Akina. Euro Choice is Akina’s flagship fund series which specifically targets the European mid-market, and has attracted EUR 1.5bn from clients around the world. In particular, Euro Choice V’s strategy encompasses buyout, growth capital and, selectively, special situations fund investments on both the primary and secondary market.

Analysis into the geographical focuses of the 55 private equity fund of funds reveal that 58% of the vehicles are Europe-focused, 27% are predominately North America-focused, and the remaining 18% target Asia and Rest of the World region funds. Further data highlights a concentration of managers raising fund of funds in certain countries. A leading 35% of the Europe-based managers that are currently raising at least one fund of funds vehicle is based in Switzerland. The next majority comes from Germany, where 18% of the private equity fund of funds managers are headquartered, followed by the UK which comprises 15%.

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