Europe-Focused Buyouts

by Louise Maddy

  • 14 Mar 2011
  • PE

Preqin data shows there are 42 Europe-focused buyout funds currently on the road seeking aggregate EUR 25.4 billion in commitments.  52% of these funds have already had at least one interim close, raising an aggregate EUR 8.9 billion.

The largest Europe-focused buyout fund currently seeking capital is BC European Cap IX, which is targeting EUR 6 billion. The vehicle will invest in 15-20 companies within a diverse range of industries including business services and consumer products.

The second largest Europe-focused buyout fund currently on the road is EQT VI. The fund will deploy capital in the Nordic region and German-speaking Europe through the acquisition of corporate spin-offs, family-owned businesses, public-to-private deals and acquiring holdings from other private equity firms.  It is targeting EUR 4.25 billion for investments across a range of industries.

Data from Preqin’s Fund in Market product reveals that private equity fund managers based in Europe are responsible for raising all but one of the buyout funds currently on the road aiming to invest primarily in Europe. 36% (15) of the managers are based in UK, 19% based in France, and the remaining fund managers are located in a broad range of European countries including Germany and Italy. Sweden is home to two fund managers currently raising Europe-focused funds accounting for 17% of the funds currently on the road.

In 2010, 31 Europe-focused funds closed raising EUR 12.5 billion in aggregate capital. The EUR 2.25 billion Triton Fund III was the largest fund to close in 2010. The vehicle invests in mid-market buyout transactions in business services, industrial, consumer products and consumer services companies across Europe, but mainly concentrates on German-speaking and Nordic countries.

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