Equistone raises €2bn for fifth fund

EQUISTONE, the  European mid-market private equity house has closed  its fifth fund at €2bn.

The investor, which has an active office in the North West with a portfolio of investments including technical recruiter Fircroft and Travel Counsellors, said its team would be investing alongside the institutional investors in the latest fund.

The firm said fundraising has been completed just six months after being launched in early October 2014 and had exceeded its initial target of €1.75bn.

It said the fifth fund, like its predecessors, would focus on investing in European buyouts valued between €50m and €300m, targeting well-positioned businesses with strong growth prospects.

Steve O’Hare, Equistone’s Manchester-based partner who covers the North, said the latest fundraising was testament to the firm’s track record delivered by previous funds.

“We pride ourselves on identifying companies with strong growth potential and high calibre management teams, working in close partnership to build market leading businesses. We remain excited about the opportunities in the North of England and the ability of our experienced team to take advantage of these.”