Alto Partners raises €152m

The Milan-based fund manager exceeds target size for fourth fund at second close.

Alto Capital IV has held a second close at €152 million. The firm’s latest mid-market vehicle has already exceeded its €150 million target but will continue fundraising over the next few months. The fund will invest €15 million to €20 million in Italian companies with enterprise values between €25 million and €60 million.

Fifty-four investors have committed to Alto Capital IV, including pension funds, funds of funds, banks and family offices.

Alto Capital III held a final close at €120 million in March 2013. Investors in this fund included Fondo Italiano di Investimento SGR SpA, the European Investment Fund and Veneto Banca.