Argos Soditic hits €400m hardcap

European-focused private equity house Argos Soditic has added its name to the growing list of firms announcing fund closings.

Argos Soditic has closed its Euroknights VI fund at its hardcap of €400 million, the firm announced this week. That surpasses the firm’s fifth Euroknights fund, which closed in 2006 with €275 million.

The firm targets small to mid-sized companies predominantly in France, Switzerland and Italy. More than 90 percent of limited partners in Fund V returned for Fund VI, the firm said. The sixth fund is made up of roughly 30 investors, including pensions, sovereign funds, insurance companies, funds of funds and family offices.  A majority of investors are Europe-based, but 25 percent of the fund is made up of US investors and more than 10 percent comes from LPs in Asia, Australia and the Middle East.

“We believe that the LP/GP relationship is the core of what we do and to be able to rely on such a high proportion of re-ups in such a difficult environment has been enormously reassuring,” said Guy Semmens, partner at Argos Soditic, in a statement.

Argos acquired Piedmont-based power plant designer Termoindustriale for an undisclosed amount in July, using capital from Fund V.