Edmond de Rothschild Equity Strategies (ERES) held a final close on its latest fund – ERES III – at the €300 million hard-cap. Capital will be invested as minority shareholdings in private mid-cap companies with an enterprise values of between €100 million and €2 billion. The firms region-agnostic focus means that up to 50 percent of capital can be invested outside Europe, allowing ERES to adapt its investment strategy as required.
Investors in the fund include high net worth individuals and leading financial institutions, both French and international – including a large Asian investor base.
ERES II, the fund's predecessor, raised €217 million at final close in 2011.