Exclusive: Stirling Square collects €500m for Fund III

The European mid-market firm has held a second close on its third fund above its €500m target

Stirling Square Capital Partners, a European firm focused on the mid-market, has held a second close above its initial target of €500 million on its third fund, Private Equity International has learnt.

The fund, which officially came to market last year, held a first close on just over €300 million around Christmas, PEI reported earlier.

It is understood that the fund, which has a hard-cap of €600 million and has attracted commitments from both existing and new investors, is expected to hold a final close at the end of summer.

It is understood that Rede Partners is placing the fund.

Both Stirling and Rede declined to comment on fundraising.

Fund III has already collected more than its predecessor. The 2010-vintage Stirling Square Capital Partners II closed on €375 million. That fund includes a general partner commitment of €28 million, representing roughly 7.5 percent of the total fund.

Founded in 2002, Stirling targets businesses with enterprise values of between €50 million and €500 million. It tends to take control investment positions in market-leading businesses that have potential for organic growth and further consolidation within the industry or opportunities international expansion.