HQ Capital raises $375m for FoF programme

The firm has held a final close on its seventh fund, Auda Capital VII, which specialises in primary and secondaries investments in the US and Europe.

HQ Capital 's seventh fund, Auda Capital VII (ACAP VII), a fund of funds vehicle, held a final close on $375 million, above its target of $350 million, according to a statement from the firm on Tuesday. 

HQ Capital will make primary and secondary investments in private equity funds from ACAP VII.

The fund offers two separate vehicles, one for US investments and one for European investments. The fund's limited partners consist of insurance companies, pension funds and large family offices, according to the statement. 

It's unclear how large was the predecessor vehicle, but ACAP IV, held a close on target at $787 million in 2007. Limited partners included Finnair Pension, Elo Mutual Insurance Company and WealthCap, among others. 

HQ Capital did not respond to request for comment. 

HQ Capital has more than $11 billion in assets under management, as of 31 March 2016. HQ Capital currently manages $5.6 billion in original commitments in private equity in North America, Europe and Asia, and more than $500 million in total capital commitments to small and medium-sized enterprises in the German-speaking regions of Europe, as of the first quarter of 2016. The firm has more than 140 employees in 11 offices around the world, according to the firm's website.  

Frankfurt, Germany-based HQ Capital was formed in 2015, by combining alternative investment managers Auda, Real Estate Capital Partners and Equita. Through Auda and Real Estate Capital Partners, HQ Capital has been active in private equity and real estate since 1989. Through Equita, HQ Capital has been acquiring majority stakes in companies in the German-speaking regions of Europe since 1992.