Abac Capital held a €320 million final close on its maiden fund, Abac Solutions I. The vehicle was fundraising for two years, having launched in May 2014 with a target within the region of €300 million to €350 million and with a €375 million hard-cap.
Investments will be made into mid-market opportunities in Spain with the firm hoping to invest around €20-€50 million into eight to twelve companies.
Pension funds, financial institutions, endowments, family offices and funds of funds all committed to the vehicle, with 60 percent of the capital coming from European investors. A further 30 percent originated from North American investors and ten percent from Asia-Pacific.
King & Wood Mallesons offered legal advice on the fundraise. MVision Private Equity Advisers aided the capital raising process.