ARX Equity Partners held a €54 million first close on its fourth flagship vehicle, Arx CEE IV. Launched in October 2015 with a €100 million target, the fund will focus on lower mid-market businesses in Central Europe, with the majority of the capital earmarked for opportunities in the Czech Republic. Despite the first close amount, the fund has known subscribed commitments of €66 million.
The fund's predecessor held a final close in 2009 at €102 million. Alpha Associates, the European Investment Fund (EIF) and the European Bank of Reconstruction and Development (EBRD) all committed to Arx CEE III.
The EIF re-upped, also committing capital to Arx CEE IV. EBRD is yet to announce a commitment to this latest fund.