Kempen raises €192.5m

The Dutch manager closes a co-investment/fund-of-funds near target.

Kempen Capital Management held a final close on Friday of Kempen European Private Equity Fund at €192.5 million ($214.6 million). The target was €200 million ($223 million), PEI data shows.

The fund invests in buyout funds and companies in Europe’s small- and lower mid-market. About half of the fund is earmarked for co-investments sourced directly or through the firm’s partnership as an LP, Kempen wrote in a statement.

Kempen also manages an open-ended vehicle with a similar investment strategy, Kempen Private Markets Fund, which raised €80.8 million as of March 2019, the firm told PEI earlier this year. The Private Markets Fund targets buyout, infrastructure, real estate and agriculture funds and co-investments globally.