Mid Europa seeking €800m for latest fund – exclusive

The CEE-focused firm's Fund V is seeking the same amount it raised for its 2014-vintage predecessor, PEI has learned.

Mid Europa Partners is back in market with its fifth flagship fund, Private Equity International has learned.

Mid Europa Fund V is seeking €800 million and, like its predecessors, will focus on targets in Central and Eastern Europe, according to a source close to the matter.

Its hard-cap is not clear.

This target is below that of predecessor Mid Europa Fund IV, which accrued €800 million of an €850 million target by final close in August 2014 after around eight months in the market, according to data from PEI.

Investors in that fund include China Investment Corporation and AP Fonden 2, according to PEI data.

The fundraising plans come amid growing investor interest in Central and Eastern Europe. In September Warsaw-headquartered Enterprise Investors closed its Polish Enterprise Fund VIII on €498 million, above its hard-cap of €450 million, after just three months of fundraising. Around 90 percent of capital came from existing investors, the firm said in a statement.

Figures released by Invest Europe in summer 2017 revealed that fundraising by funds targeting Central and Eastern Europe was up 62 percent year-on-year in 2016 at €621 million, driven by a nine-fold increase in investment from outside of Europe, notably the US.

Mid Europa declined to comment.