MPC launches sixth fund of funds

German fund of funds investor MPC Capital is seeking to raise €25 million from high net worth individuals for a new fund managed by Global Vision.

Global Vision Private Equity Partners, the German private equity fund manager, has secured a sixth mandate from Hamburg-based MPC Capital to manage its latest fund of funds offering for wealthy individuals in Germany.

MPC Global Equity VI will seek to raise €25 million, with each investor committing a minimum of €20,000 to the fund. It will invest in at least ten programmes, according to Global Vision’s Reinhard Hartl, with a “stronger focus” on buyout than venture funds.

The fund is aiming for a final closing by December 31 2005, though it is allowing for an extension of up to six months. It will invest in funds in Europe and the US, and has an estimated duration of ten years.             

Unlike the firm’s previous fund of funds – the fifth MPC Global Equity Fund – the sixth fund will not set aside up to 15 percent of available capital for co-investments in direct deals. Hartl said 100 percent of the capital would be used for investment in funds. He added that some funds had already been identified for investments, but declined to name them at this stage.

MPC is a German listed financial institution set up to cater for high net worth individuals in 1994. It originally invested in ships, real estate and the stock market, before broadening its remit to private equity in 1999.   

Global Vision, which has offices in Hamburg and Frankfurt, is a German fund of funds management company with an overall capital volume of more than €255 million under management.