Rothschild Merchant Banking Group has held the final close on its latest secondaries fund and anticipates Brexit and financial regulations will drive dealflow for the fund, PEI sister title Secondaries Investor reports.
The banking group’s Five Arrows Secondary Opportunities unit raised €451 million for Five Arrows Secondary Opportunities IV after about four months of fundraising, Mireille Klitting, the unit’s managing partner, told Secondaries Investor.
The fund’s target was €400 million and there was no hard-cap.
“We’re focusing on small to mid-sized transactions where we are still able to have proprietary dealflow,” Klitting said. “Our angle is to target those transactions where competition is limited but where we can avoid a large auction.”
The firm has hired three staff this year including Mathieu Bonnet, who joins as investment director from Paris-based secondaries firm BEX Capital. Bonnet spent almost two and a half years at BEX and has experience in leverage and acquisition finance at Crédit Agricole and Société Générale, according to his LinkedIn.
Read more by visiting Secondaries Investor.