Rothschild Merchant Banking closes €775 million fund

The merchant bank’s private equity unit’s latest fundraise closed €75 million above its target.

Rothschild Merchant Banking has completed fundraising for its Five Arrows Principal Investments II fund on €775 million, €75 million over its initial target amount, the firm said.

The buyout fund held a first close on $493 million in March as reported by Private Equity International reported. It made its first investment in June via the acquisition of Denmark’s Karnov Group.

Marc-Olivier Laurent, head of Rothschild Merchant Banking, said in a statement that the closing marked the sixth consecutive fund launched by Rothschild Merchant Banking that has exceeded its fund raising target.

The new fund’s investment activities will be overseen by co-managing partners Javed Khan and Emmanuel Roth of Five Arrows’ London and Paris offices, respectively, who together oversee a team of 20 professionals.

The fund will invest in European businesses across a broad range of industries, including healthcare, education, business services, software and consumer-oriented companies. It will mirror the strategy of Five Arrows first fund, a €585 million, 2010 vintage vehicle that has completed 16 transactions across the UK, France, Germany, Scandinavia and Italy over the last five years.