Rothschild Merchant Banking raises $655m

The investment arm of Rothschild & Co. raises first fund dedicated to US private equity.

Rothschild Merchant Banking has completed the final close of its first US-focused private equity fund, Five Arrows Capital Partners (FACP). The fund received capital commitments of more than $655 million from a group of global investors, including corporations, family offices and entrepreneurs. Its focus will be on lower middle-market companies valued between $72 million and $500 million and operating in healthcare, data & software and business services. FACP makes equity investments between $30 million and $70 million, with the option to commit larger amounts alongside its limited partners.

At final close, the fund had made two investments: the first in December 2017 in The Stepping Stones Group and the second in April 2018 in Datix.