Rothschild Merchant Banking has closed its third pan-European buyout fund, Five Arrows Principal Investments III, at its €1.25 billion hard-cap. FAPI III, which had a target of €1 billion, invests in healthcare and education, data and software, and tech-enabled business services companies with enterprise values of €75 million to €300 million.
The oversubscribed fund received commitments from investors in Europe, North America and Asia.
Five Arrows Principal Investments II closed at €775 million in October 2015.