Fundraising

Vitruvian Investment Partnership V is already 25% invested, according to details shared with Private Equity International.

The fund has already surpassed its €1.38bn predecessor, which closed ahead of its €1.35bn target in 2019, Private Equity International has learned.

Fund II has both domestic and offshore structures, meaning the total amount sought could be even larger.

Secondaries fundraisers find success through specialisation.

Market conditions remain challenging for African fund managers, but the foundations for growth are beginning to emerge.

African private equity shows potential across several key regions despite lingering challenges.

Big step-ups in the firm's recent fund sizes may be due to greater LP appetite for co-investing as a way to build private equity exposure on a no-fee, no-carried interest basis.

The new flagship offering's target size is 12% larger than Fund IX, which closed in 2021 on $5.6bn.

The transaction has been backed by capital from long-term yield-oriented institutions and not traditional secondaries firms, PEI understands.