V4C to hold interim close on CEE fund – exclusive

The Warsaw-based firm held a first close on over €75m in December and will complete another this month to accommodate an additional limited partner, PEI understands.

Value4Capital is planning to hold an interim close on over €80 million in January for its central and eastern European private equity fund, Private Equity International has learned.

The Warsaw-based firm held a first close on more than €75 million in December and will complete another this month to accommodate another limited partner, a source familiar with the matter told PEI.

V4C Poland Plus, which has a €150 million hard-cap, attracted commitments from individual Polish investors, the source said. It also received a €35 million commitment from the European Investment Fund and up to €25 million from the European Bank for Reconstruction and Development, according to an April statement from V4C announcing the fund launch.

V4C declined to comment.

The latest fund marks V4C’s first independent vehicle since it span out from Amundi Private Equity in 2011. It will target controlling stakes of €10 million to €25 million in services companies across the CEE region.

V4C Eastern Europe II, a €156 million 2007-vintage, is now almost completely divested, the source added. Polish security services firm Konsalnet is the only remaining asset in V4C’s current portfolio.

CEE-focused private equity funds raised just €200 million in the first half of 2017, according to Invest Europe data.