Zurmont Madison has closed its debut fund with more than CFH 250 million (€160 million; $206 million) in capital commitments.
The fund, which was targeting CHF 200 million, held a first closing on CHF 72 million in May 2007.
It will target companies of approximately CHF 30 million for management buyouts, buyins and spin-outs in Switzerland, Germany and Austria.
Zurmont Madison was created in 2006 when Werner Schnorf and Björn Böckenförde, founders of private equity firm Madison Management, and Guido Patroncini, founder of fellow Swiss firm Zurmont, merged their firms.
More than one-third of the limited partners investing in the Zurmont Madison fund have invested previously in either Zurmont or Madison. These include Swiss pension funds such as Richemont, Sulzer and Canton of Vaud.
Approximately 55 percent of the fund's capital came from institutional investors; nearly a quarter from pension funds; and approximately 20 percent from private individuals and family offices.
Zurmont Madison’s portfolio investments include German tent manufacturer Röder Zeltsysteme and SMB SA, the Swiss metallurgy specialist. It has invested more than CHF 360 million since the merger in 2006.