Alex Lynn
Mirabaud has raised €50m for its ‘Living Heritage Fund’, which will back European SMEs with long histories.
The sovereign wealth fund, with estimated assets of $828bn, will broaden its focus in ‘rapidly developing’ Asian private equity markets.
The firm’s $990 million Africa Fund III aims to benefit from the continent’s rapidly expanding middle class.
The fund is more than double the size of its 2013 predecessor.
The deal follows ECI 8’s divestment of Kelvin Hughes’ navigation arm last year.
The New York-based firm’s $6.9bn take-private adds to a growing trend of private equity firms delisting public companies.
TPG Pace Holdings will target underperforming companies in the technology, media or business services sectors.
The firm, which is backed by two large Danish pensions, has hired a German dealmaker and established an office in Munich.
Carlyle’s sale of Holland & Barrett for £1.8bn is the latest in a string of UK mega-buyouts.
The European-Asian fund has sealed its first US deal, the fourth investment from its $1 billion debut fund.