Fundraising

Access Capital makes final close on third fund

The Paris fund of funds, with €307 in fresh capital commitments, has already made commitments to 15 GPs.

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Paris-based fund of funds specialist Access Capital Partners has closed ACF III Mid-Market Buy-Out Europe, the firm announced in a statement. The total commitment made to the fund totals €307 million ($399 million).           

The initial target for the fund was €250 million. It will be used to invest in mid-market buyouts, the statement said. “Commitments have already been made to 15 funds including three secondary positions that have recently generated strong liquidity,” the statement said. “ACF III Mid-market Buyout Europe is expected to be fully committed by mid-2007.

Though the statement did not directly name specific limited partners in ACF III, it did note that the investors came from a range of geographic locations, including France, Finland, Germany and the UK.

Founded in 1999, Access Capital now has approximately €1.65 billion ($2.14 billion) in assets under management, the statement said. The firm expanded its presence by opening a second office in Munich, Germany in December, and is run by three managing partners: Dominique Peninon, Agnès Nahum, and Phillippe Poggioli.