Mid Europa Partners, the largest private equity group in central and eastern Europe, has raised €810m for its fourth fund – half the amount it raised before the financial crisis – as investors take a cautious view on the region amid mounting tensions between Russia and the west.
In addition to the €810m, the London-based fund manager will be able to tap into a further €650m in commitments from investors that want to invest directly alongside the fund manager in deals.
The arrangement, dictated by a handful of Asian and Middle Eastern sovereign wealth funds that have taken large positions in the new fund, means Mid Europa will have up to €1.5bn in total to spend on acquisitions across countries including Poland, the Czech Republic and Slovakia. It does not invest in Ukraine.