Fund Friday: Top fundraising news in private equity

EQT, Eurazeo, Atomico, Vitruvian Partners, and Northzone have been shortlisted to manage the European Union’s planned €5bn technology investment fund, according to sources cited by Bloomberg.

The vehicle, known as the Scaleup Europe Fund, aims to support companies working in strategic sectors including artificial intelligence, quantum computing, robotics, clean energy, and biotechnology.

The European Commission is expected to appoint an external manager in April. The fund will operate as a public-private partnership, with commitments from institutional investors including pension funds alongside EU capital.

Funds managed by Hamilton Lane have led the closing of a single-asset continuation vehicle launched by Latour Capital to acquire Gutor from its 2019 vintage fund.

Ardian participated as a lead investor alongside Hamilton Lane, while Patria acted as co-underwriter. Existing limited partners and Gutor’s management team also committed capital to the vehicle.

The transaction marks Latour’s first continuation fund and provides liquidity to investors while enabling the firm to retain exposure to what it views as a high-quality industrial platform.

Investcorp has raised $1.25bn for its second GP-stakes fund, underscoring sustained investor appetite for minority investments in private capital firms.

The fund attracted commitments from existing investors as well as new limited partners from Asia, Europe, Latin America, and the Gulf Cooperation Council. Investcorp also broadened participation from private wealth channels, including family offices, registered investment advisers, and high-net-worth individuals.

GP-stakes transactions, which involve taking minority ownership positions in alternative asset managers, have grown rapidly as the private capital industry expands and firms look to strengthen their operational capabilities and long-term succession planning.