IK Partners closed its tenth midcap vehicle, IK X Fund, at its €3.3bn hard cap, marking the firm’s largest fundraise to date.

The close comes on the heels of strong institutional demand, with commitments diversified across EMEA (64%), Asia (20%), and the Americas (16%). The firm also reported a record level of capital secured from new limited partners.

IK X surpasses its predecessor, IK IX Fund, which raised €2.8bn in 2020, and follows a period of intense deal flow for the firm. Since the beginning of 2024, IK has completed 20 new platform investments and executed 11 exits.

The fund has already been deployed into seven investments and will continue to target established European mid-market businesses with enterprise values above €200m. IK will maintain its core focus across Business Services, Healthcare, Consumer, and Industrials.