Luxembourg-based firm Castik Capital has reached the final close of its second buyout fund at a hard cap of €1.25bn.

The fund, EPIC II, has a similar strategy to its predecessor, closed in 2016 at €1bn. It aims to make up to seven investments in continental Europe of €200m to €700m and with around €100m to €300m of equity committed per deal.

The new long-term vehicle can remain invested for ten years or more, longer than the traditional five-year holding period for private equity funds. Investors in the fund include existing and new LPs from Europe, Australia, and North America, the firm said in a statement.

Castik was set up in 2014 by experienced investors, including star dealmaker Michael Phillips, the former head of Apax Germany; Michael Groeber, a former investment director at European buyout firm Montagu and Marc-Oliver Jauch, a former investment professional in the business services team at Apax.

The executives today lead a 30-strong investment team, responsible for having sealed six deals since the firm’s inception. Among the transactions are the acquisition of high-end watch components manufacturer Acrotec Group from Quilvest Private Equity for €255m and ipan Group, a provider of intellectual property management services and software, in 2018.

Source: Private Equity News

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