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Genesis Capital passes €100m for latest flagship Central Europe PE fund, eyes €150m hard cap by year end

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Central Europe-focused Genesis Capital has pulled in more than €100m towards a new flagship private equity fund – and is eyeing 50% more than that for a hard cap close.

The firm said Genesis Private Equity Fund IV would focus on investments in leading companies with attractive growth potential domiciled in the Czech Republic, Slovakia, Poland, Hungary and Austria.

Genesis said it expected to hit its hard cap for Fund IV by the end of the year.

The vehicle is the sixth raise from the firm. Earlier this year it struck a hard cap close for its debut growth fund, which will look to expand out promising Czech Republic and Slovakian businesses.

Fund IV will target B2B services, light and medium manufacturing, IT services and specialised retail/e-commerce and consumer-oriented services.

Firm managing partner Ondřej Vičar said, “We only invest into situations where we are relevant as a partner.

“We tend to team up with parties which are able to present a growth story that leads either to an achievement or to a strengthening of the already existing leading market position within the given business segment, in a given geography and within the dedicated investment lifetime.

“Through this strategy, we very often help the local leaders to become regional ones.”

Investors in Fund IV so far include the European Investment Fund (EIF), Česká spořitelna bank, two insurance companies of Vienna Insurance Group, asset managers Amundi Czech Republic, Raiffeisen Investment Company and Sirius Investment Company, Swiss fund-of-funds Alpha Associates and family office SPM Capital.

Vičar added, “The GPEF IV fundraising process has been the most robust and ambitious, and yet the fastest in the Genesis Capital history.

“The appetite of investors for GPEF IV fully mirrored not only the outstanding results of the predecessor fund, but as well the recent dynamic growth of the Genesis Capital group as such.

“Over the past five years, we have strengthened in multiple aspects and significantly increased our market presence.

“We have tripled the number of people working for the group, more than doubled the volume of assets under the management, restructured and streamlined the operations, as well as established an alternative fund line of Genesis Capital Growth funds.”

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Source: https://www.altassets.net/private-equity-news/by-region/europe-by-region/central-and-eastern-europe-by-region/genesis-capital-passes-e100m-for-latest-flagship-central-europe-pe-fund-eyes-e150m-hard-cap-by-year-end.html

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