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Golding Capital follows record buyout fund of funds raise with €161m first close of co-invest vehicle

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European private equity investor Golding Capital Partners has hit a €161m first close for its latest buyout co-investment fund.

The Munich-headquartered firm said it had been able to place 75% of its €200m target with investors within just a few months.

Golding Buyout Co-Investment 2020 comes just a few months after the firm held a record €375m final close for its Golding Buyout 2018 fund of funds.

The new vehicle continues a co-invest strategy launched in 2015 to focus on companies with proven business models in defensive sectors, such as health and technology, with conservative capital structures.

It said the fund aspires to a net target IRR of 13% to 15%. The final closing is scheduled for the end of 2021.

Golding partner and head of buyout Daniel Boege said, “In spite of the general yield compression, we believe that we can still identify attractive investments for our investors.

“We are constructing a hand-picked portfolio of companies with sustainable growth – both organic and through buy-and-build strategies.

“One of our earlier investments has accelerated their growth strategy with our investment and is already involved in advanced discussions regarding a possible IPO, thus providing early proof of the attractiveness of our investment strategy.”

The fund has already been used to invest ten companies, with 40% of the target portfolio already allocated.

Golding said the fund is expected to be fully deployed by 2022 in over 20 portfolio companies.

The firm currently administers about €1.9bn of assets in buyout products.

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Source: https://www.altassets.net/private-equity-news/by-pe-sector/buyout/golding-capital-follows-record-buyout-fund-of-funds-raise-with-e161m-first-close-of-co-invest-vehicle.html

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