European private equity investment firm Castik Capital announced the final closing of its third fund EPIC III with total capital commitments of €2 billion. The fund raise exceeded the target of €1.75 billion and represents a 60% increase on its predecessor fund, EPIC II, which closed at €1.25 billion in October 2020.
EPIC III will follow Castik Capital’s investment strategy of creating market leaders by focusing on high-quality and growing businesses in highly fragmented markets that are headquartered in Europe and led by strong management teams or founders. And Castik Capital partners with management teams on specific value-creation plans to achieve an improved growth trajectory – through expansion to new markets, add-on M&A, and investments into the core business, such as digitization and new technology.
The investors in EPIC III are a mix of new and existing investors, including public and private pension funds, sovereign wealth funds, insurance companies, endowment funds, foundations, and individual investors. And the fund had strong support from existing investors with a re-up rate of over 90%.
Castik Capital was advised by Monument in the U.S. and Europe and by Pacific Fund Management in Japan. And Pöllath & Partners and Fried Frank acted as legal advisers.
KEY QUOTES:
“The final close of EPIC III marks the end of a very successful fundraising and is a testament to our proven investment strategy. We thank our existing and new investors for their support and look forward to backing high-quality companies and helping them realise their full potential. We see significant opportunities to invest in European companies and deliver value for all our stakeholders.”
-Michael Phillips, Managing Partner at Castik Capital
