Parquest Capital closes new fund

Parquest Capital 2 exceeds target and is oversubscribed in its first and final closing at €310 million

Paris, 22 May 2017. Parquest Capital today announced the first and final closing of its second lower mid-market private equity fund, Parquest Capital 2, with total commitments of €310 million. Parquest Capital 2 received significant interest from both existing and new investors, with demand surpassing the fund’s target cover of €250 million and original €300 million hard cap. Investors in the fund include a diverse group of funds of funds, pension funds, financial institutions, insurance companies and government agencies.

Like its predecessor fund Parquest Capital 1 (a fund created in April 2014, after ING Parcom Private Equity successfully gained full independence from the NN Group and rebranded as Parquest Capital), Parquest Capital 2 will continue its successful investment strategy of investing in SMEs in the lower end of the French mid-market, with a long term relationship approach.

Denis Le Chevallier, Founding Partner of Parquest Capital, said:
“Following on the strong performance of Parquest Capital 1, we are extremely pleased with the highly positive response Parquest Capital 2 received in the market, both from all historical and new investors. The fundraising was completed in seven months, and we sincerely appreciate the confidence that our investors have placed in us to continue to deliver superior returns for the millions of stakeholders they represent.”

“We believe that key success factors of Parquest Capital supporting this first and final closing have been our cohesive, stable and highly experienced team of 12 professionals; our proactive sector driven approach that capitalizes on the team’s deep sector knowledge and networks, and our systematic hands-on approach when it comes to the transformation of our portfolio companies.”