PRINT THIS PAGE Electra Partners Europe closes second pan-European fund at 1.25bn25/07/2005. Source: AltAssets. 
 European mid-market private equity specialist Electra Partners Europe has closed its second pan-European fund, Electra European Fund II, with commitments of 1.25bn. The fund will continue to specialise in European buy-outs in the support services, healthcare, leisure, financial services and industrial sectors in Western Europe.
Typical equity commitments to individual companies will be in the range of 50-150m, although the fund has the flexibility to bridge up to 375m in any one deal.
A diverse group of investors has committed to the fund: by value, 46 per cent come from North America, 44 per cent from Europe and ten per cent from other regions, while by institution, 31 per cent come from pension funds and insurance companies, 24 per cent from endowments/family offices and the rest from state and funds of funds.
Nigel McConnell, managing partner of Electra Partners Europe, said, I am delighted to see the continued support of existing investors in this second fund. More than 80 per cent of the money in Fund II is accounted for by investors in the earlier Electra European Fund.
We placed a hard cap of 1.25bn on this second fund to ensure continued investment discipline during a period of possible excess liquidity in equity and debt markets, McConnell continued.
Electra Partners Europes recent investments include the acquisitions of Covenant Healthcare and Thyssen Krupp Fahrzeugguss (rebranded KSM Castings). The firm acquired Covenant Healthcare for £170m. Covenant comprises the UKs cosmetic surgery company Transform, acute care hospitals operator Abbey and Churchill, the provider of secure psychiatric services.
Thyssen Krupp Fahrzeugguss is a German supplier to the automotive industry. Electra Partners Europe acquired the company for 155m. TKFG supplies safety-critical and high-specification aluminium parts to major global customers including Volkswagen, DaimlerChrysler, BMW, Ford and Porsche.
Recent exits include the sales of Safety-Kleen Europe and Ashbourne Healthcare.
Electra Partners Europe has offices in London, Paris and Frankfurt.
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