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Greenhill Capital Partners Europe holds first closing on £106m11/05/2007. Source: AltAssets. 
 Greenhill & Co. has completed the first closing of its first European mid-market buy-out fund, Greenhill Capital Partners Europe, on £106m. The firm expects to close the fund on around £200m by the end of this year.
Greenhill has committed £25m to the fund and, in addition to that, the firm's managing directors and other professionals have committed a further £39.5m. The remaining 39 per cent of capital has been raised from institutional investors, wealthy families and qualified corporate executives.
GCP Europe plans to make private equity and equity-related investments in mid-market companies primarily located in the UK and Continental Europe. The new fund will typically make controlling or influential minority investments of between £10m and £30m in companies with enterprise values of £50-250m.
Robert F Greenhill, chairman and CEO of Greenhill & Co., said, 'The creation of our first European private equity fund is an important step in our strategy of expanding our merchant banking activities. Like our US fund, GCP Europe will focus on much smaller transactions than those on which our client advisory business is focused, thereby avoiding any potential for conflicts.'
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