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Swiss firm ALPHA Associates closes second CEE fund of funds on €309m18/10/2007. Source: AltAssets. 
 Zurich-based private equity fund of funds manager ALPHA Associates has closed its latest fund, ALPHA CEE II, on €309m, above its €300m target. The fund will focus on in the CEE region. A first closing on €109m was announced in August 2006.
ALPHA CEE II focuses on funds operating in the mid-market buy-out and expansion financing segments. The fund will also buy fund interests in the secondary market and co-invest alongside some of the funds in its portfolio.
Investors in the new fund include banks, insurance companies, pension funds, funds of funds and family offices, both from Europe and the US. Among them are the European Bank for Reconstruction and Development, a special purpose vehicle arranged by Merrill Lynch International, Hansabank, Kredietbank Luxembourg, Mutuelles du Mans Assurances and Minnesota Life.
The fund is already 40 per cent committed, the firm said.
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