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Actera closes $475m fund for Turkey10/12/2007. Source: AltAssets. 
 Istanbul-based private equity firm Actera Group has closed its debut fund, Actera Partners, on over $475m. The new vehicle is the largest private equity fund dedicated to investments in Turkey. It has exceeded its initial target by 30 per cent, according to a statement.
Commitments came from pension funds, multilateral institutions and sovereign wealth funds from North America, Europe, the Far East and the Middle East. The fund's cornerstone investors, Teachers' Private Capital and the Canada Pension Plan Investment Board, committed €75m each. The European Investment Fund, the risk capital arm of the European Investment Bank, has committed to invest €44m in the fund, representing the EIF's first investment in the Turkish market.
Actera Partners will focus primarily on buy-out and growth equity investments across various industry sectors in Turkey. In addition, the fund seeks to partner with Turkish companies to support their expansion to other countries.
The fund has already completed its first transaction. In partnership with US buy-out giant TPG it has invested in Turkish spirits company Mey Icki Sanayi.
Isak Antika, managing partner and co-founder of Actera Group, said, 'Turkey is undergoing a fundamental transformation which is reshaping its economic landscape and underpinning its convergence with the developed economies of the world. Given the size of the Turkish economy, such convergence will result in substantial value creation opportunities.'
Actera was established in early 2007.
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