Arcis edges closer to Fund V target

The secondaries firm is seeking €350m for its latest fund which will focus mainly on Europe.

Arcis Group has raised over three-quarters of the target for its latest secondaries fund, 22 months after launching.

The London-headquartered secondaries firm has raised €267 million so far from 17 investors for European Secondary Development Fund V, according to a filing with the US Securities and Exchange Commission. The fund’s target is €350 million, according to the filing.

Fund V launched in July 2014 and has attracted commitments from limited partners including Sweden’s AP Fonden 3 and Houston Firefighters’ Relief and Retirement Fund, according to PEI data.

Arcis invests in private equity fund stakes and company positions mostly in Europe, as well as Asia and the US. The firm focuses on early stage, growth development and leveraged buyouts and has completed over 230 secondaries deals, according to its website.

The firm was founded in 1993 and has offices in Paris and New York in addition to its London headquarters.

Arcis did not return a request for comment by press time.