Melior Equity Partners, a new private equity firm launched by a former Carlyle Group Ireland team, has raised up to $17m for its maiden fund.
The Melior Equity Partners II SCSp is looking to raise $105m, according to a US Securities and Exchange Commission filing. The document has converted the amounts for the fund from euros to dollars, so the fund is looking to raise around €88m.
According to the filing, there have been four investors to support the fund, so far.
Asante Capital Group Advisors has been listed as the placement agent and will operate in Colorado, Illinois, Michigan, New York, Pennsylvania and the District of Colombia.
The document does not make it clear if the $105m figure is the hardcap for the vehicle.
An article from Pitchbook claims Melior Equity Partners has actually held the €115m first close for the fund.
It also claims there is a €175m target for the vehicle.
The investment firm, which launched this year, was founded by Jonathan Cosgrave and Peter Garvey, who co-led The Carlyle Group’s investment activities in Ireland.
Melior typically invests into small and medium-sized buyout and growth equity.
Deals range from €5m and €30m, with the option for larger investments.
Melior partner Jonathan Cosgrave said, “The private equity market remains underpenetrated in Ireland and having helped to grow the market here – private equity investment has seen deal volumes increase over 50% since 2014 – we see an exciting opportunity over the next decade for Melior to continue to support Irish companies achieve their growth ambitions.”
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