ACP Capital, the Aim-listed merchant bank and asset management company set up by former Nomura banker Derek Vago, is buying a near one-fifth stake in a German private equity firm as part of a three-pronged growth push in the country.

ACP floated on London's junior alternative investment market in January last year and raised a further £150m (€221m) two months ago to help fund its ambitions to grow its business in Germany, Italy, France and the UK.