German private equity firm Equity Capital Management has held a final close of €230 million for its latest fund, surpassing its original target by €30 million despite a highly challenging European fundraising environment.
The firm has raised capital from more than 20 investors including funds-of-funds, insurance companies, family offices and pension funds. ECM's latest fund, GEP IV, a general mid-market fund, will have a 10-year life span with further options for two one year-extensions, ECM said in a statement.
