Crescent Capital is set to become the second private equity firm since 2007 to raise over €100m to invest in Turkey, as investor confidence in the country continues to grow.

Crescent, founded by Aygen Yayıkoğlu, a former senior professional at the European Bank for Reconstruction and Development, is set to announce a first close of around €100m for the fund by the summer, according to two sources close to the situation. The fund, which is scheduled to close next year, has a final target of €200m.