Mid Europa Partners has raised more than €1bn ($1.4bn) for buyouts in central Europe, smashing the previous record for the largest fund in the region and despite investor concerns over the availablity of debt financing for private equity deals.

Mid Europa, which also focuses on eastern Europe, has held its first close for the fund, for which it began raising capital three months ago. The private equity firm has also increased the fund's hard cap from €1.25bn to €1.5bn.