Silverfleet Capital and Exponent Private Equity are making progress in raising their latest funds, buoyed by investor sentiment that made last year one of the best years for European buyout fundraising since the financial crisis.

Silverfleet reached a second closing of just over €600 million at the end of last month, according to a person familiar with the matter. The London-based firm, which owns companies including UK shoe retailer Office and fund administrator Ipes, is looking to raise €700 million for the vehicle.