Five of the 10 most popular funds in the secondary market over the last six months have the European mid-market as their investment focus, according to research carried out by online private equity marketplace Palico.

“With the euro relatively weak against the dollar on a historic basis, many investors clearly continue to believe that the best bargains today are in Europe,” Palico said.

The most popular European funds in the secondary market were PAI Europe VI (1st in the list), EQT VI (3rd), EQT V (4th), Alpha Private Equity VI (7th) and Apax VII (8th).

Palico considered it striking that the top spot in the list was held by a fund that closed fairly recently.

“Marked interest in such recent funds, with some 50 percent or less of their capital invested, is typical at times when pricing in the secondary market is considered relatively full,” Palico said.