Argos Soditic has set a November deadline for the final close of its seventh buyout fund.
At this point it will close the fund regardless of commitments received, according to a spokesperson for the firm. It has raised around €400m to date, and is seeking €550m with a €650m hard cap.
The fund was scheduled to close in Q1 this year but political uncertainty surrounding the French presidential election and longer than anticipated regulatory compliance processes for some investors have delayed the close, as previously reported by Real Deals.
The choice of some LPs to move away from mid-market funds in favour of the larger vehicles has also slowed the raise, according to a person familiar with the process.
The fund reached a first close at around €300m in November.
Argos Soditic has already made a number of investments from the vehicle, backing aerospace services provider Revima, home fragrance business Lampe Berger and inflatable boat manufacturer Zodiac Milpro.
Argos Soditic’s previous fund, Euroknights VI, closed at €400m in 2011.