CEE investor Abris Capital Partners raises €500m for third fund

Abris Capital, the central and eastern Europe-focused private equity firm, has closed its third fund at €500m.

The vehicle hit target and follows up the firm’s €450m second fund, which closed in 2013. It secured new investments from investors in Europe and the US.

“The fact that we achieved our targeted €500m is, we believe, evidence that our institutional investors share our confidence in the growing quality and scale of the CEE mid-market,” said managing partners and co-founders Neil Milne and George Swirski.

Abris targets mid-market companies primarily in Poland and Romania. It invests between €30m and €75m per transaction, typically taking majority stakes, and has been in the CEE market for ten years.

Recent deals include the €93m exit of Polish mushroom substrate producer Mykogen Polska and the acquisition of Serbian telecoms business Kopernikus Technologies.

Data released by Invest Europe last month revealed that private equity activity in the CEE region hit a seven-year high in 2016, while fundraising rose by 62 per cent on the previous year.