Abris Closes Second Fund at €450M

CEE-centric investment firm Abris Capital Partners have met their hard-cap target of EUR450 mln for their Fund II. There were 21 investors for this fund against 18 for Fund I; of the 21, approximately half the LPs were from Europe, with the remaining being spread out over Australia, the Middle East and United States. Notably absent from the investors’ list were the EBRD, Alpha Associates and the European Investment Fund, indicating a possible increase in overseas interest in Abris. Of note also is the fact that Abris has completed two closes without making a single exit – a fact that indicates their hesitance to exit a company during a buyer’s market landscape. Abris closed its first fund at EUR210 mln in October 2011. The focus market for the new fund will be mid-cap companies in the CEE region. Abris currently operates out of Poland, Romania and Ukraine.