Employee-owned private equity house PIR Equities has taken just four months to hit a €275m hard cap close for its third flagship fund, after strong performance from its predecessor vehicles.
The firm invests across FinTech, payments, wealth and asset management, specialty finance and business services, as well as oil and gas, energy, infra and real estate.
It targets investments of $15m to $35m, typically seeking to take control positions.
PIR said its prior funds had net IRRs of between 24 per cent and 33 per cent, which spurred strong investor demand for the latest vehicle.
The firm, which was formed in 2008 by Joseph Aaron Horowitz and Oded Kobo, manages a portfolio including interests in property, securities, technology, and ownership in operating businesses with over $650m in assets.
Horowitz said, “We are proud of the strong and continuous support we have received from our partners.
“We plan to remain patient in deploying capital, but will be ready to invest when we see the right opportunities emerge.”
Co-founder Horowitz previously held various roles at Goldman Sachs, where he spent 12 years focusing on real estate opportunities and investments.
Last August the firm committed to invest $50m in blockchain tech companies over a 12-month period.
Around the same time it committed capital to a $500,000 seed round for online donation and crowdfunding platform GiveHope.com.
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