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Headway Capital closes 4th secondaries fund at €372M hard cap


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Headway Capital closes 4th secondaries fund at €372M hard cap

Headway Capital Partners LLP closed its fourth secondaries fund, Headway Investment Partners IV, on its €372 million hard cap, Unquote reported.

The fund launched in February 2017 with a target of €300 million.

Investors in the London-based firm's fund include Italian pension fund Cassa Forense, the European Investment Fund and Connection Capital LLP, Unquote reported.

Asante Capital was the placement agent, Macfarlanes served as a legal adviser and Aztec Corporate Finance was the fund administrator.

Headway targets small to medium-sized complex secondary transactions, with a focus on Western Europe and North America at a maximum size of €50 million.

The fund has made 10 investments across Europe and the U.S, and it plans to make 20 more deals. It will sign two more deals by the end of the year, one in the U.S. and one liquidity provision deal in Europe, Unquote said.