Press Article

Press release issued by Chequers Capital in respect of Chequers Capital XVII


Chequers Capital finalizes the fund raising of its 17th Fund in less than three months

7 May 2017

Chequers Partenaires S.A. (“Chequers”), the Paris-based private equity firm investing principally in control buyouts of European leading mid-market companies, is pleased to announce the single and final closing of Chequers Capital XVII (the “Fund”) above its €1 billion target.

Established in 1972, Chequers Capital has been investing in unquoted companies in continental Europe with a primary focus on France, DACH and Italy. Over the last 45 years, Chequers has been instrumental in promoting the growth of its portfolio companies through selected acquisitions and a focus on international development, enabling the emergence of global industry leaders such as Accelya and TCR.

Chequers Capital XVII was considerably oversubscribed, in less than three months with demand exceeding the fundraising target by more than two times its final €1.1 billion size, attributable to significant support received from existing investors combined with strong interest of new investors.

Chequers Capital XVII has a well-balanced capital base of investors, which includes top tier Pension Plans, Sovereign Wealth Funds and Fund of Funds, diversified by geography, with a substantial representation from Europe and the United States.

Jérôme Kinas, CEO of Chequers Capital said, “We are delighted to have successfully raised Chequers Capital XVII, having received overwhelming demand from investors globally. We feel strongly that this demand represents a vote of confidence in our strategy to back and promote leaders in their market. We remain grateful for the continued support of our existing investors, and we are proud of the high quality of the new investors we now welcome into the Fund. The swift and efficient process was facilitated by the expertise of MVision, our long-standing fundraising partner.”

MVision Private Equity Advisers acted as the global strategic fundraising adviser for Chequers. Goodwin Procter acted as legal counsel.

Background
Chequers is one of the oldest private equity houses in France, originally established in 1972 under the Charterhouse name, and operating independently since.

Chequers Capital XVII will seek to invest in majority control positions in primary buyouts of leading mid-market companies, in all sectors, that have clear potential for operational improvement and regional and international growth. The customary transaction size for investee companies will be between €80 and €350 million enterprise value, with typical equity investments of €40 to €120 million.

”> The Chequers principals and investment professionals form one of the most stable, experienced and deeply connected teams in the Continental European mid-market. The majority of the senior team have worked together for 18 years or more, executing a disciplined strategy that has consistently produced top quartile returns since 1993.

The long and stable history, covering multiple economic and market cycles, has enabled Chequers to accumulate exceptional market experience and pricing knowledge allowing for strong deal flow and close working relationships with senior management teams of portfolio companies.

For further information, please contact:
Jérôme Kinas, CEO, Chequers Capital
T: +33 1 5357 6100 | E: mail@chequerscapital.com

Mounir Guen, CEO, MVision Private Equity Advisers
T: +44 20 7491 8500| E: mg@mvision.com

Or visit http://www.chequerscapital.com

This press release is not an offer of securities for sale in the United States and interests in the Fund may not be offered or sold in the United States absent an exemption from legislation

 

 

 

Chequers Capital XVII tombstone