Monument Group announces the close of VIP III on €2.4bn hard cap
London, 30 June 2017 – Monument Group announces the final closing of Vitruvian Investment Partnership III (“VIP III”), oversubscribed at its hard cap of €2.4 billion. Founded in 2006, Vitruvian invests in higher growth middle-market companies in Europe. Monument Group initially worked on Vitruvian Partners’ inaugural fundraise in 2008 which closed on €925 million. The Firm went on to raise a £1.0 billion (€1.3 billion equiv.) second fund in 2013.
Mike Risman, Managing Partner and a Founder of Vitruvian, commented “Monument Group’s intellectual engagement with each step of the challenge was impressive. The experience of the whole team and their longstanding credibility with investors has been a tremendous asset in our process. Their professionalism and firm-wide commitment has been world class.”
VIP III attracted substantial commitments from both existing and new investors, including leading corporate and state pension funds, sovereign wealth funds, fund of funds, endowments and foundations. The investors originate from Europe, the US, the Middle East and Asia.
Laurence Zage, Partner at Monument Group, said “Vitruvian’s proven team, differentiated “dynamic situations” investment strategy and its strong track record of investment performance was a compelling proposition for a large number of well-regarded institutional investors from around the world and enabled a fast fundraising to get to the fund’s cap”.
VIP III will continue the firm’s strategy of investing thematically, primarily in buy-out and growth buy-out control investments in Europe as well as select unleveraged minority investments. Similarly, Vitruvian will continue to focus the majority of capital on higher growth middle-market companies principally in the €75-€500 million enterprise value range.
Monument Group acted as advisor and Monument Group and Park Hill Group acted as co-placement agents on the private placement of the Fund.
