The Actera Group has finally closed their Actera Partners fund at over $475 million according to an AltAssets report. This would be a new Turkish fund record, and would most likely bring 2007 to a close with an increase in the private equity funding pool of over $1 billion.
Believe me when I tell you, I have seen a google search come from every country on this site, so Actera's reach has spread far and wide, whether it be through their road shows or due dilagence. Indeed, according to the statement, "commitments came from pension funds, multilateral institutions and sovereign wealth funds from North America, Europe, the Far East and the Middle East."
The main points of the statement include:
Actera Partners will focus primarily on buy-out and growth equity investments across various industry sectors in Turkey. In addition, the fund seeks to partner with Turkish companies to support their expansion to other countries.
So, congratulations go to the gentlemen operating Actera Partners, Isak Antika (of Antika Partners) and Murat Cavusoglu (previously of the George Soros SE Europe Fund/Bedminster Capital). Since starting the fund in early 2007, they truly have done a lot to promote Turkey to the rest of the world. Now, it is only a matter of time before we see more PE come to Turkey. Private equity in Turkey has finally started to blossom, and the world is finally taking note of the small-mid-large cap opportunities that are awaiting investment, especially as funds have continually gotten bigger. This still confirms a gap, and venture capital can only be next as one of Turkey's great potential opportunities that await investment.
The fund has already completed its first transaction. In partnership with US buy-out giant TPG it has invested in Turkish spirits company Mey Icki Sanayi.
Isak Antika, managing partner and co-founder of Actera Group, said, 'Turkey is undergoing a fundamental transformation which is reshaping its economic landscape and underpinning its convergence with the developed economies of the world. Given the size of the Turkish economy, such convergence will result in substantial value creation opportunities.'
For some more background on Actera and one of Grandstanding Traction's most popular posts, please visit, "New Turkish PE Fund by Actera Partners to welcome Canadian Pension Funds to Turkey"
The Actera Group website is still under construction.
Technorati Tags: Private Equity, Isak Antika, Antika Partners, Deal Flow, Turkey, Murat Cavusoglu, Actera Partners
Labels: Actera, Fund Closings, fundraising, Private Equity