London-based Eighteen48 Partners has closed €175 million for the first tranche of its debut private equity fund, targeting €350 million total. The firm focuses on European mid-market buyouts sourced exclusively through independent sponsors — dealmakers who identify acquisition targets before raising capital, rather than deploying from a pre-committed blind pool. Eighteen48 has deployed over €200 million in this strategy since 2020, giving it a six-year track record before formally launching the fund. The independent-sponsor model, long established in the US, is gaining traction in Europe as experienced dealmakers leave established firms, family offices seek direct private company exposure, and traditional fundraising environments remain challenging. Nearly 87% of European PE professionals surveyed by IPEM described 2026 as a good year for dealmaking, the most bullish sentiment in five years.
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