According to a source who was familiar with the matter, the new institutional fund of Cudos Capital had recently reached its first closing. It was not clear how much funding did Cudos Capital had raised on its first close. The source disclosed to news aggregator EFinancial News that the new fund would hope to raise EUR150 million. The funding, the source added, would go towards investments in restructurings, mid-market buyouts, growth equity deals in Vienna and its surrounding areas.
Coincidentally, Cudos was co-founded two years ago by former Austrian chancellor Alfred Gusenbauer. Gusenbauer was an outspoken critic about buyouts during his time as chancellor in 2007 and 2007.
Gusenbauerwas was also head of the Social Democratic Party of Austria during his time as the Austrian chancellor. In March 2007, he lodged an issue over private equity ownership of large public companies in his country. Gusenbauer voiced out his concerns over the consolidation of Austrian steelmaker Böhler-Uddeholm by CVC Capital Partners. Nonetheless, the buyout of the steelmaker had failed.
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