BID Equity announces successful closing of €300 Million Continuation Fund
BID Equity Group today announces the successful closing of BID Equity Continuation Fund I SCSp, with total commitments of €300 million. Advised by BID Equity Group and managed by Avega Capital Management as AIFM, the continuation fund brings together a diverse group of investors – led by Five Arrows Secondary Opportunities (FASO), with StepStone Group acting as co-lead investor – committed to supporting the long-term growth of two highly successful investments from BID Fund II: everii Group and JustRelate Group.
everii Group is a DACH market leader for PSA (Professional Services Automation) software. The group was formed in 2021 with the acquisitions of helloHQ and Kobold, followed by six add-on acquisitions in Germany, Austria and Switzerland. Since the entry of BID Fund II, everii Group has increased revenue by >5x and now has about 100 employees that serve >11k customers.
JustRelate Group is a fully integrated customer engagement platform, enabling its customers to efficiently attract, engage and retain customers. The group was formed in 2020 and resulted from the double acquisition of Infopark and PiSA Sales, followed by two add-on acquisitions of Planware and Dartagnan. Since the entry of BID Fund II, JustRelate Group has approximately quadrupled in terms of revenue and now has about 170 employees across its offices in Germany, France and Poland.
The capital raised will accelerate the continued growth of both companies, enabling them each to pursue their next phase of development.
Stephenson Harwood acted as secondaries counsel and Orbit Fund Boutique as funds counsel to BID Equity Group on the continuation fund transaction.
About Five Arrows Secondary Opportunities (FASO)
Founded in 2009 and operating across Europe and North America, the Five Arrows platform represents the alternative assets investment arm of Rothschild & Co, one of the world’s largest and most established independent financial services groups. With over 280+ professionals skilled in private equity and credit, Five Arrows crafted a distinct offering optimized for all stages and investment strategies ranging from corporate private equity, primary and secondary fund investing, co-investments, and senior and junior credit. As of March 31, 2025, Five Arrows manages assets totaling €29.2 billion, serving a diverse global clientele including entrepreneurs, family offices, and large institutional investors. Initially centred in Europe, Five Arrows gradually expanded its activities into the US, collaborating across six offices in Paris, London, Luxembourg, New York, San Francisco, and Los Angeles.
As part of the broad Five Arrows platform, Five Arrows Secondary Opportunities (FASO) focuses on middle-market GP-led secondary transactions across Europe and North America, with a sector focus on Healthcare, Business Services, and Software & Data. FASO has €4.0 billion in assets under management as of March 31, 2025, and is managed by a team of almost 40 professionals, with a 20-year presence on the Secondaries’ market.
About StepStone Group
StepStone Group Inc. (Nasdaq: STEP) is a global private markets investment firm focused on providing customized investment solutions and advisory and data services to its clients. As of March 31, 2025, StepStone was responsible for approximately $709 billion of total capital, including $189 billion of assets under management. StepStone’s clients include some of the world’s largest public and private defined benefit and defined contribution pension funds, sovereign wealth funds and insurance companies, as well as prominent endowments, foundations, family offices and private wealth clients, which include high-net-worth and mass affluent individuals. StepStone partners with its clients to develop and build private markets portfolios designed to meet their specific objectives across the private equity, infrastructure, private debt and real estate asset classes.
StepStone has one of the largest private markets secondary and liquidity solutions platforms globally with $42 billion of assets under management as of March 31, 2025, leveraging deep sponsor relationships and diligence advantages to deliver attractive investment opportunities for our investors. Through its private equity secondaries program, StepStone provides investors with exposure to high-quality assets managed by top performing sponsors. Since inception to March 31, 2025, StepStone has deployed $16 billion in 200+ private equity buyout and growth equity secondaries transactions across a balanced mix of LP-led and GP-led opportunities.
