About This Fund
Castik Capital EPIC III is the third flagship private equity fund of Castik Capital, a Munich-based mid-market buyout firm founded in 2014 by Michael Phillips. The fund completed its final close in September 2024 with EUR 2 billion in total capital commitments, exceeding its original target of EUR 1.75 billion and representing a 60% increase over predecessor fund EPIC II (EUR 1.25 billion, 2020). The investor base comprises public and private pension funds, sovereign wealth funds, insurance companies, endowment funds, foundations, and individual investors, with a re-up rate of over 90% from existing LPs — a strong validation of predecessor fund performance.
EPIC III pursues Castik Capital's core investment strategy of acquiring significant ownership positions in high-quality European businesses operating within highly fragmented markets, typically with enterprise values ranging from EUR 80 million to EUR 350 million. The firm targets founder- and management-led businesses headquartered in Europe with strong organic growth profiles that can be accelerated through market expansion, strategic add-on acquisitions, and operational improvements including digital transformation. Castik's investment style emphasises close partnership with management teams across sectors including business services, consumer, healthcare, and technology-enabled companies across Western Europe.
EPIC III is registered as a Luxembourg-domiciled investment vehicle, consistent with Castik's earlier fund structures. Monument Group advised in the U.S. and Europe, Pacific Fund Management in Japan, with Poellath and Partners and Fried Frank as legal counsel. EPIC III follows EPIC I and EPIC II, the latter closing at EUR 1.25 billion in October 2020 — more than double the inaugural fund — demonstrating Castik's ability to attract growing institutional allocations as the firm matures and its European mid-market buyout track record strengthens across its portfolio of founder-led businesses.