Macfarlanes has advised IK Investment Partners on the closing of its first IK Small Cap Fund.

The fund reached its hard cap with commitments of €250m from external limited partners, made up of both new and existing investors. The fund will target businesses of less than €100 million in value in core markets including the Benelux, DACH, France and Nordics.

Macfarlanes also advised IK Investment Partners on the establishment of its new small-cap team in Luxembourg and its registration as a full scope alternative investment firm with a European marketing passport.

The Macfarlanes team was led by investment management partner Christopher Good, with senior solicitor Emily Brown assisting.