Mid Europa Partners has announced the final close of its Mid Europa Fund IV at €800 million ($1.07 billion), just over half the size of the vehicle’s predecessor. The fund, which focuses on buyouts in Central and Eastern Europe, is complemented by a pre-allocated co-investment program of €650 million ($872 million). The firm had raised €1.5 billion ($2.01 billion) in commitments for Mid Europa Fund III in 2007; it has recorded a 3.60% IRR as of December 31, 2013. A hard cap on Fund IV was reportedly dropped to €850 million ($1.14 billion) in January, following an initial fundraising target of €1 billion ($1.34 billion) and hard cap of €1.25 billion ($1.68 billion). Credit Suisse served as placement agent.