The investment firm completed fundraising for the vehicle within four months of its November launch, marking its largest capital raise to date. Equistone's previous-biggest effort was its €2.45 billion Fund III, which closed in 2007.
The fund will be used to invest in Western European businesses with a value of between €50 million and €500 million.
Fund VI is yet another indicator of the huge investor appetite for PE exposure in their quest for yield, which has led to a number of 10-figure vehicles of late.
Including Equistone's effort, there have been nine multibillion-euro buyout funds raised globally in 2018 already, per PitchBook. These are led by two European funds; EQT's €10.75 billion vehicle and BC Partners' 10th flagship fund, which closed on €7 billion.
For more on the subject, check out our 2017 Annual PE & VC Fundraising Report.