Acanthus Advisers are delighted to announce that, despite the turbulent and challenging fundraising environment, Finatem III held a first close in December 2009 at €120 million, against a target of €150 million.This was our third fund closing in 2009 in the European mid-market. Strong interest came from existing and well regarded new institutional investors, with 60% of the fund being subscribed from international investors at first close.