Danske Private Equity, the private equity arm of Danske Bank, has raced to a €349m ($304m) first close of its latest fund of funds, taking it well over half-way to its €600m target in just four months.

The speed and apparent ease with which Danske has raised money from investors is a sign of the times. European institutions are looking to increase their investment in private equity, just as worries about sustainability of private equity returns have started to creep in.