LODH Euro Choice IV holds CHF 776m final close

Fund

Lombard Odier Darier Hentsch Private Equity has held the final close of its fund-of-funds Euro Choice IV on CHF 776m (EUR512.6m). It achieved its first close on EUR300m in July 2008 and had an original target of EUR600m. (Deutsche unquote" August/September 2008).

The fund-of-funds was set up as a Scottish partnership. The minimum subscription was EUR7.5m, with terms and conditions described as industry standard. Mallory Capital acted as the placement agent in North America, while Debevoise & Plimpton provided legal advice.

Investors

The diversified investor base is split equally between Europe and North America and comprises institutional investors, mainly corporate and public pension funds, family offices, endowments and financial institutions.

Investments

The fund is focused on the lower end of the European mid-market and invests in regionally and nationally anchored buyout, growth capital and selective turnaround funds. The fund seeks to make around 20 fund investments across the 27 EU member states and select other European countries while selectively adding co-investments.

To date, the fund has committed to seven investments in the 2008 and 2009 vintages with a further two in the final stages of due diligence. The remaining portfolio will be built over the next 36 months.

People

Christopher Bodtker leads the team of 26 professionals based in the Zurich office that specialise in the European mid-market.

Name: Euro Choice IV

Closed on: CHF 776m, June 09

Focus: European lower mid-market

Contact: Thomas Frei

Address: LODH Private Equity AG

Sihlstrasse 20

PO Box 2776

8021 Zurich

Switzerland

Tel: +41 44 214 13 42

Advisers: Mallory Capital (Placement agent - North America)

Debevoise & Plimpton (Legal).

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