LBO France to raise third small-cap fund

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Fund

LBO France is launching its third small-cap fund, Hexagone III, with a target of EUR180m. The vehicle will take over from Hexagone II, which closed on EUR150 in 2006 and is currently more than 75% invested. The new fund will have a rolling close in order to take advantage of current investment opportunities. LBO recently completed the sale of Compin, which it purchased in 2005 via Hexagone I, to Barclays Private Equity, generating 4x its money. The firm is also set to launch its first credit fund, Altercap 1, with a target of EUR150m.

Investors

Hexagone III is focused on the small-cap market in the hope that investors will be attracted to the sector's higher achievable returns. Most participants of the previous fund re-invested. CDC Entreprises, CNP and AGF are said to be among the institutional investors. Family offices and private individuals also committed.

Investments

Investment targets will be French companies with enterprise value ranging from EUR10-100m, with a strong management team.

People

Pascal Vermeersch and Pierre Vallix will head up the fund investment team.

Name: Hexagone III

Target: EUR180m

Focus: Small-cap buyout, Europe

Contact: Elizabeth O'Reilly

Address

148 rue de l'Universite

75007 Paris

France