Xenon Private Equity VI closes on €184m

The GP stated that Xenon Private Equity VI, which launched towards the end of 2013, was substantially oversubscribed.

The vehicle's predecessor, Xenon Private Equity V, closed on €150m in September 2009, surpassing its €130m target.

Campbell Lutyens acted as sole global placement agent while King & Wood Mallesons SJ Berwin provided legal advice.

Investors
The fund attracted commitments from a mixture of new and existing investors. Approximately 30% of its backers are non-European LPs.

Investors include pension funds, sovereign wealth funds, funds-of-funds, foundations and endowments, as well as other institutional investors.

Investments
Xenon Private Equity VI will focus on lower mid-market companies in northern Italy with an average ticket size of between €8-15m.

The fund will primarily target manufacturing companies with the potential to undergo mergers and acquisitions. It will also look to invest in assets within the less capital-intensive services industry.

People
Danilo Mangano is chairman and CEO of Xenon.

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