Avedon holds final close on €190m

The vehicle's original target was €200m. Avedon held a first close on €100m in September 2011. The GP initially expected to reach its final close within the first six months of 2012.

Avedon is a spin-off of NIBC Bank and was formerly known as NIBC Capital Partners. It separated from NIBC in September 2011. Avedon has offices in The Hague, Netherlands, and Düsseldorf, Germany, and is led by nine investment professionals, including five partners who worked together since 2004.

In 2007, when operating as NIBC Capital Partners, Avedon raised €300m for its NIBC Growth Capital Fund, which is now fully invested. Five of its portfolio companies have since been divested.

Avedon currently holds 14 companies in its portfolio. The most recent investment was a capital injection in July this year in Dutch firm 2theloo, a provider of public toilets and hygiene-related products.

Investors
Limited partners in the fund included Adveq, Access Capital Partners, Goldman Sachs and Macquarie Group. Avedon also received backing from its former parent NIBC and the European Investment Fund.

Investment
Avedon will invest €10-30m in small and mid-market companies in the Benelux region and Germany. The target businesses will have an enterprise value in the €30-300m range.

The firm focuses on growth capital, taking majority or significant minority stakes in portfolio companies.

People
Arjo Stammes is a partner at Avedon. Rikkert Beerekamp is Avedon's CFO. Alexis Weege and Hannes Hinteregger are respectively investment manager and partner in Avedon's Düsseldorf office.

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• Topics
• Benelux
• Buyout
• Netherlands
• Germany
• NIBC Capital Partners