LODH holds first close on fourth fund-of-funds

Fund

Lombard Odier Darier Hentsch Private Equity has held a first close on its fourth fund-of-funds Euro Choice IV and parallel vehicles at EUR300m. Further closings are expected for the fourth quarter of 2008. The final target is EUR600m.

The fund is set up as a Scottish partnership with other parallel vehicles, particularly tailored at French and German investors. The minimum subscription is EUR7.5m, with terms and conditions described as industry standard. Mallory Capital acts as placement agent in North America, while Debevoise & Plimpton provides legal advice.

Investors

The diversified investor base is drawn from Europe and the US 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 middle market and will invest in regionally and nationally anchored buyouts and growth capital as well as selectively investing in turnaround funds. The vehicle seeks to make some 20 investments across the EU 27 and a few other European countries while making co-investments when advantageous.

People

Christopher Bodtker leads the team of 22 professionals at the Zurich office who specialise on the European mid-market.

Name: Euro Choice IV

Target: EUR600m

Closed on: EUR300m

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 (US Placement Agent)

Debevoise & Plimpton (Legal).

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