CGS III holds first closing on CHF 55m

The first closing has been held as a result of the imminent signing of its first transaction.

Additional subscriptions totalling CHF 33m are available for the fund's next closing, bringing total commitments so far to CHF 88m. The fund has a target of CHF 180m.

The fund's predecessor, CGS Private Equity Partnership II, held a final close in August 2007 on CHF 125m and has pursued a buy-and-build strategy for small and mid-sized industrial companies.

Investors
The group of first closing contributors consists of investors to the previous fund alongside new backers. Institutional and private investors both contributed to the fund.

Investments
The vehicle will focus on buyouts of European, technology-based small and mid-size industrial companies. Platform investments usually take place in the German-speaking region.

People
Ashley Le Feuvre is director of Volaw Trust & Corporate Services Limited, the fiduciary service administering the fund. Peter Gloor, Rolf Lanz, Peter Giesinger and Christoph Haller are managing partners at CGS Management.

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• Topics
• DACH
• UK / Ireland
• Buyout
• CGS Management