Ferocq and Franc leave L&G Ventures to launch new EUR 200m fund

Reports in the European press have announced that Hervé Franc and Christophe Ferocq are to leave the Paris office of Legal & General Ventures to launch a new EUR 200m mid-market vehicle. The new fund management firm run by the two investment professionals is named Cobalt Capital. While the new entity focuses on fundraising, it will concurrently manage Legal & General Ventures’ existing portfolio of investments. Cobalt Capital is expected to focus on deals in the EUR 30m to EUR 200m bracket, a slightly lower investment range than that of the insurance group’s buyout arm.

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