Motion resumes fundraise with revised target

The vehicle now has a target of €250m and expects to hold a first close on €125m towards the end of Q1 or the beginning of Q2 2018.

The GP had previously launched the vehicle in August 2016 with a target of €300m to invest in French and Italian companies.

However, it has now changed course and will focus purely on France. The firm has closed down its Italian operations and resumed fundraising with the lower target.

The Luxembourg-registered vehicle is understood to have already secured a number of LP commitments.

Motion switched its focus to deploying capital in 2017 and its previous two investments will be transferred to the fund following the first close. The deals were the acquisition of dental prosthetic device manufacturer BFCC in June 2017 and the purchase of Laboratoire Equilibre Attitude from Naxicap Partners and Omnes Capital in November.

The GP was created in its current form in 2012 as a rebranding and restructuring of Cognetas, which suffered setbacks in the financial crisis and relinquished control of several portfolio companies.

Motion advises funds of €1bn and targets control investments in European companies with EV of up to €300m. Equity tickets range from €20-80m, with a focus on the business services, healthcare, food and beverage, media, retail and leisure sectors, according to its website.

Motion declined to comment on the situation.

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• Topics
• Funds
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• Motion Equity Partners
• France