Siparex gears up for 2020 fund launch

Alexandre Rajbhandari (Mergermarket)
18 July 2019

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French mid-market buyout firm Siparex is preparing to launch Siparex ETI 5 in 2020 for a second half close.

The GP held a final close for Siparex ETI 4 on its €315m target in September 2017, a significant step up from its third fund, which closed on €200m in 2014.

Siparex will again increase its fund size to target €400-500m for ETI 5, Siparex president Bertrand Rambaud told Unquote. It aims to increase the portion of international LPs to one third of its capital base for the fifth vehicle.

The GP plans to manage the fundraise in house but may appoint agents for specific regions and "will consider approaches from interested advisers", said Rambaud.

Siparex invests in growing French companies with revenues in the €100-500m range.

The firm is also currently in the process of raising its Entrepreneurs 3 fund, with the aim of gathering €60m by next year from both private and institutional investors.

The new vehicle will invest in companies based in the Ile de France, Grand Ouest and North regions, valued at less than €20m. It will aim to source mainly primary deals.