Astorg to raise €1bn buyout fund

The Paris-based private equity firm has invested more than two thirds of its latest vehicle, Astorg IV, which raised €800m in 2007.

Most recently the group has been especially active in the exit markets.  The firm generated a 10X return on its investment in Geoservices when it sold the contractor to Schlumberger for $1.07bn in March. 

Earlier in the same month, the investor sold its 16% stake in medical equipment manufacturer Sebia to Cinven, a deal that also saw Montagu (50.1%), and Intermediate Capital Group (ICG, 13%) sells their stakes in the business in a €800m transaction.

Astorg expects to at least triple investors' money in Astorg III, the €300m pool it raised in 2004.

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