Siparex raises €315m for fourth mid-market fund

The fund is a significant step up from the GP's previous effort, Midmarket III, which closed on €200m in early 2014, exceeding its €150m target. The GP launched the vehicle in June 2012, days after closing its MidCap II vehicle on €130m. While MidCap II targeted businesses valued at less than €40m, the MidMarket III and ETI 4 funds invest in buyouts valued in excess of this threshold.

Siparex, which has considerably diversified its strategy in recent years, now manages €1.7bn in total, across its mid-market, small-cap, mezzanine and growth activities.

Investors
Like its predecessor, ETI 4 saw investors in previous Siparex funds contribute three quarters of the commitments. According to the GP, these returning LPs doubled their commitments on average.

The new investors that committed the remaining 25% of the fund are predominantly funds-of-funds.

Investments
ETI 4 will target growing French companies with revenues between €100-500m. It will invest tickets of up to €30m, with the possibility of taking part in equity investments of up to €50m when co-investing.

Siparex is aiming to build a portfolio of around 15 businesses. It has already completed two deals with Carso and Minafin, and recently entered exclusivity towards a third transaction (Apside).

People
Siparex – Florent Lauzet (managing partner).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Funds
• Buyout
• France
• Mid-market buyout
• Siparex