Nixen looking to raise €200m for third fund

The investor's chair, Jean-Paul Bernardini, confirmed the fundraise in an interview with Mergermarket. The sponsor, which is already receiving investor contributions, hopes to announce an initial closing representing 70-80% of its target by year-end, he said.

Nixen closed its Nixen II fund on €164m in 2012. The vehicle was launched in 2010 with a €300m target – it reached a €100m first close in October that year. Faced with increasingly difficult fundraising conditions, Nixen eventually lowered its expectations to a more modest €150-160m target as the process went by, according to press reports at the time.

Once part of Natixis's private equity arm, Nixen span out in 2010. The management company was wholly acquired by the team, while Ardian (then Axa Private Equity) became the sole sponsor of the Nixen I fund.

The first fund is nearly fully realised, being only invested in Ludendo (in which the second fund also has a stake) at this stage.

Investments
Nixen focuses on majority stakes in companies valued between €50-150m, with average investments between €20-25m.

People
Nixen Partners – Jean-Paul Bernardini (chair).

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