Ciclad holds final close for sixth fund on €180m

Fundraising for the vehicle started in September 2017 and the initial target amounted to €140-160m, Unquote understands.

The final close saw the sixth fund surpass the size of Ciclad 5, which closed on its €150m hard-cap in 2011. 

Investors 
The LP base of the fund is made up largely of institutional investors but also includes family offices and high-net-worth individuals. A spokesperson for Ciclad confirmed that half of the LPs are from outside France.

Investments
Ciclad 6 remains mainly focused on medium-sized companies, with valuations not exceeding €50m. The GP will provide tickets from €4-15m, to build a portfolio of 20-25 companies.

To date the fund has invested in four companies - Ebénoïd, Bertin Ergonomie, Cinéchèque and Seat Ventilation.

People
Ciclad – Lionel Lambert (founding partner); Stéphane Billon (partner); Didier Genoud (investment director).

 

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