UI Gestion closes Cap 6 on €105m
UI Gestion has held a €105m final close for its mid-market vehicle Cap 6, surpassing its €100m target.
The fund held a first close on €24m in October 2017 in order to ink its first investment. Cap 6 is larger than its predecessor, M.I5, closed on €93.5m in 2011.
UI Gestion span out from Groupe Crédit Agricole in 2004 and has pursued an investment strategy focused on agro-businesses and healthcare since 2012. Today the French PE house has €650m under management.
Investors
Historical investors, including Ardian and BPI France, have re-committed to the vehicle.
French institutional investors, including Aviva, MACSF and Crédit Agricole Indosuez, as well as France-based high-net-worth individuals and family offices, have backed the fund for the first time, a person familiar with the situation told Unquote.
Jasmin Capital advised UI Gestion as a placement agent for smaller institutional investors, Unquote understands.
Investments
The fund backs businesses related to healthcare and agriculture with enterprise values in the €15-75m range, providing tickets between €3-10m, the sweet spot being €5-10m. Cap 6 has already made three investments and is aiming at 10 to 12 portfolio companies in total.
People
UI Gestion - Aurélien Lequertier (investor relations).
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