Siparex raises €90m for mid-market vehicle

Siparex is aiming to raise €150m for the vehicle. The GP launched MidMarket III in June, days after closing its MidCap II vehicle on €130m.

Siparex's MidMarket II fund has so far generated a 2.4x multiple and 20.4% IRR.

Investors
Siparex received commitments from its sponsor Siparex Associés, institutional investors (which contributed 75% of the amount raised at first close) and family offices.

Investors in Siparex's previous MidMarket II vehicle contributed to 80% of the capital attracted at first close. The remainder was provided by pension funds and regional banks.

Investments
Siparex MidMarket III will invest in both growth capital and buyout transactions, targeting French businesses valued at more than €40m. It will invest €2.5-15m per deal.

The fund will start making its first investments throughout Q4 2012.

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