Astorg closes fourth fund on EUR800.5m

01 June 2008

Tweet
Facebook
LinkedIn
Google plus
Send to

Fund

Astorg Partners has closed its fourth fund, Astorg IV, on EUR800.5m. The fund will focus on mid-cap LBOs. Astorg IV follows Astorg III which closed on EUR300m in 2005 (April 2005, Page 3). SJ Berwin provided legal advice.

Investors

Institutional investors contributed 56% while funds-of-funds contributed 32% and family offices 11%. Geographically a majority of 76% of the allocated funds originated from European investors. 18% of these came from France, while a further 23% came from the US and 1% from Asian investors. Existing investors provided around 60% of the new fund's subscriptions.

Investments

The new fund will focus on French mid-cap LBO deals with values of between EUR100-700m. As with its previous fund, Astorg will seek to operate their buy-and-build strategy. Astorg IV is already 25% invested since it completed three investments in SCT Telecom, funeral Service Company OGF and the drug manufacturer Ethypharma in 2007.

People

The co-founders of Astorg Partners, Xavier Moreno, Joel Lacourte, Gilles Sicard and Thierry Timsit will oversee the management of the fund. Nathalie Duguay and Marie Save de Beaurecueil of SJ Berwin provided legal advice.

Name: Astorg IV

Closed on: EUR800.5m

Focus: Buyouts

Contact: Xavier Moreno

Address: 68 rue du Faubourg Saint-Honore

75008

Paris

Tel 0033 1 53 05 40 30

Advisers: SJ Berwin (Legal).