LBO France closes eighth White Knight fund

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Fund

LBO France's fund White Knight VIII has held its final close on an undisclosed amount. It was launched with a EUR1.2bn target.

Investors

The fund welcomed back all the investors from its previous vehicle as well as a number of new ones. Of the investors, 55% were based in France, 20% from Europe, 5% from the US and a number from the Middle East. The GP is a significant investor in the fund.

Investments

The fund will seek to invest in companies at the high end of the mid-market, defined as companies with an enterprise value of between EUR100m-2.5bn. The fund will be used to purchase leveraged majority stakes in companies that are the number one or two players in their sector. The fund has already completed three investments and is 30% invested. The fund is focused essentially on investments in France; however, it also favours buy-and-build strategies abroad and at home for its portfolio companies.

People

The fund will be managed by LBO France's mid-market team of nine professionals.

Name: White Knight VIII

Target: EUR1.2bn

Focus: Buyout, Europe

Contact: Elizabeth O'Reilly

Address: 148 rue de l'Universite

75007 Paris

Tel: +33 1 40 62 76 06.