Leman Capital looks to invest in Southern Europe

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BVP Europe II, the second buyout fund advised by Leman Capital, has held a first closing on Â¢150m. BVP Europe II, which has a target of Â¢400-500m, will operate a buy-and-build strategy and take majority stakes in family-owned businesses in Germany, France, Austria and Switzerland. Leman Capital will focus on companies in the automotive, aerospace and technology components, speciality chemicals, home and office supplies, fashion and watch components industries. The current backers of BVP Europe II are prominent US and Canada-based institutional investors, all of which were limited partners of Leman Capitalâ€™s debut fund, BVP Europe. Leman Capital intends to mandate a fundraiser to solicit further funds from new investors. Leman Capital will seek to invest at least 60% of the fund in Germany, France, Austria and Switzerland and may make up to 40% of its commitments in Italy, Spain and the Benelux region. The fund is mainly aimed at family businesses with a turnover of EUR 30-300m. Leman Capital will take majority stakes as lead investor only, but may consider co-investing alongside local players with relevant expertise. BVP Europe II LP is advised by TBA.