UNQUOTE

Investindustrial launches smaller fund, eyes €375m target

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Investindustrial has launched a lower-mid-market fund with a €375m target, which will be managed by senior principal Roberto Ardagna and is expected to hold a final close in July 2018, according to a source close to the situation.

The Investindustrial Growth fund is considerably smaller than Investindustrial VI, which held a final close on its €2bn hard-cap in February 2016, and will focus on smaller-scale deals.

Investors
Investindustrial will commit 15% of the fund's total capital, a source told Unquote. Among the vehicle's LPs are several funds-of-funds including Adams Street Partners, Landmark and Schroders, alongside UBS, Swiss pension fund Caisse de Prevoyance de l'Etat de Geneve and Austrian energy drinks producer Red Bull, according to publicly available documents.

Investments
The fund will invest equity tickets between €10-50m in European companies operating in the furniture, luxury and industrial sectors. It has already made an investment in British interior design company Oka, founded by Annabel Astor, former UK prime minister David Cameron's mother-in-law, according to a source familiar with the situation.

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