BELGIUM - Gimv holds second close on EUR 560m

Gimv-XL has a maximum life span of 14 years from the first closing. New commitments come from Dexia Bank, ING Belgium and Ethias. Gimv previously contributed EUR 250m as initiator and sponsor, while VPM, Gimv's main shareholder, invested the remaining EUR 250m as co-sponsor.

Gimv-XL focuses on growth companies with an enterprise value between EUR 75- 750m, which have the potential to grow from the Flemish into the international market.

The fund has made its first two investments, Electrawinds and Vandemoortele Group, totalling EUR 100m. The fund is looking to invest in 10 to 15 companies in various sectors in between 2009 and 2013. The investment per company will be up to €100m, in the form of both equity and hybrid equity.

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• Topics
• Buyout
• Benelux