Mandarin Capital announces first close

Mandarin Capital Partners II has a €500m target. 

The GP simultaneously announced the sale of its 7% stake in pharmaceutical business IMA Group for €53m, reaping a 2.2x multiple and an IRR of 27% on its original investment.

Lancea and Wedge have been hired as placement agents in London.

unquote" spoke to Mandarin Capital Partners' founding partner Alberto Forchielli earlier this year about the latest fund. 

Investors
Of the 25 LPs in the firm's first fund, 12 re-upped into Fund II, including Banca Intesa Sanpaolo, a number of banking foundations, pension funds, family offices and entrepreneurs.

German entrepreneur Roland Berger is a new investor in the vehicle, and joins the fund's advisory committee as co-chairman.

Investments
Mid-cap high-tech industrial companies will be the focus of the fund. The GP will follow the same strategy as it did for Fund I, but this time will expand its remit to include Germany. Mandarin opened a Frankfurt office earlier this year. 

People
Alberto Forchielli is a founding partner of Mandarin Capital Partners. Markus Solibieda is head of the firm's Germany office.

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