PRINT THIS PAGE Siparex closes second mid-market fund on €150m14/04/2008. Source: AltAssets. 
Sigefi, the management company of the Siparex Group, has closed a new fund, the €150m Siparex Middle Market II. The firm will make growth capital/LBO investments in larger SMEs (with valuations up to €150m) from it new fund. Commitments came from institutional investors (87.5 per cent, €131.4m) and individuals (12.5 per cent, €18.6m). Among the institutional investors are four funds of funds (accounting for 21.7 per cent of the fund), including two members of France Investissement and two Canadian investors (accounting for 12.7 per cent).
Dominique Nouvellet, chairman of Sigefi, said, 'In the space of two years, the management team has raised more than €300m in this business sector, reflecting its vitality and the trust investors place in Siparex. Not only has this fund been well received by the Group's "historic" investors, which accounted for 68 per cent of subscriptions, but we have successfully renewed our investor base, as new subscribers provided 32 per cent of capital commitments.'
Siparex Middle Market II targets growth capital and LBO investments in SMEs with values of up to €150m, investing between €5m and €15m.
To date, the fund has made four investments, totalling €25.7m or 17 per cent of capital commitments. These include construction business Bernadet, temporary employment firm Adequat and kitchen and bathroom cabinet manufacturer Rema You Développement.
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