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AltAssets is the private equity news and research service from Almeida Capital
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PRINT THIS PAGE French firm Vermeer Capital holds 75m first closing on turnaround fund28/04/2008. Source: AltAssets. 
Paris-based firm Vermeer Capital has completed a 75m first closing on its maiden turnaround fund, called Vermeer Capital. The fund was launched seven months ago. It is expected to close on 90m within the next three months. Investors comprise institutional investors such as funds of funds (55 per cent), high net-worth entrepreneurs (35 per cent) and the management team (ten per cent).
Vermeer invests in turnaround situations in the smaller and mid market in France. The firm will always take majority stakes, typically in businesses with sales of between 30m and 150m.
Jean-Louis Detry is Vermeer's president and founder. He previously led several successful turnarounds, including French record company Disques Vogue and French restaurant chain Lιon de Bruxelles.
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