Xenon, an Italian mid-market private equity firm, closed its sixth fund at €184m.
LPs include pension funds, sovereign funds, funds of funds, foundations and endowments.
Xenon Private Equity VI will focus on making equity investments in lower mid-market companies based in the industrial region of Northern Italy which operate within manufacturing and non-capital intensive service industries.
It will target companies which have the potential for strategic and structural change, predominantly through the immediate combination with a complementary business.
Led by Danilo Mangano, Chairman and CEO, Xenon Private Equity Limited has completed 46 investments and 45 add-on acquisitions in the Italian lower mid-market since 1990.