Paris, France-based private equity firm Ardian raised €4 billion for its latest mid-cap fund, LBO Fund VI.
An additional €500m was raised for co-investment opportunities. Combined with Ardian Expansion Fund IV, which raised €1 billion in June, the private investment company now has a €5.5 billion platform for investing in small- to mid-cap companies.
Ardian Mid Cap Buyout, which has grown from 25 to 36 people (50% outside France) over the last three years, will invest Ardian LBO Fund VI in established European companies with an enterprise value of between €175m to €1.5bn.
85% of the fund will be invested in the core markets of France, Italy, Germany but also Benelux, Austria and Switzerland. In addition, following the expansion of the Ardian Mid Cap Buyout in the UK and Spain, the team will also look at opportunities in those markets.
Two investments have already been made through the new fund:
– Hypred, a European leader in the production and commercialization of professional hygiene solutions for the food and agriculture sectors based in France, and
– Dedalus, a global clinical health software provider based in Italy.