InvestIndustrial’s Seventh Private Equity Fund Raises €3.75 billion
Industrial group-turned private equity firm InvestIndustrial overshot the target of €3 billion for its seventh fund.
InvestIndustrial, founded in 1990 out of an industrial group, is a leading European investment firm. It focuses on buyout opportunities amongst medium-sized Southern European companies that are leaders in their fields. Further, it aims for long-term value creation, actively investing across business cycles.
The firm has raised €11 billion capital to date. Investors include sovereign wealth funds (7%), banks/insurance/financials (38%), endowment/foundations (18%), pension funds (27%) and sponsor (10%) as on June 30, 2019.
InvestIndustrial’s Seventh PE Fund
The seventh fundraising has overshadowed the firm’s sixth fund, which raised over €2 billion in 2016. Clearly, the current raise attracted an enthusiastic response from investors judging from the oversubscription.
Investors in this offering included the Florida State Board of Administration, Tallahassee, which oversees a total of $205.8 billion; and the State of Wisconsin Investment Board, Madison, which oversees $122.2 billion in assets; and the $28.5 billion Texas Employees Retirement System, Austin.
The PE firm focusses on the Consumer and Leisure, Healthcare and Services, and Industrial Manufacturing sectors.
Meanwhile, its current portfolio includes Artsana, Aston Martin, Benvic, Ceme Group, Design Holding, Dispenia Emilia, Ginefiv, HTG, Italcanditi, and Jacuzzi Brands.
Earlier this year, InvestIndustrial made a significant investment in Morgan Motor Company, the manufacturer of iconic British sports cars.
Moreover, in September, Italian candied fruit and marron glacé producer Italcanditi, a portfolio company, acquired a 70% stake in Prodotti Rubicone. The latter is an Italian producer of semi-finished ingredients for Gelato.
[Related Story: Another Day, Another Massive Private Equity Buyout Fund ]
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