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Brexit vote helps private equity giant raise €4.5bn for mid-cap fund targeting continental Europe

William Turvill
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EU Referendum - Signage And Symbols
The UK voted to leave the European Union on 23 June (Source: Getty)

Private equity giant Ardian has announced the launch of a new fund worth €4.5bn (£3.8bn), with fundraising thought to have been boosted by Brexit.

Paris-based Ardian’s LBO VI is the biggest European mid-cap fund of 2016 and was raised in four months.

Read more: UK private equity firm's shares leap after £1bn US takeover offer

Ardian believes the fundraising was helped by investors wanting to target continental Europe after the EU referendum.

The fund has already made two investments, in France-based food hygiene company Hypred and Italian clinical health software provider Dedalus.

It will be targeting companies valued at between €175m to €1.5bn, with 85 per cent of investments expected to be in France, Italy, Germany, Benelux, Austria and Switzerland. The team will also look for opportunities in the UK and Spain.

Read more: London-based private equity firm announces sale to Ardian

Philippe Poletti, head of Ardian Mid Cap Buyout, said:

This fundraising success demonstrates the value our investors have seen in our approach of using transformational strategies to help ambitious companies accelerate their international growth.

Together with our multi-local network, this gives us a unique proposition with both potential investee companies, as well with our investors across the globe who are able to access different European markets through a single partner.

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