The European private equity fund manager Astorg closed its first dedicated mid-cap fund at its hard cap of $1.48bn. Due to strong investor demand, the fund has exceeded its initial target of €1bn to hit its hard cap.
According to a press release from the PE firm with €15 billion of assets under management, Astorg mid-cap was launched under the leadership of Managing Partners Lionel de Posson and Edouard Pillot to address the European middle-market for buyouts, which has been Astorg’s core expertise since the firm’s foundation in 1998.
The fund has made two investments since its formation thereby investing 20% of the fund. First, in Opus 2 (UK), a leading provider of integrated legal tech software and services for the global litigation and arbitration markets. More recently in Armor-IIMAK (France), the global leader in industrial thermal printing ribbons, alongside the company’s management team. Both deals generated co-investment opportunities for the fund LPs, consistent with Astorg’s approach.
Read more: Opalesque
