Euromezzanine 4 has reached a final close at €427m, exceeding its original target of €400m set at its launch in May 2002. The fund’s main sponsors are BNP Paribas and Natexis Banques Populaires, also the main sponsors of Euromezzanine 3, which is now fully invested.
The new fund has already made 6 mezzanine investments in 2003, the most recent being the €50m mezzanine arranged for Industri Kapital’s buyout of Ceva.
The fund will focus mainly on LBOs, internal and external growth transactions, capital reallocation, bridge financing and balance sheet restructuring. Average investment size will be between €5m and €80m in companies with an enterprise value of between €50m and €500m.
Since its inception 13 years ago, Euromezzanine has completed 87 mezzanine investments and 57 realisations.