Philippe Nguyen and Wilbur Ross have formed a joint venture and launched a $250m French private equity fund, which they have called IPE Expansion Fund. Nguyen founded Investors in Private Equity (IPE) in 2002 with four other partners and three associates after eight years as head of private equity activities, first at Caisse des Dépôts et consignations (CDC) and then at Credit Lyonnais.
WL Ross is based in New York and has sponsored over $2.5bn private investments in the US, Japan and Korea since its founding in 2000 by Wilbur Ross, former executive managing director of Rothschild.
Ross will be chairman of the investment committee of IPE Expansion Fund and Nguyen will be chief executive officer. Ross said: “We believe there is excellent potential for middle market medium term industrial development transactions in Europe, especially France. We are delighted to pool our intellectual resources with those of such a highly talented team.”