Firm: LODH Private Equity AG, a subsidiary of Lombard Odier Darier Hentsch
Fund: Euro Choice IV
Target: €600 million ($925 million)
Amount Raised: €300 million at first close
Placement Agent: Mallory Capital Group LLC
Legal Advisors: Debevoise & Plimpton LLP (U.S.); Bedell Cristin (Jersey)
The funds chosen for the fund of funds are expected to be diversified by industry, geography, vintage and strategy. A first close was held on July 11 with €300 million ($460 million), and a final close is expected by year-end, according to Thomas Frei, managing director. The firm’s backers represent a cross section of European, Middle Eastern and North American institutions, such as family offices, public and private pension funds, endowments and foundations.
Some of the vehicles that LODH Private Equity has backed in the past as a limited partner include funds run by
Lombard Odier Darier Hentsch, founded in 1796, is an independent, family-owned private bank. The firm has more than $130 billion of assets worldwide, 2,000 employees, and 24 branches in 18 countries, with its headquarters in Geneva. The bank engages only in wealth management and asset management for high-net-worth and institutional clients. It’s not involved in investment banking, commercial banking or retail banking. Currently the bank has two senior partners: Thierry Lombard and Pierre Darier, who plan to hand over their roles to Patrick Odier in January 2009, when they will become managing partners.