French-based iXO Private Equity has closed its third fund at a hard cap of 150 million euros, beating its initial target of 120 million euros. The limited partners for iXO 3 include fund-of-funds, insurance companies, pension funds, banks and family offices. The pool focuses on companies in niche markets that have high growth potential and/or exposure to international markets across sectors. So far, it has invested in five companies that include men’s clothing company Olly Gan and Groupe Poult, a sweet biscuits maker.
iXO Private Equity, a leading independent investor in the South of France, closed its new fund iXO 3 at its hard cap (€ 150 million), i.e. € 30 million above its initial target. All historical LPs, who have already received distributions of 78% of their drawdowns for iXO 2 (raised in 2008), and distributions of 151% for iXO 1 (raised in 2003), have committed to the fund. iXO 3 has also attracted many new European investors such as fund-of-funds, insurance companies, pension funds, banks and local entities, as well as individuals and family offices.
Already five investments in portfolio
iXO 3 primarily targets companies that benefit from strong leadership positions in niche markets with high growth potential and/or with significant exposure to international markets across sectors. The fund invests to support the growth stages, external acquisitions or transmissions of those companies.
Since inception, iXO 3 has already invested in five companies for a total of € 35 million i.e. over 20% of the fund. iXO 3 has invested in diversified sectors such as men’s clothing (Olly Gan), sweet biscuits (Groupe Poult), animal health (Ceva Santé Animale), mineral water (Mont de Lacaune), or more recently discount household electronics distribution (MDA).
About iXO Private Equity
iXO Private Equity is a management company that invests primarily in LBOs and Growth Capital transactions. The 15-strong team is ran by 10 investment professionals with complementary experience.
In France, iXO Private Equity is the largest independent private equity firm based outside Paris. iXO
Private Equity manages more than € 500 million of assets and invests with iXO 3 from € 3.5 to 15 million in SMEs based in the South of France (South-East and South-West). www.ixope.fr