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Winch Capital 2 fund reaches EUR250m target

Edmond de Rothschild Investment Partners has completed the final closing of its Winch Capital 2 development capital fund for EUR250m.

This follows a first closing on 30 June 2009 for EUR175m.
The firm managed to raise EUR250m in less than eight months.
Pierre-Michel Passy (pictured), chairman of Edmond de Rothschild Investment Partners, says: “We were targeting a second closing around EUR200m. In only four months we went above the hard cap of EUR250m. The new institutional investors were won over not only by the team and the relevance of its approach but also by the economic interest of capital development at a critical juncture when French SMEs need to strengthen their capital bases and finance their growth.”
For the final closing, the team attracted new, mainly French investors and predominantly funds of private equity funds. They included Fondinvest, AGF Private Equity, SGAM Private Equity and Dahlia. Major investors such as Prédica and Crédit Mutuel Arkéa also subscribed to the closing.

Given the strong demand, the LCF Rothschild Group did not increase its exposure which now represents less than ten per cent of the fund.
Winch Capital 2, like its predecessor, seeks to partner entrepreneurs with a significant shareholding in their company in implementing their growth projects. The fund targets profitable companies with strong positions on their respective markets and sales of between EUR20m and EUR250m. The fund will invest EUR5m to EUR15m in its stakes through capital increases or owner buy-outs.

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