Ardian secures €500m for new small-cap fund


euro8_170sqFrench private equity firm Ardian has closed its latest small-cap fund on €500m.

Expansion Fund III has secured commitments of €450m and has a further €50m available for co-investments, said the firm.

The fund will invest in companies with an enterprise value of up to €150m. Its current portfolio companies include environmental data business CLS Group, pharmaceutical company Synerlab, smart card testing company Micropross and frozen food company Frostkrone.

Last October Ardian raised a €2.4bn fund and secured co-investment commitments of €400m.

Ardian currently has €38bn in advised and managed assets and investments in more than 800 funds and 165 businesses.

Copyright © 2014 AltAssets