NBGI Private Equity (NBGI), a firm typically investing in small and medium-sized UK-based companies, has increased the size of its first fund dedicated to France to €100m.
The private equity firm, which manages two UK funds of £100m (€113m), has already invested from the vehicle, backing SPM–Boulangerie Thierry, a baker that delivers its goods to high-end hotels and restaurants in Paris.
Richard Morley, NBGI director, said, “We’ve closed on an increased size of fund. The French fund has been in place for over a year on €60m and that has now been extended to €100m.”
Laurent Allégot, of NBGI’s French team, added, “The size of our French fund now fits perfectly with our chosen segment of lower mid-market, which has remained very active in the midst of a general financial crisis. If we remain very selective and focus on the right opportunities during the next two to three years, we should be able to build a portfolio of quality assets that will benefit from a recovery in the economy.”
In November, the firm backed a £13m (€14.7m) management buy-in of Pasta King, a food manufacturer whose dishes are sold in UK secondary schools.
In total, NBGI manages €900m in funds for investment across Europe.
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