NIBC and Avedon Capital Partners to launch new private equity fund

NIBC launched the NIBC Growth Capital Fund II, a new private equity fund. NIBC, Goldman Sachs Asset Management and the European Investment Fund are founding investors in the fund, which will be managed by Avedon Capital Partners ('Avedon'). The fund now has realized a first close at EUR 100 million and a final close of the fund is expected in the first half of 2012 at around EUR 200 million.

Avedon incorporates the activities and the team of NIBC Capital Partners and is fully independent from NIBC. This set-up is in line with market requirements for governance of third-party funds and facilitates Avedon to attract additional investors and make new investments. Avedon provides growth capital to mid market companies with an enterprise value ranging between EUR 30 - 300 million in the Benelux and Germany with a strong leadership, proven business models and records of revenue and earnings growth.

Avedon will continue to manage the existing funds (NIBC Merchant Banking Funds IA and IB), which contain NIBC's largest exposure to private equity and mezzanine facilities. Other investors in NIBC Merchant Banking Fund IB are Doctors Pension Fund (SPH) and Goldman Sachs Asset Management.