Mirabaud’s first PE success

Lionel Aeschlimann Mirabaud Asset Management’s first private equity fund, which is aimed at funding firms in the luxury goods market, has raised over €150 million a year after launch.

The Swiss asset manager said the figure had exceeded its expectations and that the vehicle had been fully subscribed by international institutions and family offices.

Renaud Dutreil and Luc Alban Chermette manage the vehicle, which will invest in niche, family-run small and medium sized businesses across Europe in the field of luxury services and apparel. They said this sector of the market centres on manufacturing excellence and benefits from ongoing demand from international clients.

The team aims at sourcing about ten businesses in “culturally-rich” countries, such as France, Italy and Switzerland. The team mostly sources companies that are poised to reach and exceed turnover of €50 million a year.

Lionel Aeschlimann (pictured), chief executive of Mirabaud Asset Management, said the funds was a “unique private equity vehicle”.

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