Langholm Capital Partners, a London-based private equity fund, has announced an impressive first closing of E225m in its new fund. The focus of the fund will be to invest in consumer-facing companies throughout Europe.
Investors in the fund included Unilever, who came in with E100m, and the specialist food and consumer goods bank, Rabobank International, who committed E75m. It is expected that the final close, which will be by mid-2003, will take the fund to E300 –325m.
Unilever sees a strategic importance for the company in investing in the fund – it will give Unilever access to deals that would normally fall below their deal size threshold. While for Rabobank, it fits the niche in food and consumer goods that the bank has been carving out for itself in recent years.
Founded in January 2002, Langholm is majority owned and managed by its three founding Partners, Bert Wiegman, Andrew Beaton, and Christian Lorenzen.Bert Wiegman was previously chief executive of EAC, an independent private equity fund, Andrew Beaton established the European private equity operations of GE Capital and Christian Lorenzen was, until recently, a director of Industri Kapital based in Hamburg.