Astorg Raises €1.4 Billion Continuation Fund to Support Portfolio Company Normec
07.10.24
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Simpson Thacher advised Astorg in connection with the announcement of the successful closing of the Normec Continuation Fund, capitalized by lead investors CVC Secondary Partners, Pantheon, Lexington Partners, and Eurazeo, alongside a diverse group of additional investors, including sovereign wealth funds, pension funds, asset managers, and family offices. The Continuation Fund was established to acquire Normec, a leading pan-European independent TICC player held in Astorg VII (“Fund VII”). The transaction was oversubscribed and includes commitments from both existing Fund VII and new investors alongside significant equity contributions from the Normec leadership team and the Astorg deal team. The Continuation Fund raised €1.4bn, including substantial additional capital to further support Normec’s organic growth initiatives and acquisitions.
Astorg is a leading pan-European private equity firm with over €22 billion of assets under management. Astorg works with entrepreneurs and management teams to acquire market leading global companies headquartered in Europe or the US, providing them with the strategic guidance, governance, and capital they need to achieve their growth goals.
The Simpson Thacher team included Edward Ford, Daniel Lloyd and Sacha Gofton-Salmond (Funds).