Astorg VIII Reaches €4 Billion At Interim Closing

“This interim closing further illustrates the appeal of Astorg’s investment strategy to major international investors, despite challenging fundraising market conditions, and brings additional diversification of Astorg’s investor base across categories and geographies. We also see the early success of Astorg’s enhanced focus on family offices and high net worth individuals worldwide”, commented Jean Raby, Head of Business Development, Astorg

Astorg VIII is an Article 8 Pan-European fund targeting B2B global niche leaders in defined subsegments of its four targeted verticals: healthcare, technology, business services and industrials. Since the beginning of the investment period, Astorg VIII has made four investments, representing total invested capital from the fund of €1.8 billion or over 40% of its target commitments of €4.5 billion. Three of these investments have generated significant co-investment opportunities for the fund LPs, consistent with Astorg’s approach: total capital deployed from the fund and Astorg’s LPs, including 1.8bn euros of co-investments, now reaches €3.6 billion.

These investments include: Corden Pharma, a leading pharma CDMO focused on fast-growing complex niche drug modalities with end-to-end capabilities from early stage development to commercial large-scale manufacturing; Open Health, a leading global provider of medical communications and market access services to the pharmaceutical industry; IPCOM, a pan-European leading B2B specialty distributor of technical and building insulation products; and FastMarkets, a Price Reporting Agency (PRA) with market leading positions in metals and mining as well as forestry products.

Judith Charpentier and Lorenzo Zamboni, Co-Heads of Astorg’s flagship fund, commented: “This further interim closing highlights the recognition by investors of the relevance of our investment strategy in what is seen as a more adverse macro-economic environment. It also speaks to the outstanding resilience of our performance through cycles. Our four investments are performing at or above plan and we see meaningful potential upside from the value creation plans we are implementing with the relevant management teams. We continue to see significant opportunities across our target segments, and are fully committed to delivering outstanding returns for our growing LP base.”