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Laxman Pai, Opalesque Asia:

European mid-cap investor Adagia Partners Adagia Partners has closed its maiden fund, Adagia Capital Europe SLP, on €1.1bn ($1.17bn).

According to a media release from the France-based private equity firm focused on healthcare, business services, and tech sectors, the Fund attracted close to forty blue-chip institutional investors, insurance companies, banks, sovereign funds, funds of funds, pension funds, and foundations coming from Europe, the Middle East, and the United States.

Prominent family offices and private individuals are also largely represented in the investor base, it added.

The €1.1bn investment program is structured as a series of parallel funds and is already 50% invested.

Close to €600m have been deployed in 3 market-leading platforms and 7 add-on acquisitions in the last 18 months: Schwind Eye Tech Solutions: A German global market-leading producer of refractive surgery lasers with an installed base of over 1,500 lasers across 100 countries. Minlay: The French leader in the manufacturing and distribution of dental prostheses with over 20 laboratories in France, Germany, and the Netherlands. Adhetec: The worldwide leader in advanced technical adhesive solutions, serving leading players in the transportation sector.

Campbell Lutyens acted as placement agent, whilst Willkie Farr & Gallagher LLP acted as legal counsel, the release said.

Adagia Partners has an industry specialist approach and focu......................

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