“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,” said Judith Charpentier and Lorenzo Zamboni, co-heads of Astorg’s flagship fund. Pictured is Zamboni speaking at an event organised by Astorg and the Luxembourg Association of Family Offices in Luxembourg in April 2023. Photo: Olivier Minaire Photography

“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,” said Judith Charpentier and Lorenzo Zamboni, co-heads of Astorg’s flagship fund. Pictured is Zamboni speaking at an event organised by Astorg and the Luxembourg Association of Family Offices in Luxembourg in April 2023. Photo: Olivier Minaire Photography

Private equity firm Astorg announced on 27 July that an interim closing of its flagship fund, Astorg VIII, had brought total fund commitments to €4bn.

Astorg VIII is a fund that targets companies in the domains of healthcare, technology, business services and industrials. It’s classified as an article 8 fund, or a “light green” fund that promotes environmental and/or social characteristics. The €4bn in fund commitments represents approximately 90% of Astorg VIII’s target size and hard cap of €4.5bn, said the company’s press release.

“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,” said Judith Charpentier and Lorenzo Zamboni, co-heads of Astorg’s flagship fund. “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.”

Astorg VIII’s four investments include Corden Pharma (which focuses on the development and manufacturing of active pharmaceutical ingredients and drug products), Open Health (which provides medical communications and market access services), IPCOM (which develops technical and building insulation products) and FastMarkets (a price reporting agency that has positions in metals, mining and forestry).

Established in 1998, private equity firm Astorg has more than €21bn of assets under management and offices in New York and throughout Europe, including in Luxembourg. Astorg Asset Management is a fund management company regulated by Luxembourg’s financial sector supervisory commission, the CSSF.

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