Stanhope Capital has launched a €100 million (£89 million) private equity fund to invest in European small and medium sized businesses.
The Stanhope Entrepreneurs fund is backed by five 'anchor investors', who are successful entrepreneurs in their fields and will help identify attractive investment opportunities.
The fund targets development capital and buyout deals, and aims to provide investors access to fast growing SMEs across Europe and the UK. It will have a focus on consumer, food, education and disruptive services sectors.
The five anchor investors are Bruno Moineville, founding partner of telecom company Altice; Pierre Cuilleret, co-founder of the Phone House which was sold to The Carphone Warehouse in 2000; Leon Seynave, co-founder of online private sales company Vente-Exclusive.com; Mark Moran, former CEO of Mater Private Hospital; and Daniel Pinto, chief executive officer at Stanhope Capital.
The fund will be managed by Stanhope's private equity team which will be responsible for sourcing transactions, managing the portfolio and investments alongside the anchor investors.
Pinto said: 'As part of our continued drive to provide a full range of wealth management services covering all the major asset classes, the Stanhope Entrepreneurs fund is a logical extension of Stanhope Capital’s offering.
'The in-house private equity team is led by Jerome Sibony and Michael Bressler, two highly successful professionals whose long-standing experience in private equity will be very complementary with the entrepreneurial pedigree of the anchor investors.'