Financo seeks to raise private equity fund for lower middle market companies

By VCPOST Staff Reporter

Nov 13, 2013 12:38 AM EST

Investment bank Financo announced its plan to raise USD75 million to USD100 million in a private equity fund next year. Financo Chief Executive Officer John Berg said the fund would be targeting lower middle market consumer and retail firms to place its bets on. This was according to a report published by PE Hub.

Financo is an investment bank which focuses on consumer and retail. The bank has headquarters in London and New York. The firm's list of clients include Forever21, Neiman Marcus, and Kellwood Company, the report said.

In a statement to PE Hub, the firm said it will not go through a placement agent for its future deals. The company also said it is aiming for co-investments and other deals in the lower middle market. Financo is planning to invest USD2 million to USD10 million in every deal, the report stated.

Berg said he would be expecting consumer M&A to continue going up at least for another year. He also said this would be a good time for companies to seek exits because of the low interests and easy attainment of debt, PE Hub reported.

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