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Home > PE News > By Region > Europe > Western Europe > Luxembourg

BluO holds first closing on debut restructuring fund on €300m BluO holds first closing on debut restructuring fund on €300m

03 Nov 2008. Source: AltAssets.
Luxembourg-based restructuring fund BluO has held a first closing on €300m. The fund has a further €300m confirmed for spring 2009, according to a statement.

Investors include family offices and institutional investors.

Dr Peter Löw, co-founder, BluO, said, 'A crisis requires specialists. We invest in companies with a deficit and bring them back into the profit zone. The current situation offers a lot of opportunities.

'In this environment there are currently over 100 companies we will look at closely. We expect two to six takeovers through BluO this year,' he added.

The fund plans to take over companies in duress with a turnover of up to €4bn with a focus of €200m.

BluO invests in medium and large companies in the German-speaking area, as well as the rest of Europe. The fund was founded by Dr Peter Löw, Dr Martin Vorderwülbecke and Markus Zöllner.

Copyright © 2008 AltAssets

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