Oaktree Alums Get €400 Million of Commitments for Debut PE Fund
(Bloomberg) — Sienna Private Equity, co-founded by former Oaktree Capital managing directors, has secured more than €400 million ($442 million) of investor commitments as it raises its debut fund.
The fund completed a second closing during the summer with institutional investors and family offices, adding over €125 million of new commitments to Sienna Private Equity Fund I, according to a statement seen by Bloomberg News. Together with the first closing in January and anchor capital provided by Groupe Bruxelles Lambert NV and other co-investments, the total commitments grew to more than €400 million.
Sienna Private Equity was founded by co-managing partners Vincent Catherine and Hugo d’Avout, who left Oaktree Capital in June 2022. Catherine, d’Avout and Bastien Roleau, who was at Oaktree as well, are leading the private equity initiative. The mid-market firm, operating from offices in Paris and Milan, looks at opportunities across Europe with a primary focus on France and Italy.
Sienna Private Equity Fund I is close to its target fund size and will aim to hold its final closing between the last quarter of 2024 and first quarter of 2025,it said in the statement. The fund has started with two portfolio companies — Eight Advisory and ECT Group — and it’s in exclusive discussions about further transactions that could come before year-end.
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