French investment fund Armen is about to take a 20 per cent minority stake in Vendis Capital, a Belgian investment company specialising in the consumer sector. De Tijd reports.
© X2O
Armen, which focuses on stakes in investment fund managers, is further expanding its portfolio with this move. Earlier, the fund invested in Jolt Capital (technology), RGreen (sustainable infrastructure) and UK funds, among others.
Vendis Capital, founded more than 15 years ago, now manages its fourth fund, worth EUR 525 million. The investor operates in several European countries, including Belgium, the Netherlands and France. The fund built a reputation as a "brand investor", with a focus on consumer-oriented companies.
One of Vendis' best-known Belgian holdings is bathroom specialist X2O, of which it is a co-shareholder. X2O has become a prominent player in the sanitary ware market in recent years. Armen's potential entry therefore indirectly strengthens the capital structure of companies like X2O.
Source: De Tijd
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