GBL invests 350 mln euros in two new funds
BRUSSELS Oct 9 (Reuters) - Belgian holding company GBL said late on Tuesday that it had invested 350 million euros ($475.9 million) in two funds as part of its diversification away from large French companies.
The company said in a statement it had invested 200 million euros in Sagard III, a fund of French group Sagard to support the growth and development of medium-sized companies in French-speaking parts of Europe.
GBL had also contributed 150 million euros to a new credit fund called Kartesia Credit Opportunities I, which will invest in leveraged buyout loans in Europe.
GBL, controlled by Belgium's richest man Albert Frere, has traditionally had a focus on French high-yielding stocks, including Total, GDF Suez, cement maker Lafarge and drinks group Pernod Ricard.
Earlier this year, it bought a 15 percent stake in Swiss inspection company SGS from Exor, carmaker Fiat's parent company, for 1.5 billion euros.