UPDATE 1-French Sovereign Fund takes 5 pct of Nexans

(Adds details)

PARIS, July 9 (Reuters) - France's Sovereign Fund has acquired 5 percent of world cable industry leader Nexans (NEXS.PA), addressing the company's search for a new stable long-term investor.

Nexans had said in recent months it was looking for a new strategic shareholder that would acquire a 10-15 percent stake, but the French Sovereign Fund did not say on Thursday whether it planned to increase its holding further.

The fund said it had built up its position by acquiring shares in the market.

"The FSI (Fonds Strategique d'Investissement or French Sovereign Fund) intends to support Nexans' development and acquisitions policy focused on high growth markets," the fund said in a statement.

Nexans, which was spun out of Alcatel in 2001, has said it wanted to reduce its exposure to economic cycles and planned to focus on the energy and infrastructure sectors.

(Reporting by Astrid Wendlandt; editing by Simon Jessop)