BRUSSELS Oct 9 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.
It also took a 4 percent stake in Belgian specialist
materials group Umicore.
($1 = 0.7355 euros)
(Reporting By Philip Blenkinsop; editing by Robin Emmott)