Jordan/Zalaznick targets Europe with 400 million euro fund

LONDON, Jan 25 (Reuters) - Jordan/Zalaznick Advisers hasraised a 400 million-euro ($433 million) private equity fundwhich will target smaller European companies, the investmentadviser said on Monday.

The firm, which is seeking to expand its portfolio and focuson financial services among other sectors, also makesinvestments through its London-listed vehicle JZ CapitalPartners.

It was originally targeting 350 million euros for JZI FundIII, which it has opened to outside investors for the firsttime, as it sought the firepower to buy up Western Europeanbusinesses with enterprise values of up to 150 million euros.

"We have taken advantage of dislocation in the bankingsystem in Europe. We think non-bank lending is a very largeopportunity," David Zalaznick, co-founder of and adviser to JZCapital Partners, told Reuters by telephone.

"We're not going to buy portfolios of debt. Instead we aresetting up platforms with operating partners and providinggrowth capital."

Zalaznick and his team have already invested in consumerlending platforms, including Finland's My Lender Oy and Italianbusiness Fincontinuo.

Jordan/Zalaznick held a so-called first close of 237 millioneuros in September. A first close is the point at which, havingraised a certain amount, a fund is able to begin buyingcompanies.

JZ Capital Partners has committed 75 million euros to thefund, while the founders and management team of JZ CapitalPartners as well as its investment advisors have committed afurther 25 million euros. ($1 = 0.9240 euros) (Reporting By Freya Berry; Editing by Alexander Smith)

Jz Capital