France's Telecom, Publicis Launch $200M PE Fund With Iris

Law360, New York (March 12, 2012, 5:27 PM EDT) -- France Telecom SA and French advertising firm Publicis Groupe SA have teamed up with European buyout firm Iris Capital Management LLC to launch three funds totaling €150 million ($197 million) focused on digital technology, the companies said Monday.

Pre-existing commitments from Iris investors, which include the European Investment Fund and state-owned Groupe Caisse des Depots, will bring the venture's total firepower to more than €300 million ($394 million).

Publicis Groupe CEO Maurice Levy said the companies already have received significant interest from potential portfolio companies....
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