Industri Kapital is expected to hold a €1.6bn ($1.95bn) final close on its 2003 European buy-out fund this autumn after securing its third exit in five months through a €315m secondary buy-out of Groupe Fives-Lille, a French engineering group, to Barclays Private Equity and the company's management.

The Nordic buy-out firm that has been struggling to raise a fund with an original target close of €2.5bn for more than eighteen months, has doubled its money on the investment.