LBO France, the French mid-market private equity house, has launched Hexagone, a €50m ($53.7m) fund targeting investments with an enterprise value of between €10m and €50m.

The fund plans to make up to 12 investments in the industrial and service sectors and has hired Jean-Marie Leroy to co-ordinate dealflow. Leroy previously specialised in small leveraged buy-out transactions at Dôme Close Brothers and Paribas.