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Patron gears new fund for €1.5bn buying spree

Patron Capital, a UK-based buy-out firm, has raised €303m ($386.5m) in a second fund and plans to add enough debt to acquire €1.5bn of assets.

That four-to-one debt-to-equity ratio is almost double the typical two-to-one and is reminiscent of the late 1980s private equity bubble.

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