Siparex, a French private equity group with €683m ($603.1m) in funds under management, believes that it will be on-target for its latest middle market buy-out fund in spite of the difficult fundraising climate.

Siparex SPF III Middle Market, which launched in June 2000, has already raised €90m and executives at the private equity group believe that agreements with investors will boost the total to between €120m and €150m by May 12, the date of the fund's final closing.