The firm, formerly the buyout arm of HSBC
Montagu is seeking to match the 2.25 billion euros it raised in 2005 for its third fund, the sources said.
The fundraising climate remains tough, with the average time needed to raise a buyout fund rising to more than 19 months from under 11 months in 2006, according to data provider Preqin.
Montagu joins a group of European firms seeking new money for deals. BC Partners
To prepare for the fundraising, Montagu has returned over 1 billion euros to its investors since early 2009, selling a raft of portfolio companies including German sausage casing marker Kalle and French diagnostics business Sebia.
It extended the investment period of its current fund at the start of the year to allow it another year to spend remaining capital.
Montagu is still considering further disposals. It has brought in KPMG to investigate options for electronics retailer Maplin, which it bought in 2004 for 244 million pounds, one of the sources said.
Maplin could fetch 400 million pounds if it achieves 10 times its 2009 earnings before interest, tax, depreciation and amortisation (EBITDA) of 40 million pounds.
Profits have doubled at the company since Montagu bought it, as have the number of stores, one of the sources said. Maplin has 176 stores with another 15 planned for this year.
Montagu is just as likely to keep hold of the business as to sell it, the source said.
Montagu declined to comment.
(Editing by David Holmes)
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