Serge Weinberg, the former chief executive of Pinault Printemps Redoute, the French retailer, has raised €380m ($452m) for the first close of his inaugural private equity fund.

Weinberg Capital Partners, which launched in April, is targeting a €500m final close for a French mid-market fund which will focus on companies in traditional manufacturing, professional and retail distribution, and services with an enterprise value between €40m and €400m.