Eurazeo enters exclusive discussions for Idinvest deal

Greg Gille and Francesca Veronesi
02 January 2018

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Eurazeo has entered exclusive talks to acquire a majority stake in asset manager Idinvest from listed majority shareholder IDI and management.

Following the proposed transaction, Eurazeo would own approximately 70% of Idinvest alongside the management team. The business will continue to be managed independently, with the same team remaining in place.

According to a report by French daily Les Echos in December, Idinvest's valuation would be in the region of €300m.

In October, unquote" reported that majority shareholder IDI was exploring options to sell its Idinvest stake. IDI owned a 51% majority stake in Idinvest prior to the Eurazeo deal, with managing partners Christophe Bavière and Benoist Grossmann holding the balance. Investment bank Messier Marris was appointed by IDI to advise on a potential sale.

The new backer will support Idinvest in its next growth phase, in the wider context of internationalisation and consolidation taking place within private equity.

IDI orchestrated the spin-out of AGF Private Equity from Allianz in 2010 with a €27m investment, leading to the creation of Idinvest. The latter has now considerably extended its reach, both as a GP and a fund-of-funds, with particular inroads made in the venture and credit spaces. Idinvest currently manages €8.4bn.

Eurazeo is a Euronext-listed investment company with AUM of approximately €8bn, of which €1bn is from third parties. Virginie Morgon was recently appointed as CEO of the firm, taking up the role in March 2018.

Click here to view a full profile of Idinvest as an LP. For a detailed breakdown of the firm's direct investment strategy, click here.

Click here for a full breakdown of the funds and portfolio managed by Eurazeo.

Following the envisaged transaction,
Eurazeo would own approximately 70% of the company alongside management team.