Arkéa launches €200m evergreen fund

The fund, which will be headed by Arkéa CEO Marc Briere, is an evergreen vehicle that will participate mostly as a minority investor in leveraged buyout-type transactions. 

It is itself a leveraged vehicle, as half of the fund's capital is provided by Crédit Mutuel Arkéa, and the rest is made up of bonds subscribed by Suravenir – the group's life insurance subsidiary.

Over time, divestments should enable Arkéa Capital Managers to reimburse the subscribed bond lines, and to have €200m in equity at disposal.

Arkéa also recently launched two venture capital funds: West Web Valley 1 (€30m) and We Positive Invest (€20m). With this latest addition, the firm should have around €1bn assets under management, with a 20-strong team of investors spread across five offices in France.

Investments
Arkéa is an SME-focused investor targeting assets in Aquitaine, Brittany and other regions in western France.

Arkéa Capital Managers will invest equity tickets ranging from €10-30m in a dozen French SMEs with a turnover in excess of €50m. It will participate as minority investor alongside family shareholders, or company managers willing to take control of their business.

It will therefore function differently to the firm's two other LBO funds – Arkéa Capital Investissement, a co-investment vehicle providing €1-10m equity tickets, and Arkéa Capital Partenaire, which provides significantly larger tickets that can amount to €70m.

Holding periods for Arkéa Capital Managers should vary between seven to nine years.

People
Crédit Mutuel Arkéa – Jean-Pierre Denis (CEO).
Arkéa Capital – Marc Brière (CEO).

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