EMZ Partners reaches €815m hard-cap

A spokesperson for EMZ confirmed this is the firm's largest vehicle to date, surpassing its 2014 predecessor, which closed on €695m.

Reach Capital acted as placement agent during the fundraising process.

EMZ specialises in private bond financing as part of management-sponsored transactions, in which family or management are majority shareholders. The fund generally invests between €10-120m at a time.

Investors
A slight majority of investors are France-based, with the remaining LPs being European and North American. Pension funds, insurance companies and family offices committed to the vehicle.

Investments
The fund targets French SMEs with an enterprise value of €450m on average and a strong international presence. Its ticket size will be approximately €40m. EMZ 8 has already invested in 5 companies: Onet, MCI, Ginger CEBTP, Forlam and Castellet.

A source close to the situation mentioned that the current portfolio and deals in the pipeline are only management-sponsored transactions, though mezzanine investments in majority LBO deals could also take place in future. 

People
EMZ Partners – Thierry Raiff (chair); François Carré (managing partner).

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