Credit Agricole launches co-investment activity

01 October 2009

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Fund

Credit Agricole Private Equity has launched a EUR150m co-investment activity that will take minority equity stakes alongside European and North-American investment funds. The activity is set up in two different funds, which currently hold EUR50m each.

While one vehicle, Predica 2007 Co-Investment Fund, is closed with EUR50m of capital, the second, Credit Agricole Private Equity Co-Invest 1, which currently has EUR50m, will be open to third party investors with a target of EUR100m. The total EUR100m invested thus far has been financed solely by Credit Agricole and its subsidiaries. Bastien Reheis law firm provided the fund with legal advice.

Investors

The closed Predica 2007 Co-Investment Fund was fully provided by Predica, a Credit Agricole insurance subsidiary. The second fund, Credit Agricole Private Equity Co-Invest 1, has had EUR50m attributed to it by Credit Agricole with the remaining EUR50m investment targeted to be from third party LPs.

Investments

The private equity house will invest the fund globally in mid to large-scale LBOs and expansion capital across all sectors, with an investment capacity of EUR15m per deal. The fund will invest in companies with an enterprise value of between EUR50m-5bn. The funds will not invest alongside other Credit Agricole funds.

People

The fund will be managed by Fabien Prevost and Frantz Paulus. Francoise Bastien Reheis and Caroline Mathon worked as legal advisers to the fund for Bastien Reheis law firm.

Name: Predica 2007 Co-Investment Fund

Credit Agricole Private Equity Co-Invest 1

Target: EUR150m

Closed on: EUR100m

Focus: Buyout co-investments

Contact: Fabien Prevost

Address: 100, Boulevard du Montparnasse

75682 Paris cedex 14

Tel: +33 1 43 23 90 88

Fax: +33 1 43 23 33 19

Advisers: Bastien Reheis (Legal).