Initiative & Finance invests in Bel Air Fine Art

This is the investor's first deal in Switzerland. It drew equity from Initiative & Finance FPCI II, a €168m fund launched in 2015.

The company's founder, François Chabanian, has retained a majority stake. 

The small-cap fund writes €2-15m tickets, with a sweet spot in the €4-10m range. The vehicle seeks companies valued in the €5-50m space when acquiring majority stakes, and considers assets with enterprise values of up to €80m with minority investments.

Bel Air Fine Art intends to use the new funding to expand internationally, starting with a new gallery in Belgium.

Company
Bel Air Fine Art was founded in 2004 in Geneva. Founder François Chabanian has financially supported the company since it began. Its clientele includes international art collectors and its artworks are in the medium to high price range. The company generates a turnover of €20m. The group has a presence in Switzerland, France, Italy, Spain, Lebanon and the US.

People
Bel Air Fine Art – François Chabanian (founder).

Advisers
Equity – Lamartine Conseil, Fabien Mauvais, Camille Le Foyer de Costil (legal, ESG due diligence); Advance Capital, Jean-Charles Geoffroy (financial due diligence).
Company – Fontanet & Associés (legal); Gereje Corporate Finance (corporate finance).

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• Topics
• Expansion
• DACH
• Consumer
• Switzerland
• Lamartine Conseil
• Advance Capital