EdRip acquires Acto Mezzanine from ACG Capital

ActoMezz had been acquired from Groupama Private Equity in 2013, when the insurer had sold its funds-of-funds activity, subsequently renamed ACG Capital, to ACG.

The acquisition enables EdRip to enter the private debt market, acquiring a mezzanine debt tool. Meanwhile, ACG explained the quick turnaround for its investment in ActoMezz by the need to re-focus its activity on investing in European private equity funds on behalf of international LPs.

As a result of the transaction, EdRip will have a 54-strong team and €1.5bn under management, not taking into account the current or upcoming fundraising for its Cabestan Capital 2 and Bio Discovery 5 funds.

ActoMezz currently has €400m under management. It arranges mezzanine debt and provides minority equity investments, intervening in sponsorless, growth financing and sponsor transactions. It invests between €5-45m in French SMEs with an EV within the €20-150m range.

ActoMezz has raised two funds so far: Acto Mezzanine 1, closed in 2008 on €187m, and Acto Mezzanine 2, closed in 2015 on €210m. A third fund, Acto Mezzanine 3, is expected to be launched in H1 2017.

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