Activa appoints managing partners in succession reshuffle

Parier, Masson and the firm's fourth partner Pierre Chabaud have increased their stakes in the management company by acquiring the shares of co-founders Michael Diehl and Philippe Latorre. Diehl and Latorre will remain as senior advisers to the firm. 

Parier and Masson were hitherto partners, in charge of deploying and monitoring Activa's third fund, raised in 2014.

Activa Capital III focuses exclusively on primary LBOs – a different strategy to the fund's predecessor, which backed both primary and secondary buyouts. 

According to Unquote Data, Activa Capital III was originally launched with a target of €320m. In total, adding the potential for co-investments, the fund was thought to have reached €220m of deployable capital during 2015. It began investing towards the end of that year and has made seven primary investments, including Alliance Etiquettes and Look. 

The vehicle is currently 70% deployed, a spokesperson for Activa disclosed. The GP will soon look into starting the fundraising for the next vehicle, Unquote understands. 

Parier joined Activa shortly after inception in 2003, with previous experience from 3i France and Royal Bank of Scotland – Private Equity.

Masson joined in 2012 after 10 years spent as an operational and financial adviser at Alvarez & Marsal and KPMG.

Alexandre Masson, Activa Capital

Chabaud joined the firm in 2009, having worked for five years as a management consultant at Bain & Company and Arthur D Little.

Masson and Chabaud were promoted to partner in 2016, alongside Benjamin Moreau and Jean-François Briand. Moreau left earlier this year to join MBO Partenaires as partner, while Briand left a year ago to become managing director at La Maison du Whisky.

Brothers Charles and Michael Diehl co-founded Activa alongside Philippe Latorre in 2002. Charles had notably co-founded Barclays Private Equity France and Pallas Venture prior to that. Michael was a partner responsible for investor relations and co-investments at Activa for 16 years. Latorre had previous experience from PAI and was a partner responsible for portfolio management at Activa until 2018.

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