Eurazeo increases stake in Idinvest to 80%

The additional purchase was a provision in the agreement struck by the two firms in 2018, and was done on the basis of multiples set at the outset, Eurazeo said. Eurazeo now owns 80% of Idinvest.

Eurazeo acquired 70% of French asset manager Idinvest in early 2018, while management retained the remainder of the shares. The transaction saw Eurazeo buy its stake for approximately €230m, with Idinvest's enterprise value set at €310m.

Idinvest was created through the spin-out of AGF Private Equity from Allianz in 2010, orchestrated by IDI with a €27m investment.

Idinvest is an asset manager specialising in seed investments, leveraged buyouts, growth capital, debt financing, mezzanine, capital restructuring and recapitalisation transactions in the lower-mid- and mid-market segments. It is headed by CEO Christophe Bavière and managing partner Benoist Grossmann.

Eurazeo and Idinvest now have a combined €18.8bn in assets under management.

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• Topics
• GPs
• France
• Eurazeo
• IDInvest Partners (AGF Private Equity)