iXO Private Equity separates from IRDI

IRDI and CDC Entreprises, which owned 36% and 27% of iXO Private Equity respectively have also sold their stakes to iXO's staff. The management company is now fully owned by its 14 members of staff.

iXO and IRDI had systematically been co-investing up until mid-2010. As the two structures had been working on different projects since then, a joint team was no longer required.

The move will allow both IRDI and iXO to focus on different investment strategies. While the teams will be separated, IRDI will remain an LP in iXO's funds and will commit to iXO's next vehicle.

iXO Private Equity president Renaud du Lac told unquote" the move will not impact the GP's strategy and support from LPs in any way. Co-investing with IRDI on a ad hoc basis also remains a possibility.

Founded in 2003, iXO Private Equity has around €250m of assets under management. The Toulouse-based GP invests in both growth capital and buyout deals for French businesses valued in the €2-10m range.

LPs in iXO funds include CDC Entreprises, IRDI, CNP Assurances, Macif, Malakoff Médéric, Natixis, Idinvest, CIC Sud-Ouest and Caisse d'Epargne Midi-Pyrénées. The GP also manages a range of retail funds.

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