XAnge's chair steps down following Siparex merger

Following his departure, Schricke is to focus on African private equity after becoming chair of Africa Club in March. Launched by French industry body Association Française des Investisseurs pour la Croissance (Afic), the scheme seeks to support French private investors looking to operate in the continent.

Schricke's involvement with Afic dates back to April 2010, when he was appointed as vice-president after chairing the VC committee. Four months afterwards, the industry body raised him to CEO, a role he retained until June 2012.

In parallel with his responsibilities at Afic, Schricke co-founded XAnge Private Equity in 2004 and was the CEO of the VC until 2014, at which point he became chairperson.

He was chair when Siparex announced it would become a majority shareholder in XAnge as both housed merged operations. The union, sealed in May 2015, saw Banque Postale, the owner of 90% of XAnge, fully divest its stake.

The integration, part of a consolidation trend observed by unquote" within French private equity, led to the inception of a group representing a combined €1.5bn in assets. At the time, Siparex stated it would keep its focus on mid-market and regional investments, while the XAnge brand would be used for early-stage financing.

The departure of one of XAnge's emblematic figures takes place three months after Olivier Pagezy was appointed as CEO by the VC.

Following its takeover of XAnge, Siparex initiated a flurry of divestments over the summer. Sold assets included electrical power provider Sylpa, sold back to management in July; lightning case designer Sogexi, offloaded to corporate Lacroix that same month; and most recently, medical supplies Laboratoire Tetra Medical, exited to 3T Group last week after XAnge's 12-year tenure.

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