Groupama completes disposal of private equity unit

Groupama will retain all its interests in funds managed by Quartilium and Acto Mezzanine. Quartilium manages €1.4bn while Acto Mezzanine has €200m of assets under management.

On the other hand, the insurer agreed last week to sell its 82% stake in the funds managed by Acto Capital, the third arm of its former private equity division. Groupama sold the stake to investment company Luxempart and secondaries specialist Five Arrows Managers, which invested via its third fund. The remaining 18% will remain in the hands of French institutional investors. The two funds will still be managed by the Acto team through a new management company.

Groupama announced that it was looking to divest its private equity business at the beginning of 2012. The troubled French insurer plans to boost its capital base and restructure after it was hit by the fallout of the sovereign debt crisis.

Meanwhile ACG has been busy acquiring private equity managers in the past couple of years. It most recently bought French secondary investment firm BEX Capital in June 2012, following the acquisitions of Viveris Management and Gimar Capital Investissement in 2011.

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