R Capital gains independence from Rothschild

The Keensight Capital team will continue to be led by Jean-Michel Beghin, Jérôme Pujol and Pierre Rémy and will execute the same strategy. 

Keensight will take minority and majority stakes, with or without leverage, in European companies that generate revenues of €10-150m. 

The GP has committed capital to 35 companies and completed 25 divestments since its creation 15 years ago. 

Recent transactions include the listing of spinal implant devices firm LDR Medical, which raised $75m in an IPO on the Nasdaq in October, giving the company a market cap of $489m.

The carve-out is the latest in a wave of spinouts in the French market. In September, French insurer Axa completed the sale of its private equity arm to a management-led consortium for €510m and re-branded as Ardian. Led by CEO Dominique Sénéquier, Axa Private Equity's management team and employees bought 46% of the business, with Sénéquier securing 10% of the shares. Axa retained around 23% of Ardian.

Earlier this year, the team in charge of direct investments at BNP Paribas Private Equity span out, giving rise to new private equity firm Isatis Capital.

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