Allianz, BPI France launch Idinvest-managed fund-of-funds

Alice Tchernookova
08 July 2016

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Allianz and BPI France have held a first close on €80m for new fund-of-funds AFI IV, to be managed by Idinvest Partners.

The fund aims for a €150m final closing by 2017 and will be managed by Idinvest Partners. Allianz and BPI France have jointly invested in the fund.

A source close to the matter said the fund was not open to external investors for now, as BPI and Allianz both have the capacity to commit more capital in the future.

The fund is part of the France Investissement Assureurs plan – an initiative launched in 2007 through which BPI France established partnerships with five large insurance companies in France to support investment in SMEs.

AFI IV will help identify and select investment funds aimed at accompanying French start-ups and businesses of a moderate size, and support them through their growth and development.

Investments
The fund will invest mostly via primary transactions, targeting funds backing young French SMEs. It will also occasionally invest via secondary transactions and direct co-investments.

Investment tickets will range between €3-10m per fund.

People
Idinvest Partners – Christophe Baviere (CEO).
BPI France – Nicolas Dufourcq (managing director).
Allianz France – Matthias Seewald (investment director).