Idinvest targets private investors with new fund-of-funds

Alice Tchernookova
11 July 2016

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Idinvest has launched Idinvest Opportunities, a €50m secondaries fund-of-funds dedicated to investments in the European mid-market and open to private investors.

The vehicle is aimed at making joint investments with Idinvest Secondary Fund III, through which the GP is hoping to raise €400-500m. It will operate partly as a fund-of-funds, and will also invest in direct secondaries, the GP said.

The fund was launched in mid-June, and will be open until June 2017 with a possibility of extension until September. The hard-cap has been fixed at €75m.

It is the first time Idinvest has opened up a fund to private investors, the GP added. Along with Idinvest Secondary III, the fund is part of a €500m investment programme.

Investors should start receiving returns in H2 2022 and H1 2023.

Investors
Investors are essentially private bank customers, the GP said. Investment in the fund will also be made available on certain life insurance contracts starting from September. Investors must commit a minimum of €20,000.

Investments
The vehicle will invest in funds targeting the European mid-market, investing in rather mature businesses in the industrial and services sector. Each investment will not represent more than 2% of the fund, the GP said, explaining the fund will aim to be "very diversified."

The GP plans to ultimately back between 50-100 companies in total, via around 10 secondaries transactions.

People
Idinvest Partners – Luc Maruenda (partner).