Turenne Capital holds first close on €60m for Emergence ETI

The vehicle, which targets SMEs with a turnover within the €20-100m range, is targeting €100-150m in total commitments for its final close.

Turenne Capital currently has offices in Paris, Lyon, Lille and Marseille, and could soon be opening another in one of France's north-western regions, such as Brittany or Pays de la Loire. The firm also recently announced the recruitment of CM-CIC LBO Partners board director Bertrand Fesneau as co-managing director.

Investors
Investors in the fund already include Crédit Agricole Nord de France – with which Turenne Capital co-manages Nord Capital Investissement – and French high-net-worth family Dassault.

Investments
Emergence ETI will invest in French SMEs with revenues ranging between €20-100m, with equity tickets ranging between €5-15m. The fund should be deployed through less than 10 businesses in total, preferably in non-intermediated transactions.

People
Turenne Capital Partenaires – Olivier Motte (CEO).

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