Euro PE holds first close on €82.5m for France Sélection III

Alice Tchernookova
06 February 2017

Tweet
Facebook
LinkedIn
Google plus
Send to

Natixis subsidiary Euro Private Equity (Euro PE) has held a simultaneous launch and first close on €82.5m for the third generation of its France-focused fund-of-funds, Euro-PE France Sélection III.

The fund is part of the GP's Programme France Investissement initiative, launched in 2007 and consisting of France-focused funds-of-funds. Two funds preceded Sélection III – Dahlia France Investissement, and Masseran France Sélection, totalling around €100m in commitments. The programme forms part of the European Commission's Investment Plan for Europe (EC IPE), also known as the Juncker Plan.

Sélection III is the first fund-of-funds formed from the partnership between BPI France and the European Investment Fund (EIF), the GP said. The fund is now targeting €100-120m of commitments by year-end.

In 2016, Euro PE gathered €130m for its Euro-PE Select Opportunities – a fund-of-funds with a European scope.

Investors
Sélection III has received commitments from BPI France, EIF, Natixis Global Asset Management (to which Euro PE belongs), and Natixis Assurances. They were joined by insurance companies, family offices and French private investors.

Investments
The fund will pursue the investment strategy put in place with the French-focused fund-of-funds programme launched by the GP in 2007, targeting French and EU venture, growth and buyout funds that focus on the small-to-mid-cap segment, and investing in SMEs and very small businesses.

Around 70% of the funds are to be focused on primary investments, while 30% will go to co-investment opportunities and secondary transactions. The average ticket should be in the region of €5m.

Four funds have already been supported by Sélection III – Montefiore Investment IV, MBO Capital IV and Alven Capital V in France, and Atomico IV in the UK.

People
Euro Private Equity – Benoit Kerleau (managing partner).