B & Capital holds first close for maiden fund

The hard-cap for the fund has been set at €250m. The GP is planning to hold a final close towards the end of 2018.

A spokesperson for B & Capital confirmed the investment period should be around five years and that the GP has set a 2% management fee, a 7% hurdle and a 20% carry. 

B & Capital is a private equity firm set up in 2016 and sponsored by consultancy Roland Berger, which is a minority investor in the GP. A portion of the carry will be given to Roland Berger for its services supporting the allocation of capital.

B & Capital’s investment team is composed of former Omnes Capital members Philippe Zurawski, Bertrand Tissot and Mikaël Schaller.

Investors 
Institutional investors such as BPI France and Ardian, a few banks and an insurance company, family offices and private investors  have backed the fund. Some of the individual investors include members of the management team of Roland Berger – they agreed to contribute a minimum of 5% to the total amount of capital raised.

Investments 
The GP will make equity investments in French companies with enterprise values of between €20-100m, aiming to turn them into mid-cap businesses in the long run. The firm will focus on a buy-and-build strategy and will foster the companies’ international expansion. It will target a dozen investments and will offer support from a network of Roland Berger professionals.

The fund will focus on companies operating in six sectors: business services, health, distribution, technology, specialised industries and environment.

People 
B & Capital – Philippe Zurawski, Bertrand Tissot (partners); Mikaël Schaller (director); Bernard Arock (general secretary). 

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