Euro PE holds €100m final close for France Sélection III

The fund held a first close on €82.5m in February 2017 and was at the time targeting €100-120m by Q4 2017.

The fund is part of the GP's Programme France Investissement initiative, launched in 2007 and consisting of France-focused funds-of-funds.

Sélection III is the first fund-of-funds formed from the partnership between BPI France and the European Investment Fund (EIF), the GP said.

Euro PE is planning to launch a €250m fund in the next few weeks exclusively dedicated to secondaries and co-investments across Europe, Unquote understands.

Investors
Having received commitments from Natixis, BPI France and EIF at the time of its first close, Euro PE has also received around €15m from institutional LPs including pension funds and insurance companies, and also relied on private investors to complete its fundraising.

Investments
More than half (55%) of the fund is already deployed via nine primary investments, two co-investments and one secondary, a source close to the situation confirmed.  

France Sélection III has backed GPs including MBO Partenaires, Montefiore Investment, ArchiMed, Ekkio, Ciclad, Parquest, Alven Capital and Atomico.

Euro PE confirmed that 20-30% of the vehicle will be dedicated to co-investments and secondaries. The LP aims to complete 7-10 additional investments in the next 12-18 months.

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

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• Natixis