Momentum Invest I closes on €110m

Momentum was founded in 2017 by entrepreneur Pierre Le Tanneur and private equity investors Alain Cochenet (formerly at Pechel), Tristan Parisot (formerly European Capital) and Arthur Bureau (formerly at BPI France).

Launched in Q3 2017, the vehicle held a first close on €83.4m in June and an interim close on €101m in July this year.

Having now completed the fundraise, Momentum plans to strengthen its investment team, recruiting an investment director and a chargé d'affaires.

Investors 
Ten institutional backers – including BPI France and the European Investment Fund, and French mutuelles pension funds and banks – backed Momentum Invest I, providing 70% of current commitments. The remainder was committed by private investors.

Investments 
The GP targets France-based companies related to the services sector. The firm decided to invest in French service companies, with no production sites, because it considers them significantly more profitable than their industrial equivalents in the long term, Unquote understands. 

It will target companies that generate a €10-100m turnover and provide equity tickets of €3-12m in exchange for both minority and majority stakes.

The vehicle has completed its first investment: Groupe Moving Fitness Park, a low-cost gym operator founded in 1985 and based in Paris.

People
Momentum Invest – Pierre Le Tanneur, Alain Cochenet, Tristan Parisot, Arthur Bureau (founding partners).

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