CIC and BNP Paribas pursue China strategy with Eurazeo

The GP has been selected by CIC and BNP Paribas to manage a €1-1.5bn vehicle dedicated to French and European companies seeking to expand rapidly in China.

The vehicle, yet to be formally launched, will have CIC, BNP Paribas and Eurazeo as cornerstone investors, Unquote has learned. The investment of the three partners should be around 30%.

Eurazeo will be responsible for managing the fund, as well as sourcing and managing the investments. Located in China since 2013, Eurazeo has a team of eight professionals in the region.

The GP is not planning to hire new staff members, though its professionals based in China will work closely with a team from CIC. 

Planet, Asmodee, Worldstrides, Colisee and Neovia are portfolio companies of Eurazeo, which have expanded into the Chinese market already, Unquote understands. 

BNP Paribas posted a net income of €7.52bn in 2018, while CIC's net income in 2017 totalled €1.29bn, according to statements by the firms.

Eurazeo is a Euronext Paris-listed investment company, with a diversified portfolio of €17bn in assets under management, including nearly €11bn from third parties, invested in around 300 companies. The investment company operates activities related to private equity, venture capital, real estate, private debt and funds-of-funds. It has offices in Paris, New York, Sao Paulo, Buenos Aires, Shanghai, London, Luxembourg, Frankfurt and Madrid.

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• Topics
• Funds
• France
• Buyout
• France
• Eurazeo
• BNP Paribas
• CIC