IK, Luxempart invest in Eurazeo's IM Global Partner

The sold stake amounts to around 20% of the company's capital. The sale has generated proceeds of around €70m for Eurazeo – a cash-on-cash multiple of 2.1x and an internal rate of return of 22% on the investment.

Dassault/La Maison, a shareholder from the outset, is also selling its stake in the business.

Following the transaction, Eurazeo will remain the controlling shareholder in the business and continue to actively support the company alongside its new investors.

Eurazeo initially invested in Amundi-backed IMGP (at the time branded as IM Square) in June 2015. Subsequently, the GP injected further capital in the business, increasing its stake in the company to 67% in March 2018.

With the support of its new investors, the company expects to further expand its network and accelerate its growth, both organically and through external acquisitions, with the aim of exceeding $100bn in assets under management within five to seven years.

The transaction is subject to the approval of the French Autorité des Marchés Financiers and the Commission de Surveillance du Secteur Financier.

Company
IMGP provides an asset management network dedicated to connecting investment firms with financial institutions, wealth advisory platforms and investors worldwide.

Headquartered in Paris, IMGP is present in 11 locations across Europe and the US. The company offers a wide range of investment services, including the Oyster range, a Luxembourg SICAV, but also Mutual Funds and ETFs dedicated to US investors.

IMGP increased its assets under management by 65% – of which 46% through organic growth – to more than $19bn in 2020.

People
IM Global Partner – Philippe Couvrecelle (CEO).
Eurazeo – Marc Frappier (managing partner).
IK Investment – Thomas Grob (partner).
Luxempart – Olaf Kordes (managing director).

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• Topics
• Expansion
• France
• Financials
• Exits
• Eurazeo
• IK Investment Partners
• France
• Partial sale