Meeschaert launches maiden mid-cap fund

Greg Gille
03 December 2014

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Meeschaert Capital Partners, the private equity arm of French asset management group Meeschaert, has already raised €85m for its maiden lower-mid-cap fund.

Meeschaert Private Equity Fund was launched with a €150m target and has already attracted commitments worth €85m (including €15m of co-investments). A final close is expected at some point in 2015.

Meeschaert launched its private equity arm, Meeschaert Capital Partners, in April 2012. The management company was at the time waiting to receive approval from regulatory body AMF before raising its first FCPR vehicle.

Investors
The fund has so far received commitments from around 40 individual investors, namely entrepreneurs and business managers. Meeschaert Capital Partners is now looking to attract institutional investors and family offices for the second phase of the fundraising process.

Investors in the vehicle will have the choice to redistribute part of the fund's proceeds to several charities, including some put forward by Meeschaert.

Investments
Meeschaert Private Equity Fund will focus on French lower-mid-cap businesses, with turnovers in the region of €20-200m.

People
Meeschaert Capital Partners is co-headed by Geoffroy de Chézelles – who joined from BNP Paribas – and Hervé Fonta, who previously worked at Edmond de Rothschild Capital Partners and Chequers Capital.

The GP is looking to recruit a new director next year.