UI Gestion hold first close of M.I 5 on EUR50m

Fund

UI Gestion has held a EUR50m close of its FCPR fund M.I 5. The fund has a target of between EUR80-100m. The new fund takes over from M.I 4, which was raised in 2006 and is now 95% invested, with 16 investments. The new fund was launched in Q4 2008 and hopes to hold a final close in 2010.

Investors

Investors in the fund so far include CDC Entreprises, which invested EUR11m, and Dahlia Partners, which provided EUR5m. A.C.M Assurances from Credit Mutuel, and Credica, Credit Agricole's insurance division, have also contributed to the fund, along with a number of private individuals.

Investments

UI Gestion will seek to use the fund to lead investments either in growth capital transactions or small LBO deals. M.I 5 will not invest in venture. The investor will seek to invest between EUR2-10m per transaction for a minority or majority stake in French companies which typically have an enterprise value of between EUR10-50m. The fund will do an average of five deals annually with a total of 20 deals in total.

People

The fund will be managed by Michel Deprez, Aymeric Balmont, Olivier Jarrousse and Jean-Jacques Vaury, who lead team of 11 which includes Rober le Roux and Francois Gressant. Daniel Schmidt and Olivier Dumas provided legal advice for the fund on behalf of Proskauer Rose.

Name: M.I 5

Closed On: EUR50m

Focus: Expansion/buyouts

Contact: Aymeric Balmont

Address: 22 avenue Franklin Roosevelt, 75008, Paris

Tel: + 33 (0) 1 42 56 66 00

Advisers: Proskauer Rose (Legal).

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• Topics
• Fund-of-funds
• France