Rothschild launches €30m feeder fund-of-funds

Quadrant is an FPCI with a standard 10-year and two one-year extensions lifespan. According to Rothschild, fundraising for the vehicle was initiated in Q4 2015 and will continue into Q1 2016.

The fund was launched one month after the GP announced a step-up of its private equity operations. Speaking to unquote", Johnny el Hachem, who heads the firm's private equity arm, revealed a roadmap to add €1.5-2bn in managed assets to its currently €3bn-strong dedicated portfolio in the next two and a half years.

At the time, el Hachem explained the figure would be attained by boosting operations across its whole fund spectrum. Three of the firm's vehicles – China 2, Ginkgo 2 and TIIC 2 – are currently fundraising and there is work underway to add new funds to the Cabestan, BioDiscovery, Amethis and Edmond de Rothschild Europportunities (ERES) families.

Investors
Rothschild has yet to disclose the names behind Quadrant's LP base. Each private investor will have to contribute more than €100,000 to the fund.

Investments
Quadrant's capital will be wholly dedicated to six Rothschild funds, covering a diverse mix of the LBO, venture capital and co-investment spaces across Europe, the US and China.

The ERES III and Cabestan II vehicles will each be allocated 25% of the fund-of-funds' capital once they are launched. This will be followed by Winch Capital 3 and Biodiscovery 4, tied in second place with 16.7% of all commitments.

The second funds within the EdR PE China and Ginkgo franchises will receive 10% and 6.7% of Quadrant's capital, respectively.

People
Quadrant will be managed by Rothschild's EdRip arm, which is currently led by founding partner Pierre-Michel Passy. 

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