TA Associates takes 50% stake in DNCA Finance

DNCA's enteprise value remains confidential, but is understood to sit at the upper end of the €300-400m range. TA acquired its stake from investment bank Gruppo Banca Leonardo, which will retain around 10% of the shares. The remaining 40% stake will be held by the management team.

The transaction will add another European asset management firm to the US GP's portfolio: TA backed the £740m management buyout of UK-based Jupiter Asset Management from Commerzbank in 2007.

Debt
Socgen is believed to have underwritten the senior debt package for the buyout.

Company
DNCA Finance is a Paris-based asset manager with 45 employees and €5.8bn in funds under management. The company was founded in 2000 and offers clients a number of different fund products investing in France, the wider Eurozone and internationally.

People
Christopher Parkin led the deal for TA – he will join DNCA's board following the transaction. Jean-Charles Mériaux is CEO and CIO of DNCA Finance.

Advisers
Equity – Morgan Stanley (Corporate finance).

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• Topics
• France
• Buyouts
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• TA Associates
• Société Générale Securities Services