Idinvest Secondary Fund II holds €214m final close

The fund originally had a target of €150-200m when it launched in January 2012. However, at the time of the first closing in September 2012 this changed to a target of €200m with a hard-cap of €300m.

The fund held its first close in September 2012 on €100m, according to unquote" data, with a third of the committed capital from new LPs.

Ashurt provided legal advice to Idinvest at the time of the fund's first closing.

Investors
More than 35% of the fund's committed capital came from new investors, namely family offices and institutional investors from Europe, Asia and the US.

Investments
ISF II will focus its efforts on acquiring shares of private equity funds in the European small- to mid-cap secondaries market.

Following the fund's first closing, ISF II invested in the vehicles backing Innovia Films, a UK chemicals company that is backed by Arle Capital Partners; Italian luxury jacket maker Moncler, which is backed by Carlyle, Eurazeo and Progressio Investimenti and floated on the Italian stock market in December last year; and Edenred, a French prepaid corporate services company sold by Eurazeo in March last year.

People
Christophe Simon is head of secondaries at Idinvest.

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• Topics
• Secondaries
• France
• France
• IDInvest Partners (AGF Private Equity)