Former LBO France partners launch debt-focused Kartesia Advisor

The Kartesia Credit Opportunities vehicle was launched this year and recently held a first close on €225m. The GP was also founded this year by four co-managing partners: Laurent Bouvier, Jaime Prietto, Matthieu Delamaire and Damien Scaillierez.

Bouvier, Prietto and Delamaire were all previously partners at French firm LBO France, in charge of the GP's Altercap family of debt vehicles. Kartesia will co-manage the Altercap funds with LBO France: the latter will retain the ultimate decision-making power while Kartesia will take care of day-to-day management. Altercap will also remain an LBO France brand going forward.

Joining Bouvier, Prietto and Delamaire as managing partner is Damien Scaillierez. He previously was chief investment officer and chairman of the global investment committee at ICG. He also held the position of co-head of ICG's French business.

A spokesperson could not immediately comment on whether Scaillierez was still working for the firm, although his profile does not appear on ICG's website.

Kartesia describes itself as a specialist provider of financing solutions focused on European mid-cap businesses. The firm can invest between €10-50m – it can also fund and hold up to €100m with the support of its LPs. Kartesia invests across both the primary and secondary debt markets, and will also consider distressed situations.

The firm's maiden fund received a cornerstone investment from Groupe Bruxelles Lambert, a holding company controlled by the Belgium-based Frère family and the Desmarais family's Power Corporation vehicle.

GBL did not respond to requests for comment.

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