Oddo BHF Private Equity Secondaries Fund closes on €358m

Alessia Argentieri
08 July 2020

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Oddo BHF Private Equity has closed its secondaries fund on тЌ358m, exceeding its initial тЌ300m target.

The fund was launched in July 2018 and held a first close on €160m in November 2018, supported mainly by French and German investors.

Oddo BHF Private Equity offers primary and secondary funds to institutional investors, corporations, family offices and private clients. It manages €2.3bn in assets through 25 investment funds.

The private equity firm is part of the Oddo BHF group, which has 2,300 employees (1,200 in Germany and Switzerland, and 1,100 in France and Tunisia), and more than €110bn in assets under management.

The group operates in three main business areas: private banking, asset management, and corporate and investment banking. Around 65% of its capital is held by the Oddo family and 25% by employees. In 2019, Oddo BHF generated net banking income of €585m and reported €890m in shareholders' equity.

Investors
The fund raised commitments from Oddo BHF's historical investors, as well as new partners attracted by the team's approach and strategy, according to the firm.

"We are convinced that the private equity secondary market will continue to be a source of new opportunities," said Jérôme Marie, co-manager of the fund.

Investments
Oddo BHF Private Equity Secondaries Fund has a focus on secondary transactions ranging from €5m to €50m. It invests globally, primarily targeting European and North American mature and cash-generative assets, with strong potential for value creation.

The vehicle has already completed eight transactions worth nearly €80m for European and US assets.

People
Oddo BHF Private Equity – Nicolas Chaput (chair); Jérôme Marie (co-manager).