Idinvest closes latest debt fund on €400m

Although the fund significantly exceeded its target, it was originally expected to reach a final close by the end of 2014. The vehicle held a first close on €235m in Q3 last year.

Investors
The fund has received commitments from French and international investors, including banks, insurance companies, pension funds, mutual insurance companies and family offices. According to Idinvest, this is the first time one of its fund has attracted a majority of non-French LPs.

Investments
The fund will focus on mid-sized European companies, investing to support growth or buyouts. It will look to invest between €5-40m for mezzanine and unitranche deals, as well as purchasing secondary mezzanine debt.

The fund has already completed 11 investments throughout Europe, including Park & Suites, J&S Automotive Technology, Maxeda and Axelliance.

People
Christophe Bavière is chairman of Idinvest and François Lacoste is a partner at the firm.

 

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• IDInvest Partners (AGF Private Equity)