Credit Agricole Private Equity, the private equity arm of Credit Agricole, is launching a co-investment platform taking minority stakes alongside European and North American funds.
Two new funds have already each received an allocation of EUR 50m (US$72m), with one sponsored by Credit Agricole and the other naming Credit Agricole's insurance company Predica as an investor. The fund will invest in mid to large-scale leveraged buyouts and development capital deals with an investment capacity of EUR15m per transaction.
Credit Agricole's previous investment activity includes investing alongside The Carlyle Group in its EUR 1.1bn acquisition of French telecom Numericable from existing shareholders Altice and Cinven in March of this year, and the purchase of a 23% interest in Balitrand, a distributor of building fit-out supplies, as part of a Weinberg Capital Partners LBO in July.
The firm said that further investments are expected before the end of 2008.
Source: Thomson Merger News