European low and mid-market investor Idinvest Partners has reached a first closing for its new investment vehicle which is exclusively dedicated to secondary transactions. The Idinvest Secondary Fund. The fund has so far secured 100 million euros ($127.8 million) in commitments.
Idinvest Partners, a European leader in private equity, has announced the first closing for its new investment vehicle which is exclusively dedicated to secondary transactions: Idinvest Secondary Fund. The fund has already received 100 M€ in commitments. The fund’s investors are European financial institutions, one third of which are new LPs.
Christophe Bavière, CEO of Idinvest Partners, declares: “This new fund is fully in line with our secondaries strategy and meets the expectations of our historic investors who appreciate our investment style. Our strategy consists of focusing on small to medium-sized European companies with solid fundamentals. In the current economic context, investment funds play a major role in overcoming the lack of financing which plagues small to medium-sized companies.”
Secondary transactions have been part of Idinvest Partners’ core strategy for almost 10 years. In line with this investment strategy, Idinvest Secondary Fund targets mature, proprietary and small to medium-sized transactions which fly under the radar of large investment funds, while displaying a significant discount. All investments aim at healthy European companies which show strong growth potential. On the heels of the first closing, Idinvest Secondary Fund has already invested in and supported the development of many European companies such as Innovia Films, Moncler or Edenred. This is in continuity of previous funds which had taken over from other investors to support and develop companies including Converteam, a French leader in energy conversion, FEP, a German leader for plastic connectors, Hans Anders, a Dutch optics network, or Simple UK’s number one cosmetic brand.
In accordance with Idinvest Partners’ values, the fund respects ESG criteria.
In 2012, Idinvest Partners has already invested nearly 175 M€, including 50 M€ across 5 secondary transactions, and boasts a circa 23 % average purchase discount.
About Idinvest Partners
With more than €3 billion under management, Idinvest Partners is a leading Pan-European private equity manager focused on the low and middle market segments. The company has developed several complementary areas of expertise including investments in young innovative European companies, primary, secondary and mezzanine investments in European non-listed companies, and private equity consulting. Formerly part of the Allianz Group, the firm was founded in 1997 and gained its independence in May 2010, with a back-up of the IDI Group