French fund of funds manager AGF Private Equity has announced the final closing of its third fund of funds, AGF Private Equity Holding, at €180m. The investor base includes French institutional investors, including insurance companies, retirement funds and other financial institutions.
‘The fund was closed in light of the strong performance of the initial investments, which should lead to distributions early this year,’ the firm said in a statement.
AGF Private Equity Holding’s strategy is to invest 60 per cent in primary funds, 20 per cent in secondary transactions and 20 per cent in co-investments in LBOs.
AGF Private Equity, a subsidiary of the AGF insurance company, which is a member of the Allianz Group, manages an investment portfolio of more than €1bn for institutional and private investors through funds of funds and venture capital investments.
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