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ING Groep eyes sale of French private equity unit stake

8 Nov 2013

France French Flag sunDutch financial services giant ING Groep has reportedly hired advisors to sell its stake in its French private equity unit ING Parcom.

Bids for the business are expected in January according to Bloomberg, which cited two people with knowledge of the matter.

They said Lazard had been hired to run the sale of Parcom, which has about €150m of the €300m provided by sole investor ING to make deals.

Earlier this year ING’s German buyout unit was spun out from the company amid hitting the €350m hard cap for its second fund.

The renamed Deutsche Private Equity bought itself out from a joint venture with Parcom through the fundraise, which more than doubled its assets under management following its €250m debut offering.

DPE said it planned to continue investing in companies headquartered in the DACH region of Germany, Austria and Switzerland.

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