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Caisse des Dépôts, CDB partner for €150m growth fund

6 Sep 2012

The investment arms of the Caisse des Dépôts and China Development Bank (CDB) have partnered for a €150m growth fund that will help French and Chinese SMEs to expand abroad.

CDC Enterprises and CDB Capital have contributed equally to the vehicle, which will be managed by Cathay Capital Private Equity.

The pair said the fund would facilitate the emergence of SMEs on an international level, an extension of the cooperation initiated under the Long Term Investors Club.

“The launch of this first SME Franco-Chinese fund corresponds perfectly with the aim of CDC Enterprises and CDB Capital, whose duty is to finance growing businesses,” said CDC chief executive Jean-Pierre Jouyet.

“Our partnership is based on a strong common ambition and a strategic long-term vision: to encourage the globalisation of our SMEs, a task which is not possible without strong, close reciprocal cooperation and operational accompaniment over time.”

The fund will be invested equally between French and Chinese businesses with a turnover of between €10m and €200m with high growth potential.

It is the first fund of its kind, investing both Chinese capital in France and French capital in China.

Several investment opportunities have already been identified and should be announced shortly.

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