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Idinvest Partners nears €200m final close for new secondaries fund

14 Jan 2014

france_flag_170sqEuropean private equity firm Idinvest Partners is reportedly approaching a €200m final close for another secondaries vehicle following its 2010 spinout from German insurer Allianz.

The Paris-based firm initially hoped to raise between €150m and €200m when it launched the vehicle in early 2012, its website shows.

Idinvest plans to close the fund within the next few weeks according to Financial News, which cited people familiar with the matter.

They said Allianz had backed the new vehicle, the firm’s second secondaries fund raised since the spinout.

Last October Idinvest revealed it was almost two-thirds of the way to its €100m target for its Digital Fund II after holding a first close for the vehicle.

The new fund had received €60m of commitments according to Idinvest, which said Bpifrance had provided €15m alongside investments from Allianz France, blue chip insurance companies and family offices.

It added that Lagardère group would be an active partner in the fund, having invested €11m.

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