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Industries & Finances Partenaires beats target for third fund

7 Apr 2014

france french parisPrivate equity firm Industries & Finances Partenaires has beaten the target for its third fund.

The Paris-based firm has gathered €135m for its third fund, beating the €125m target and also exceeding the €110m raised for its Fund 2.

Industrie & Finance Investissements 3 will acquire majority stakes in companies with san enterprise value of up to €50m.

The firm is focused on the buy and build strategy and has developed 15 companies, most of which have made three to six add-on acquisitions, producing a return multiple of three times.

“The success of this fund‐raising, despite difficult market conditions, is the result of the team’s unique strategy, which it has followed since inception, with the support of loyal LPs,” said the firm.

“We believe we are the only French team and one of a handful of European firms with a dedicated focus on buy & build strategies.

“Our buy & build strategies not only create a lot of value for investors, but also contribute to the French economy, enabling the creation of strong intermediate‐sized enterprises (ISEs) from the consolidation of carefully‐selected SMEs.”

In January last year AltAssets reported that the fund hit a first close of €60m and was 85 per cent subscribed by LPs already present in the previous fund.

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