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Paris private equity firm Idinvest raises €100m for secondary fund

7 Sep 2012

Paris-headquartered private equity firm Idinvest Partners held a first closing for its dedicated secondaries vehicle, Idinvest Secondary Fund, on €100m.

The fund’s investors comprise European financial institutions, one third of which are new LPs, according to Christophe Bavière, CEO of Idinvest Partners.

“This new fund is fully in line with our secondaries strategy and meets the expectations of our historic investors who appreciate our investment style. Our strategy consists of focusing on small to medium-sized European companies with solid fundamentals. In the current economic context, investment funds play a major role in overcoming the lack of financing which plagues small to medium-sized companies.”

Secondary transactions have been part of Idinvest Partners’ core strategy for almost ten years, Bavière said. The firm targets small to medium-sized transactions which fly under the radar of large investment funds.

On the heels of the first closing, Idinvest Secondary Fund has already invested in and supported the development of companies such as Innovia Films, Moncler and Edenred, continuing the activities of its previous funds which had taken over from other investors to support and develop companies including French energy company Converteam, German plastic connections company FEP, Dutch optics network Hans Anders, and UK’s number one cosmetic brand Simple.

In 2012, Idinvest Partners has already invested nearly €175m, including €50m across five secondary transactions, and boasts a circa 23 per cent average purchase discount. Formerly part of the Allianz Group, the firm was founded in 1997 and became independent in May 2010, with a back-up of the IDI Group

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