iM increased its assets under management by 65% last year to $19bn, of which 46% was organic growth.
IK Investment Partners and Luxempart said they hope to bring iM’s assets under management to more than $100bn within the next five to seven years.
Eurazeo has agreed to sell about 20% of iM’s capital for proceeds of about €70m – a cash-on-cash multiple of 2.1x and an IRR of 22%.
Dassault/La Maison, a shareholder from the outset, is also selling its stake.
Thomas Grob, partner at IK Investment Partners and advisor to the IK Partnership Fund, said, “We were impressed by the growth trajectory, quality of the teams, international nature and development project of iM Global Partner.”
Last month Eurazeo revealed it was launching a new infrastrucure fundraise after creating a new team specialising in the asset class.
The team will invest in sectors supporting “the numerous underlying changes currently taking place in Europe”, Eurazeo said, including “the necessary shift to renewable, low-carbon and competitive sources of energy, as well as digital technologies in which data will help drive the economy and lead to a more efficient use of real assets”.
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