Ex-HIG Capital execs hit €120m final close for debut Hivest fund

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Fledgling French private equity house Hivest Capital Partners has hit a €120m final close for its debut fund.

The firm said it plans to make equity investments of between €5m and €25m using the vehicle, in businesses with sales of up to €500m.

Hivest launched the fund at the end of last year, and picked up 75 per cent of the total capital by institutional investors including Bpifrance, the European Investment Fund and Swen Capital Partners.

The firm was founded by former HIG Capital executives Axel Bonnassies and Cedric Lépée.

Bonnassies, who spent six years as a director in HIG’s Paris office, also previously worked for Bain & Company.

Lépée began his career at Lazard before moving to Qualium (formerly CDC Capital Investissement) in 2005.

He spent eight years with HIG’s Paris office, as principal and sector head for consumer and retail in Europe.

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