Idinvest Partners Raises €350M For Third Secondaries Fund

Sep 12 2016 | 6:37pm ET

European private equity investor Idinvest Partners has held a first close on its third secondaries fund at its initial target of €350 million. 

Ininvest’s new fund, named Secondary Fund III, is following its predecessor in focusing on mature secondary transactions in the European small and mid-market. The fund has already completed its first transaction, according to the company, and it expects to hold a final close on the vehicle later this year at a total of €400 million.

Idinvest’s preceding fund, the 2014-vintage predecessor Secondaries II, closed at €228 million and is now fully invested across 17 transactions.

 “We are very grateful for the support shown by our investors [and] are pleased to have attracted new institutional investors and family offices across Europe, North America and the Middle-East,” said Christophe Bavière, CEO of Idinvest Partners, in a statement. “In a challenging environment where LPs are reducing their investment relationships, investors have nevertheless responded well to our disciplined strategy, mid-market focus and consistent track-record.  

Founded under the name AGF Private Equity in 1997, Idinvest Partners was formerly part of Allianz until 2010 when it joined forces with IDI as an independent firm. The company manages more than $6.5 billion in assets.

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