French FoF manager absorbs venture capital firm
Paris-based funds of funds manager A Plus Finance has integrated private equity and venture capital company Finadvance and has opened its first regional office in Marseille.
Finadvance has been co-founded in 1988 by Olivier Gillot and Jean-Michel Sibué. It focuses on LBO transactions and the development of French small and medium enterprises which value is comprised between €3m and €25m.
They have proceeded to over 70 deals.
As of 30 June 2016, A Plus Finance had around €615m of assets under management or advisory of which assets of institutional clients account for 30%.