Mirabaud AM launches private equity business

Swiss investment firm Mirabaud Asset Management has launched a private equity business and has appointed former French minister Renaud Dutreil as head of Private Equity to lead it.

Under Jacques Chirac’s presidency (2002-2007), Dutreil has been a former minister of Small & Medium-Sized Businesses, Commerce, Consumer Affairs, and Crafts and Liberal Professions. He also served as chairman of LVMH North America for four years.

Dutreil will be supported by Luc-Alban Chermette. Chermette has held various positions in the private equity field such as chairman of La Vélière Capital between 2010 and 2016.

The first fund dedicated to living heritage companies (entreprises du patrimoine vivant) in the luxury and lifestyle sector has been launched and reached a first closing of €50m coming from top-tier private and institutional investors.

The fund targets family-run SMEs that have been active not only in France but also in Switzerland, Italy and other European countries for at least 50 years. Mirabaud AM will contribute to their international development and their innovation strategy.

The second and final closing of the fund is to occur at the end of the year when a total amount of €150m will raised.

Lionel Aeschlimann (pictured), managing partner of Mirabaud Group and CEO of Mirabaud Asset Management, said: “It is extremely satisfying to develop a sector of activity in which we have bold ambitions and which suits us. In addition, in Renaud Dutreil we have found a top-quality professional who through his international experience, his creditability within the economic fabric of French and European SMEs, and his passion for the world and spirit of entrepreneurship will help us to offer our clients – families, entrepreneurs and institutions – first-class solutions in the field of private equity.

“This first theme-based product dedicated to patrimoine vivant has attracted a great deal of interest and the success of the second and final closing is already taking shape.”

Commenting on the fund launch, Dutreil said: “Mirabaud Group has all the characteristics investors are looking for: an international presence on a human scale, a clear and specialized positioning, a proactive management approach, a passion for investing, entrepreneurship and the business world in general, a real long-term vision, and a DNA that puts excellence and the alignment of interests at the heart of its value chain.

“For Luc-Alban and myself, working with Mirabaud and its almost 200 years of family and entrepreneurial history in the world of management and investment was the obvious choice. The industrial living heritage has always been my passion. In my time as minister I was instrumental in the creation of the entreprise du patrimoine vivant label. As an investor I am determined to give these European flagships all the necessary means for a successful future.”

Adrien Paredes-Vanheule
Adrien Paredes-Vanheule is deputy editor and French-Speaking Europe Correspondent for InvestmentEurope, covering France, Belgium, Geneva and Monaco. Prior to joining InvestmentEurope, he spent almost five years writing for various publications in Monaco, primarily as a criminal and financial court reporter. Before that, he worked for newspapers and radio stations in France, in particular in Lyon.

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