French manager seeding Sicav Emergence has launched a European equity compartment, Emergence Actions II, with the concourse of NewAlpha Asset Management.
Emergence Actions II seeks to raise around €300m towards large French and foreign institutional investors. Funds will go into a limited number of European equity strategies developed by entrepreneurial boutiques that have more than three years of existence and that are either based in France or have plans to set up in the country.
Emergence’s inflows into the funds of the managers selected by NewAlpha Asset Management will be comprised between €30m and €50m. The first closing of Emergence Actions II is due to occur in May 2017 while a second closing is planned for January 2018.
Emergence’s chairman Alain Leclair said Emergence Actions II should enlarge the circle of institutional investors seeding the strategies selected.
The seeder’s first equity compartment Emergence Actions I, launched in 2012, has raised some €200m from French institutional investors.
A total of six equity strategies have been seeded from Fidéas Capital, Focus Asset Managers, Finaltis, Financière Arbevel, La Financière Responsable, Talence Gestion.
Emergence added total assets under management of the companies picked in the compartment have doubled between 2012 and end 2016.
Antoine Rolland, president of NewAlpha AM, said 170 of the 450 entrepreneurial boutiques tallied in France are running European equity funds with average AUM of €230m.
He specified that some 30 strategies are already being analysed for an eventual integration to Emergence Actions II.