Franco-German financial group Oddo BHF has closed on the acquisition of private equity firm ACG Capital focused on primary and secondary private equity funds of funds.
Last August, Oddo BHF entered into exclusive negotiations with ACG as it targeted to acquire their subsidiary.
ACG Capital holds all assets of Groupama Private Equity, a subsidiary of French mutual insurance group Groupama, it purchased in 2013. It manages €2.2bn in assets across 25 funds.
In the aftermath of the deal, ACG will refocus on direct investments in non-listed companies, particularly through the ACG Management investment company.
Oddo BHF tallies more than €100bn in AUM.
'Excellent growth opportunity'