London-headquartered venture capital firm Bridgepoint has entered into exclusive talks with the shareholders of French financial group Primonial (Crédit Mutuel Arkéa, Blackfin Capital Partners, Latour Capital and Primonial’s management) in order to purchase a 50% majority stake in the capital of Primonial.
Blackfin Capital Partners and Latour Capital would eventually sell their shares to Bridgepoint while Crédit Mutuel Arkéa, a partner of the group since 2011 and a shareholder since 2014, would hold a 35% stake to support the group’s development.
Among others, the transaction will aim to strengthen Primonial’s asset management and IFAs businesses in France and to develop them outside France.
The Primonial’s asset management business, Primonial Investment Managers, gathers Stamina AM, Roche-Brune AM and AltaRocca AM. It posted inflows of €268m for the first nine months of 2016.
Primonial group’s net inflows for the first nine months of the year were reaching €4.5bn AUM. The company expects gross inflows exceeding €5bn at the end of 2016.
As of 30 September 2016, some €16bn were managed or advised by Primonial.
Bridgepoint has completed some €25.7bn of transactions since 2000 from €10.4bn invested. Former asset and real estate managers it has invested in include Tilney, Quilter Cheviot and Foncia.