BNP Paribas Capital Partners Raises €333M For Third PE Fund of Funds

Nov 16 2016 | 8:15pm ET

BNP Paribas Capital Partners has announced the final closing of its third-generation private equity fund of funds, raising €333 million and significantly exceeding its original target of €250 million.

The new fund, named Fundexi IV, will focus on European buyout, growth capital and technology funds, the company said. Limited partners include European institutions, family offices and clients of BNP Paribas Wealth Management, with the majority being new investors.

Fundexi IV is a continuation of the investment strategy launched in 2005 and implemented through the first and second-generation funds of funds. It invests in small and midcap buyout, information technology and life sciences funds, both through primary commitments and secondary transactions.  The fund selects emerging managers who are raising first or second-generation funds, along with established players. 

The new vehicle has already completed 14 primary and secondary commitments in European buyout and technology funds, BNP CP added.

“We are particularly pleased with the very favorable reception that Fundexi IV has received,” said Jean-Marc Rivet-Fusil, head of private equity funds of funds and BNP CP CIO Stéphanie Egoïan, in a statement. “This success demonstrates the relevance of our investment strategy, which we have successfully implemented for over 10 years."

BNP Paribas Capital Partners is the alternative investment selection specialist for BNP Paribas Investment Partners, BNP Paribas Group’s asset management specialist with assets under management and advisory of €532 billion as of 30 June 2016.

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