ACG Capital affiliate ActoMezz has held a final close on FPCI Acto Mezzanine II raising €210 million and surpassing the initial target of €200 million, the firm said in a statement.
The Paris-headquartered manager has built its investor base in the process, gathering equal proportions of existing investors and new partners comprised primarily of insurance companies, funds of funds and banks, as well as family offices and high–net–worth individuals.
Acto Mezzanine II will invest €5 million to €45 million in companies with enterprise values ranging from €20 million to €150 million, as arranger in mezzanine and minority equity via three types of transactions: sponsorless, growth mezzanine and sponsor-backed.
Eight investments from the fund have been realised already, totalling €70 million. ActoMezz did not respond to a request seeking additional comment.
Stéphane Bergez, managing director of ActoMezz, said in a statement: “We are delighted to have successfully raised this fund, which gathers our historical investors, new partners and a strongly involved investment team around a common objective of backing SMEs. ActoMezz is more than ever a key player of mezzanine in France.”
Wladimir Mollof, chief executive officer of ACG Capital, added: “This achievement comforts the pertinence of our differentiated positioning and is a key step on the way to future success.”
Six investment professionals form part of the ActoMezz team. Since 2007 they have pursued a strategy consisting of supporting French small to medium sized enterprises willing to reinforce the equity structure and in backing management teams wishing to enhance their capital stake.
The firm held a first close on €150 million for Acto Mezzanine II in September 2014.
ActoMezz is the mezzanine investment team of private equity firm ACG Capital with close to €400 million under management, specialised in partnering with management teams wishing to take control of their company in a secondary transaction. ACG Capital offers primary and secondary funds of funds as well as mezzanine direct funds.
ACG has €2.2 billion under management through 24 investment funds.
Jasmin Capital and Montpensier Finance assisted ACG as placement agents and King & Wood Mallesons acted as legal advisor.