AGF aims for 350m Fof

AGF Private Equity, the Paris-headquartered affiliate of AGF/Groupe Allianz, has launched its fifth offering to private equity investors through AGF Private Equity Holding V – Europe, a €350m fund of fund aimed at the European mid-market.

The fund’s investment remit includes primary fund positions as well as secondaries and co-investments, and its launch follows just a few months on from the closing of its fourth fund of funds, a €380m structure divided into two parts with €310m covering the whole of Europe and €70m set aside just for investing in France. The European part closed in October last year and is already 70% committed.

Its new fund of funds will continue to invest mainly in local funds dedicated to a single European country but will have some capacity to invest in pan-European vehicles.

Last year also saw AGF raise its tenth venture capital fund, AGF Innovation 8, a €26m fund focused on the early-stage European market. The venture capital team has invested in more than 50 companies to date. It invests €15m to €30m every year in young companies with high potential according to an extremely selective methodology. The VC team manages over €275m.

The venture team has made one exit this year, selling its stake in optical fiber operator Erenis.