European Euromezzanine Wraps E175M First Close –

Euromezzanine Conseil expects to take its Euromezzanine III fund to e250 million, following a e175 million first closing at the end of last year. Like its predecessors, the vehicle is sponsored by Euromezzanine’s co-founders – BNP Paribas and Natexis Banques Populaires – each of whom will hold 20% of the new fund. Five unidentified foreign institutions have signed up for Euromezzanine III, as well as French investors. Euromezzanine Conseil said these investors were selected to strengthen the fund’s European development.

Through the new fund, Euromezzanine Conseil will arrange mezzanine fundings of up to e80 million.

Ten-year-old Euromezzanine Conseil, a joint venture between BNP Private Equity and Financiere Natexis Banques Populaires, has participated in 52 deals to date, providing an aggregate of e240 million. Last year, Euromezzanine arranged six mezzanine fundings worth a total of e154 million, including deals for Aubret, CNN, SSNA, CCMX, Autodistribution and an expansion funding for Daher.

The group also participated in an expansion round for Oberthur Smart Cards. The aggregate e60 million Euromezzanine invested on its own account in the seven companies was transferred to Euromezzanine III’s portfolio on the first closing.

Euromezzanine Conseil manages a total of FFr 1.8 billion; its five-strong management team is headed by Guy Fabritius and Louis Vaillant.