Natexis Groupe, the product of last year’s merger between BFCE and Credit National, has completed the rearrangement of the combined group’s private equity investment units.
Shareholders in Financiere Saint Dominique, Credit National’s private equity arm, agreed its change of name to Financiere Natexis in December.
This new entity comprises a lead unit, Financere Natexis, which will handle larger buyouts and buy-ins valued at FFr 250 million (ecu 38 million) or more, special situations and co-investments outside France.
Financiere Natexis also acts as an umbrella company for a number of specialised subsidiaries: Natexis Investissement, which combines the FSD Capital Developpement and SF-BFCE development capital businesses; Sofinindex, the smaller company development capital operation that was majority owned by FSD; and Initiative & Finance, FSD’s smaller buyout business.
Financiere Natexis also manages the European Pre-Flotation Fund (EPF) and co-manages the FFr 450 million Euromezzanine fund with Banexi.
FSD held a 37% stake in the early-stage investment group Sofinnova prior to the recent buyout (story, page TK); for the time being, it retains a small minority holding in the new management company, Sofinnova Partners.
Altogether, including co-managed funds, Financiere Natexis has FFr 5.2 billion (ecu 785 million) and a portfolio of 250 investments under management.
The restructured operation is chaired by Natexis Groupe’s general manager, Dominique Ferrero. Herve Schricke, who succeeded Denis Mortier at FSD, is chief executive officer and Jean Duhau de Berenx senior executive vice president.