The French private equity fund of funds manager with total assets of EUR 570 million is currently fundraising for BNP Paribas European Private Equity III, which has a target of EUR 220 million. The vehicle is a successor to Fundexi Europe II, which closed in 2005 and was fully committed to 27 underlying vehicles by mid-2008.
BNP Paribas European Private Equity III held a first close on EUR 67 million in the summer of 2009, according to Preqin’s contact at the firm. It is looking to invest in private equity funds focusing on different regions in Europe, including Central and Eastern Europe. In terms of fund strategy, it will focus on both venture capital and buyout funds. BNP Paribas European Private Equity III will consider committing to first-time funds and sponsoring emerging managers with potential but will not have a specific industry preference. Its typical bitesize ranges from EUR 7 million to EUR 10 million.
In November 2009, BNP Paribas European Private Equity III had made two underlying commitments and anticipated investing a further EUR 35-70 million across 7-10 funds over the coming 12 months.
For more information on private equity fund of funds managers, as well as all types of institutional private equity investors, please see how Investor Intelligence can assist you.