Insurance Companies in France Demonstrate Their Commitment to Private Equity

by Joe Childs

  • 24 Nov 2009
  • PE

CNP Assurances, Prédica and BNP Assurances are among the limited partners in the recently closed private equity fund, Winch Capital 2. The France-based insurance firms are joined by compatriots MACSF and Crédit Mutuel Arkéa as investors in the €250 million expansion-stage fund, which is managed by LCF Edmond de Rothschild Private Equity.

The prevalence of insurance companies in the fund’s investor base, which also includes Zurich-based insurer Swiss Life, supports the findings of a recent survey conducted by Preqin. The survey found that 68% of insurance companies investing in private equity plan to make commitments to the asset class in 2009 or 2010, while over a quarter of respondents intend to increase their exposure to private equity in the period Q3 2009 to Q3 2010.

A number of the insurance companies committing capital to Winch Capital 2 were named as first-close investors earlier this year, when the vehicle held an interim close at the end of June having secured commitments totalling €175 million. A number of private equity funds of funds have also committed to the fund, including vehicles managed by OFI Private Equity, AGF Private Equity, Dahlia Partners, SGAM Private Equity and CDC Entreprises.

For more information on investors in private equity, please see Preqin's Investor Intelligence database.

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