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Press release

ERAFP awards a Private Equity mandate

  • 9 January 2017
Financial management
Paris, 10 January 2017 – Under its Investment Policy, which aims notably, for the purposes of diversification, to contribute to the financing of the French and European economies, the French public service additional pension scheme (ERAFP) has recently awarded a Private Equity portfolio management mandate.

In January 2016, ERAFP launched a restricted call for tenders to select managers to invest in unlisted private equity assets. Following the selection process, ERAFP has decided to award the asset management mandate to Access Capital Partners.

ERAFP’s dedicated fund will invest primarily in unlisted European mid-market companies through growth capital or buyout transactions or, to a lesser degree, mezzanine or unitranche financing. It will make these investments mainly through primary or secondary funds.

The fund will aim, through various macroeconomic cycles, to deliver a recurring return and capital gains while minimising the asset class’ specific financial risks.

Most of the unlisted European SMEs and mid-sized businesses in which the fund invests will have their registered office in France, Germany, the Benelux countries, the United Kingdom, Finland, Sweden, Denmark or, to a lesser degree, Italy, Spain, Portugal or other OECD countries.

By way of indication, the amount initially awarded under this mandate will be around €200 million.

The length of the initial mandate is ten years; ERAFP may extend the contract for two successive two-year periods.