ERES acquired by EURAZEO

Groupe VYV has acquired a controlling interest in Groupe Patrimmofi, facilitating the exit of Andera Partners (via its Andera Expansion fund). This transaction follows a period of hyper-growth where the target quintupled its size and executed 18 strategic bolt-on acquisitions under the stewardship of private equity. The strategic rationale for the deal is the long-term institutionalization of the platform, shifting from a typical four-year investment cycle to a permanent capital structure provided by France's top mutualist insurer. This partnership is designed to accelerate the group's consolidation of the fragmented French wealth management market, targeting a tripling of Assets under Management from €3 billion to €10 billion by the end of 2029. For the management team, the entry of an industrial partner ensures the preservation of their "entrepreneurial association" model while providing the financial firepower to target larger, critical-sized firms. The deal was meticulously prepared through an anticipated exit process, ensuring a smooth transition to a partner capable of sustaining the target's high-speed expansion. This move highlights the growing trend of large insurance groups acquiring independent wealth management platforms to secure direct access to the high-net-worth savings and retirement market.

The transaction involves the acquisition of a majority stake in Groupe Allen by Qualium. The operation sees the exit of Parquest, which was a minority shareholder of the wealth management advisor since 2021. The deal is supported by a unitranche debt provided by Blackrock, which represents a leverage of 4.5 times the company's Ebitda. With Qualium's support, Groupe Allen aims to deepen its international footprint, particularly in European neighboring countries, and strengthen its Hedon Family Office division. The company targets an asset level of between 6 and 7 billion euros by 2030.

Apax Partners agreed to acquire the Professional Services business of Evelyn Partners. The transaction resulted from a competitive process where Apax outbid rival Bridgepoint. Upon completion, the business will be rebranded as S&W, returning to its historical roots. The strategic rationale for the carve-out is to allow both entities to operate as standalone businesses with dedicated management teams and specialized capital bases. Apax intends to use S&W as a primary platform to consolidate the fragmented UK accountancy mid-market through an aggressive M&A program. Evelyn Partners and S&W will maintain a strategic relationship to continue serving mutual clients.

Seven2 (formerly Apax Partners Development) has announced the signing of an agreement to acquire a majority stake in Olifan Group, alongside its management team. The transaction marks the exit of BlackFin Capital Partners, which had held a minority stake since 2021.

Crystal, a dominant player in the French wealth management and private banking sector, has announced that Goldman Sachs Alternatives, via its Private Equity team, has acquired a majority stake in the group. This high-profile transaction marks a new scaling phase for Crystal, with Seven2 (formerly Apax Partners) reinvesting to maintain a 25% stake alongside the management team.

Groupe Premium, a French leader in wealth management and insurance solutions, has secured a strategic investment from Blackstone via its Tactical Opportunities fund. Existing shareholders Eurazeo and Montefiore remain committed to the group, with Eurazeo retaining its majority position. This capital injection, supported by new debt financing, aims to accelerate the company's international expansion across Europe and fuel its ambitious organic and external growth strategy.

The investment by Activa Capital in Rhétorès Finance, coupled with the simultaneous acquisition of Cap Fidélis, marks the launch of a new consolidation platform in the French wealth management (CGP) sector. Activa Capital invested approximately EUR 10M to take a minority stake in a primary LBO, supporting the founders who remain majority shareholders. The strategic rationale is to transform Rhétorès from a Parisian-centric firm into a national leader through a disciplined build-up strategy, aiming to increase assets under management (AuM) from 450 to over 2000. The acquisition of Cap Fidélis, a historical player in Lille with 180 in assets, provides an immediate geographic expansion into Northern France and adds a stable, family-led client base of business owners. This operation is financed via a unitranche debt provided by Apera Capital. The partnership aims to complete four to six additional acquisitions during the investment cycle while modernizing the group's digital infrastructure to optimize relations with partners such as banks and insurers.

Astorg has successfully closed a €1.3bn dedicated continuation vehicle to acquire absolute majority control of IQ-EQ from its Fund V, marking the firm's first-ever continuation fund transaction. Following a heavily oversubscribed process managed by Lazard as exclusive financial advisor, Astorg secured a partnership with AlpInvest and Goldman Sachs Asset Management to lead this next development phase. To adequately capitalize this massive secondary operation, the deal structure includes substantial additional dry powder strictly engineered to fuel IQ-EQ's ambitious M&A roadmap and organic growth initiatives. This transaction allows the IQ-EQ leadership team and the Astorg deal team to make significant equity contributions, ensuring full alignment as the group aims to become the leading global firm in the investor services sector.

Andera Partners, a leading European private equity firm, has acquired a minority stake in Patrimmofi, a rapidly growing French private wealth advisory group. The transaction, completed in 2021, was carried out through Andera�s Expansion team (small-to-mid-cap fund) and marks a new phase of institutional backing for the firm, which was spun off from Primonial in 2016.

Eurazeo PME entered into exclusive negotiations to acquire control of Groupe Premium from Montefiore Investment. The transaction is characterized by an exceptionally strong management alignment: the team reinvested significantly (ticket of ~EUR80m) to retain 49% of the capital. Montefiore retained a minority stake. Eurazeo invested an equity ticket of approximately EUR100m. The financing was completed by a unitranche debt of ~EUR110m provided by Barings. The deal also expanded employee shareholding from 69 to 219 individuals. The strategy focuses on market consolidation (ongoing acquisition of FerriGestion) and expanding the physical network.