Armen, an investment firm focused on acquiring stakes in private equity firms, has held the first close of Armen GP Stakes Fund I at €150 million in capital commitments, and secured a strategic minority investment from a group of French family offices
Armen, a investment firm focused on acquiring stakes in private equity firms, has held the first close of Armen GP Stakes Fund I at €150 million in capital commitments, and secured a strategic minority investment from a group of French family offices
Armen says the fund, which is targeting €400 million to invest in European alternative asset management firms managing up to €10 billion, attracted commitments from a diverse group of European investors including institutions, family offices and entrepreneurs.
The minority investment, which is subject to approval of the French financial regulator Autorité des marchés financiers (AMF), has been made by three family offices – the Dassault (Groupe Industriel Marcel Dassault), Faiveley (Issarts Capital) and Laine-Foriel-Destezet (Allegria Capital) families. Together, they will hold approximately 20% of the firm’s capital, with the Armen team retaining the remainder.
Financial terms of the transaction have not been disclosed.
