Ashurst LLP has advised the Amundi group and its subsidiary Amundi Private Equity Funds, in relation to the sale of the secondary fund SGAM Al Kantara LP. The fund was sold to Abraaj Capital which has taken over the management of the USD161m fund as well as absorbing the 11 member Amundi investment team.
The transfer of the management of the fund was made by the Amundi group’s sale of its holding in Société Générale Investment Advisor (Tunisia) and Kantara Investment Limited (Jersey). Amundi also sold its holding in the Carried Interest vehicle, Kantara Carried Interest SLP (Scotland).
With five existing investments in Morocco and Tunisia and pursuing an active pipeline of investment opportunities across North Africa, SGAM Al Kantara LP is a buyout and expansion capital fund, primarily focused on small and mid-cap investment opportunities in North Africa.
Amundi Private Equity Funds, a subsidiary of Amundi, specialises in private equity and unlisted infrastructure funds. It provides institutional and individual investors with a wide spectrum of investment opportunities, ranging from direct fund investments in unlisted French and foreign companies to dedicated mandates and funds-of-funds for multi-management private equity and infrastructure investments. With EUR690,5 billion under management, Amundi is one of the largest actors in the global asset management industry. Amundi has management offices covering the main financial centres in Europe (Paris, London, Milan), in Asia (Japan, Hong Kong, Singapore), in Australia and in the United States.
Ashurst advised Amundi and Amundi Private Equity Funds, with partners Yann Gozal and Xavier Comaills, assisted by Leslie Batazzi, Tiana Rambatomanga and Julien Rebibo (associates) on the corporate and funds aspects of the transaction.
Amundi and Amundi Private Equity Funds were also advised by Ogier Legal Jersey on the Jersey legal aspects (partner Michael Lombardi assisted by Niamh Lalor, Heather Hiram and Alan Stirling) and by Dundas & Wilson CS LLP on the Scottish legal aspects (partner Colin Lawrie assisted by associate Neil Daudney).
Clifford Chance advised the buyer on this transaction, with partner Nigel Clark in London, assisted by associates Jagdip Gujral and Nicola Dresh, partner Nigel Wellings in Dubai, and counsel Sue Palmer in Paris.
