Bryan, Garnier & Co, an investment bank for European growth companies, has launched a new team dedicated to direct secondaries within its private capital markets group. The new team will be led by David Laroque and Pierre Leroy, who co-founded the boutique NotSoLiquid in 2021.
According to a press release, the new team will address an “evolving need for liquidity” as European VC exit activity reaches its lowest point in a decade, with industry-wide cash distributions hitting a 14-year low and fundraising activity tapering off to pre-pandemic levels.
The firm has advised on more than $400m in secondaries for shareholders and employees in growth and pre-IPO companies including Revolut, Stripe, Algolia, Payfit, Ledger, Indy, Klarna, Spotify and Lyft, according to a press release. Bryan Garnier has also provided direct secondary European deal flow to institutional investors including Tiger Global, Permira, Hambro Perks and Revaia.
Bryan Garnier has a European private capital raising practice as well as an active ECM operation for European growth companies across European and US equity markets.
In a statement, Laroque said: “Bryan Garnier’s corporate advisory and trading platform, alongside the IRIS research department covering both private and publicly listed stocks, amplifies our investor reach and deepens our industry knowledge and capacity. This strategic synergy will empower us to provide expert guidance – all of which will push our capabilities to the next level.”
