On the initiative of Andera Partners, which is creating its sixth business, and in partnership with Compagnie Lebon, which is pursuing its strategy of expanding in private equity, this new co-investment fund targets mid- and large-cap deals in France, Europe and the United States

Andera Partners, a leading independent asset management firm operating in private equity, has launched a co-investment fund, Andera Co-Invest. One year after the launch of Andera Infra, the creation of this sixth activity enables the asset management firm to pursue its growth strategy.

Compagnie Lebon, a partner in the fund through the launch of its co-investment activity PMCI (Paluel-Marmont Co-Invest), is pursuing its strategy of expanding in the private equity arena. The new PMCI offering extended to its partner investors complements the private equity transactions of Re-Sources Capital, focusing on French regional small-caps, as well as real estate opportunities via Paluel-Marmont Valorisation.

Andera Partners and Compagnie Lebon rely on the expertise of two Advising Partners, Louis Hamon and Alexander Cuniasse, to source and select the best deals in France, Europe and North America. With 20 years of accumulated experience in the co-investment segment alongside leading European and North American private equity funds, Louis and Alexander previously led Essling Capital’s co-investment activity, before setting up their consulting firm AXL Capital Partners. Louis and Alexander are supported by Nicolas Paulmier as Senior Advisor and Chairman of the Advisory Committee. Formerly a manager at Cinven, Nicolas is a highly reputed investor with over 30 years’ experience in private equity.

The fund will also benefit from the well-established expertise and track record of Andera Partners and Compagnie Lebon in private equity.

This first co-investment fund with a target size of €100 million and a short investment period (12 to 18 months) incorporates environmental and social investment criteria (Article 8). It targets ticket sizes from €10 million to €20 million, for LBO transactions in the mid- and large-cap segments.

In terms of investors, this new activity is intended in particular for private investors and family offices. Compagnie Lebon has made a capital commitment of €15 million to this initial fund.

Louis Hamon and Alexander Cuniasse: “We were attracted by Andera Partners’ unique model and strong momentum, and are delighted to contribute our co-investment expertise to develop the Andera Co-Invest activity. Our partnership with Compagnie Lebon through the launch of PMCI is a sign of trust, which highlights the value of this vintage fund programme and the confidence in our track record.”

Sylvain Charignon and Raphaël Wisniewski, partners and co-managers at Andera Partners: “We are pleased to create this new business with Louis and Alexander, with Compagnie Lebon alongside us. Andera Co-Invest is complementary to and consistent with our other activities: co-investment will provide diversification in terms of sector, region, transaction type and asset class. All the conditionswere met to launch this new fund: good timing in the private equity market, meeting the right people and the collective strength that is close to our company’s heart.”

Philippe Aoun, CEO of Compagnie Lebon: “We share complementary experience with Andera Partners and a common vision of the investment business. In addition to our confidence in this value creation model and in the co-investment expertise of Louis and Alexander, this partnership also gives our private partners access to leading international mid- and large-cap transactions with accessible entry tickets and a short investment cycle.”

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