Approach

• LBO Small Cap
  We take controlling interests in companies valued at less than €100m. We then launch a major drive to add value and boost growth in these companies led by our local staff in Germany, Italy and all countries with a local office, as well as in France.
• Expansion Capital
  Investment via minority interests, which are protected by shareholders pacts, liquidity commitment etc, in mature and profitable companies. The deals may involve us committing up to €40m per transaction (and up to €100m with co-investors). To a limited extent, we invest in listed companies on secondary markets such as the Second Marché and the Nouveau Marché.

Criteria

• Leadership in the company’s domestic market or real potential to be leader.
• High skills of the management team.
• Strong desire for Co-Investment by local management to incentivize them in the results and liquidity objectives of the equity.
• Ability to invest up to €40m per transaction.
• No sector preference excluding real estate, financial services and so-called sensitive sectors (defence, tobacco, etc.) in which AXA Private Equity has committed not to invest in accordance with our Corporate Responsibility Charter.
• Clearly defined objective for the fund to pull out within an average period of five years, established in agreement with the local management.

Geographical sectors

• France, Germany and Italy