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Alternative Market Briefing

Andera Partners beats $562m hard cap for the fourth mezzanine fundraise despite coronavirus crisis

Tuesday, June 30, 2020

Laxman Pai, Opalesque Asia:

French investment firm Andera Partners has held a first and final close for its fourth sponsorless mezzanine debt fund at €500m ($562m), beating the original €450m hard-cap.

Despite the COVID-19-driven slowdown in a fundraising activity, the ActoMezz IV fund surpassed its target within 16 weeks, said a press release from the player in unlisted investment in France and abroad.

The new vehicle is also 60% larger than its predecessor, which raised €315m in July 2017.

"Investors in ActoMezz III showed strong support for the team and its strategy through a re-up of more than 110%. Ten or so new leading French and international institutional investors also backed ActoMezz IV and its sponsorless model of supporting management teams seeking to maximize equity stakes in their own companies," said the release.

The ActoMezz team has raised more than €1 billion in total over the last six years. Its funds target and generate an annual performance of more than 10% net.

Stιphane Bergez, Co-manager of Andera Partners and Managing Partner of ActoMezz, said: "We are very proud to see a re-up of more than 100% of our existing clients for this new vehicle - and to welcome more major investors. This success is the fruit of a solid and consistent strategy that the same team has led with discipline and enthusiasm for 15 years and which is now recognized as unique in sponsorless mezzanine investment in Europe."

ActoMezz strategy targets inv......................

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