21 Centrale promotes two amid fundraise

The French branch of 21 Partners, currently in market seeking €400m for its latest offering, has promoted two to partner.

21 Centrale Partners, the French branch of 21 Partners, has promoted Fabrice Voituron and Antonie Vigneron to partner, according to a statement from the firm.

Voituron joined 21 Centrale in 2012 as a principal, and has been involved in several of its transactions, including the acquisition of operational marketing company Impact and bakery ingredients distributor DGF.

Prior to joining 21 Centrale, Voituron spent 11 years at Omnes Capital as a principal in LBO and development, covering investment and exits, and fundraising.

Vigneron joined 21 Centrale in 2007 as an associate, and was promoted to investment manager in 2011 and principal in 2014. His involvement in the firm’s transactions includes the acquisition of pharmaceuticals business Synerlab, and stationery business Oberthur. Before joining 21 Centrale he spent five years with PwC, leading acquisition audits for investment funds.

The promotions come as 21 Centrale continues to raise capital for its fifth fund, which is in market targeting €400 million. It is unclear whether 21 Centrale Partners V has held a first close. The firm declined to comment on fundraising.

Its predecessor, the 2011-vintage, €380 million 21 Centrale Partners IV, made its final investment last September, acquiring operational marketing business Impact, as reported by Private Equity International. There is some capital remaining in the fund for follow-on acquisitions, it is understood.

21 Partners runs two other country-specific programmes: the 21 Investimenti funds in Italy and the 21 Concordia funds in Poland.

In February 21 Investimenti reached a final close on its third vehicle on its €343 million hard-cap, as reported by PEI. 21 Investimenti III launched in 2015 with a target of €300 million and held a first close in February 2015 on €220 million. The fund is larger than its predecessor, a 2008-vintage vehicle which closed on €280 million. The vehicle attracted commitments from both existing and new investors, with the majority of the capital raised in Europe, it is understood.

In September 2015 21 Concordia held a final close on its debut fund on its €100 million target, as reported by PEI. The fund includes a GP commitment of €1 million from the four managing partners, and has two cornerstone investors: the European Bank for Reconstruction and Development (EBRD) and the European Investment Fund (EIF). The fund is also backed by Polish state-owned bank Bank Gospodarstwa Krajowego (BGK), which has set up a fund of funds to invest in SMEs through private equity funds, as reported by PEI.