Activa promotes four to partner

The Paris-based firm has expanded its partnership as it continues to invest its third fund.

Paris-based mid-market firm Activa Capital is opening up its partnership to include three new partners and an operations partner, according to a statement from the firm.

Pierre Chabaud, Alexandre Masson and Benjamin Moreau have been appointed partner, and Jean-François Briand has been appointed operations partner. The four will join current partners Charles Diehl, Michael Diehl, Philippe Latorre and Christophe Parier.

Chabaud joined Activa in 2009 having previously spent five years in management consulting at Bain & Company and Arther D. Little. Masson, who joined Activa as operating director in 2012, after spending six years as a director at Alvarez & Marsal where he conducted operational and financial improvement assignments on behalf of private equity firms and family-owned companies. Moreau joined the firm in 2006 following four years in transaction services at PricewaterhouseCoopers and one year at BNP private equity.

Briand joined Activa in 2011 as an operating director, prior to which he spent seven years at Brake France, most recently as operations director.

The appointments come as Activa continues to invest its third fund, which closed in December 2015 on €205 million. The vehicle came to market in June 2013 targeting €320 million and held a first close on €200 million at the end of 2013, as reported by Private Equity International.

Activa has made two investments from the vehicle, acquiring label producer Alliance Etiquettes in December and investing in aerospace subcontracting business Mecadeq Group in January.

The fund’s predecessor, the 2007-vintage Activa Capital Fund II, closed on €320 million, according to PEI Research & Analytics. The fund has begun exiting, including selling speciality HR recruitment company Ergalis to Groupe LFPI, which netted the firm a 2.6x return and an internal rate of return of more than 30 percent.