AGF closes €180m European FoF

The French private equity firm has held a final close of its third fund of funds, AGF Private Equity Holding.

AGF Private Equity, a subsidiary of French insurance company AGF has announced the final close of its third European fund of funds on €180 million ($234 million).

AGF Private Equity Holding (AGF PEH) is the successor to AGF’s previous fund of funds, AGF Capital Investissement I and II.

The investor base includes a number of French institutional investors, including insurance companies and retirement funds, according to a press release.

The vehicle will invest 60 percent of commitments in primary funds, 20 percent in secondary funds and 20 percent in LBO co-investments, according to the firm.

AGF PEH has already made 19 investments for more than 60 percent of the amount subscribed in a majority of primary LBO funds. The fund has also completed two secondary transactions and four co-investments in private equity backed companies Matéris, FPEE, Faiveley Transport and Libertel.

AGF Private Equity is a subsidiary of AGF Insurance, which is in turn a member of the Allianz Group. The firm manages an investment portfolio in excess of €1 billion through fund of funds and venture capital investments.

Since its inception in 1995 the firm has committed €800 million to 60 European funds and invests on average €100 million per year in private equity funds across Europe.