New chief at AGF Private Equity

Christophe Baviere has replaced Antoine Valdes as chief executive in charge of private equity at French Insurer AGF.

Christophe Baviere has been appointed chief executive of AGF Private Equity, the private equity division of the French insurer which makes both direct and indirect private equity investments.

Baviere takes over from Antoine Valdes who has left the company alongside Francois Paumelle.

The new CEO said AGF plans to raise a new fund later this year to invest directly in IT, biotechnology and life science. The group's first fund raised approximately FF300m.

Baviere said a new fund of funds was also on the cards.