Bryan Garnier Principal Investments and Saints Capital launch a strategic partnership focused on offering liquidity solutions in France to corporate, institutional and independent private-equity asset managers.
Paris, January 16th 2012 - Bryan Garnier Principal Investments (BGPI), the AMF regulated private equity arm of growth capital Paris-based investment bank Bryan, Garnier & Co, and Saints Capital, the leading global secondary-direct investor, launch a partnership to offer liquidity solutions to the French private equity market. Target transactions will be between €50 million and €500 million across all asset types and stages.
Founded in 2000, Saints Capital is among the largest, global secondary direct investors. Saints has completed over 100 single-asset and portfolio transactions into over 300 companies in late-stage venture capital, growth equity and buy-out companies. Saints has assets under management of over $1.2 billion, of which over 30% is in buy-out type situations with controlling interests. Saints Capital entered into the European secondary arena in 2006 with its acquisition of 3i's mid-market buy-out and growth portfolio, and in 2008 Saints structured an acquisition of minority interests in 10 companies from Innovacom, a Paris-based venture capital firm.
Bryan, Garnier & Co is an independent European investment bank established in 1996, focused on European companies offering high growth potential. With close to 150 professionals based in Paris, London, New York, New Delhi and Geneva, Bryan, Garnier & Co services European growth companies, institutional investors and high net worth Individuals through a fully fledged range of investment banking, capital markets and investment management activities.
Bryan Garnier acquired Occam Capital in 2009 to form Bryan Garnier Principal Investments (BGPI), and subsequently in 2011, acquired the Cap Angel and Cap Innova Expansion funds. Since those acquisitions the firm decided to accelerate its asset management activity by focusing on the significant secondary opportunity in private-equity assets in France. The firm estimates that there are over 150 asset managers of various types managing over 1000 different funds withover €40 billion under management.
Saints and BGPI today launch their strategic partnership, combining Saints' pool of capital, the firm's network of co-investors, and Saints' experience in structuring and executing secondary-type transactions often in complex situations, with BGPI's local knowledge of the French market, the Bryan Garnier bank's sector experience in TMT, healthcare, clean-tech, business-services, and BGPI's asset management track-record. The partnership, is looking to invest in deals sized between €50 and €500 million.
"We were attracted to Bryan, Garnier & Co network, and valued greatly the experience they have had both advising companies and investors in France. We share a similar view of the opportunity and realize the importance of their years of experience in understanding the exit environment in France" said Ken Sawyer, founder and managing general partner of Saints Capital. "Our partnership is an ideal resource for GPs of institutional growth and mid-market buy-out funds, whether they be independent or held within banks or insurance companies, as well as corporate or family-office owners of captive venture, growth stage PE-assets. We hope to partner with many of the best French GPs and asset managers looking for liquidity solutions: with Saints' 12 years of experience in working collaboratively with GPs and various types of asset managers in structuring deals, our blind-pool of capital and access to 3rd party capital, our track-record of getting the deal closed, and finally with BGPI and existing GP's at the funds we hope to acquire, our ability to manage assets effectively."
Grégoire Revenu, Managing Partner at Bryan Garnier is excited about the launch of the BGSC partnership. "We share a common growth-stage investment culture and philosophy. Bryan, Garnier & Co is convinced that this partnership can provide pragmatic solutions to General Partners (GPs) as well as Limited Partners (LPs) of PE funds in France".
"Since our initial investment in France in 2008, we have been exploring the needs and specifics of the French PE market. The Bryan Garnier team will be invaluable covering the market in both breadth and depth" suggested Niko von Huetz, Director of Saints Capital in London. "The partnership will collectively be in a unique position to offer complete and compressive liquidity solutions -ranging from outright acquisition and transfer of assets, to highly-structured financial solutions, involving joint-management of the assets".
"This partnership has a significant and strategic importance for Bryan Garnier Principal Investments," added Marc Goldberg, Managing Director of Bryan Garnier Principal Investments (BGPI). "Indeed, according to l'AFIC French private-equity has reached €40 billion AuM across all segments, and with the current global economic climate, options for GPs' to realize these investments are limited. The challenge to create alternative liquidity solutions for GPs and LPs alike has become tremendously important in recent months."
For more information, please contact:
- Bryan Garnier Principal Investments
- Marc Goldberg / mgoldberg@bryangarnier.com
- Gregoire Revenu / grevenu@bryangarnier.com
- Saints Capital
- Ken Sawyer / ken@saintsvc.com
- Niko von Huetz / niko@saintsvc.com
About Bryan, Garnier & Co
Bryan Garnier Principal Investments (" BGPI ") is the principal investment affiliate of Bryan, Garnier & Co, a leading independent pan-European investment banking partnership focusing on European growth companies. With 150 professional based in London, Paris, Geneva, New Dehli and New York, Bryan Garnier provide a full suit of Equity research & brokerage ; Investment Banking ; and asset management services in it's industries of focus : TMT, Health, Clean-Tech, Business services, Specialty Retail and Brands. Bryan Garnier is regulated by the AMF, FSA, and a member of the London stock exchange and the NYSE-Euronext.
BGPI leverages the resources of Bryan, Garnier & Co's leading European growth companies franchise to seek significant capital appreciation through direct investments. BGPI invests in companies within Bryan, Garnier & Co's focus sectors, that have attractive business fundamentals, proven operating teams, a compelling business strategy or vision, and which have the potential to be long-term leaders in their markets.
About Saints Capital: www.saintsvc.com
Saints Capital, founded in 2000, is a leading, global direct secondary acquirer of private equity investments in emerging growth companies around the globe. Saints Capital offers liquidity solutions to private-equity asset managers, corporates, and banks and other independent asset managers across all assets classes. Saints focuses its investments in technology, healthcare, consumer and industrial companies in the United States and around the world. Saints Capital is headquartered in San Francisco with offices in London, and investment professionals in Los Angeles, New York, Europe and Asia. Saints currently manages funds with investments in over 300 companies with over $1.2 billion assets under management.