Primonial Group to Purchase the Remaining Part of La Financiere de l’Echiquier
Posted on 03/14/2019
Paris-based Primonial Group (Groupe Primonial SAS) plans to fully takeover in European money management firm La Financiere de l’Echiquier (LFDE) to 100%. Primonial Group had owned a 40% stake in LFDE. The deal needs clearance from regulators and is expected to close in the summer of 2019. Christophe Mianne will remain CEO of LFDE, which has €10 billion in assets under management.
Led by CEO Stéphane Vidal, Primonial has €23.4 billion in assets under management.
Didier Le Menestrel and Christian Gueugnier, founders and majority shareholders of LFDE, said in a joint news release, “We are confident that LFDE, firmly anchored in Primonial Group, is in good hands to pursue its development strategy on a European scale.”
Primonial’s Private Equity Investor
In February 2019, private equity firm Bridgepoint Advisers Ltd. put Primonial Group up for sale. Bids are expected to reach or top €1.5 billion. Bridgepoint acquired Primonial in 2017. The private equity firm hired Rothschild and JPMorgan Chase to advise on the sale of Primonial.
