Investor Presentaiton
4. Appendices
Appendix 1 - Overview of the equity investment division
Ownership structure
100%
Liberté Égalité Fraternité
EPIC
Bpifrance
Holding
company (LP¹)
RÉPUBLIQUE FRANÇAISE
GROUPE
Caisse
desDépôts
50% 50%
Bpifrance S.A.
100%
Bpifrance
Participations
Asset
Management
100%
INVESTISSEMENT
Asset Management bpifrance
company (GP²)
Assets under Management
Σ= €36,1 bn (end Dec. 2019)
3 Business lines
Direct investments → Bpifrance acquires minority stakes in growing companies,
from seed to transmission, usually alongside private funds, whether national or
regional:
Growth
Equity investments in companies of all sizes
On segments where there is a lack of private initiative
Equity or quasi-equity
Direct stakes or holdings through investment funds
Mid & Large
Caps³
Small
Caps
Venture
2019
2019
2019
•
•
•
AUM: €18,8 bn
Investments: €1 173 m
# deals: 51
AUM: €2,2 bn
Investments: €162 m
# deals: 94
AUM: €3,2 bn
Investments: €322 m
# deals: 102
Funds of Funds → Bpifrance has a portfolio of ~400 partner funds, national or
regional to:
Contribute to the growth of SMEs
Structure the financial chain
Have a leverage effect on the private sector's investment in SMEs
Enhance private equity managers efficiency and share best practices with them
Mid & Large Caps³
33
Third-party
AuM
16
%
Small Caps
%
52
Funds of Funds
%
9% 6
%
Proprietary
AuM
84
%
Venture
Funds of funds
2019
•
Commitments: €1 109 m
°
AUM: €11,9 bn
•
# deals: 62
bpifrance
1. Limited Partnership / 2. General Partnership / 3. Including the Industrial Project Companies and the International Build-up funds
34
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