FPCI: Pergam Aurickx 2 (Closed)
Pergam and Aurickx have decided to pool their skills as well as their deal flow to co-invest in unlisted growth companies or in opportunistic deals.
Aurickx Capital was founded by Charles-Henri Le Bret in 2013. He holds an MBA from INSEAD and has 25 years of professional experience in investment banking (M&A, capital markets) at JP Morgan (15 years) and at UBS, where he was responsible for investment banking activities for France. He created a first closed investment vehicle consisting of a dozen lines of unlisted European mid-caps for an initial asset value of approximately 25 million euros.
Pergam Aurickx 2 favours a club deal spirit with its investors, bringing together a limited number of investors from the corporate world, CEOs, entrepreneurs, and family offices.
* The units and underlying assets of this FPCI are subject to capital losses and liquidity risk. Investors should also be aware of company valuation risk. For further information, please consult the KIID and/or Prospectus, a copy of which is available on request.
Initiated by CVC this investment closed in january 2018.
Initiated by KKR this investment closed in november 2018.
Tikehau led this capital raising in january 2019.
e.Ventures and Greycroft, long time business partner to Pergam, led this capital raising in march 2019.
The primary LBO was managed by Weinberg Capital Partners.
The company sets itself apart from its competitors (Picard and Thiriet) with an original concept for selling frozen foods based on a small range comprising 300 products of 100% French origin, most of which are non-processed, and by working with partners. With online presence, the company offers 48-hour delivery across the whole of mainland France.
It launched its IPO on 9 October 2020.
Users scan their store receipts to earn points that can be redeemed for hundreds of rewards.
Fetch Rewards is free for consumers but any brands wishing to be involved in the scheme and have access to user data must pay a fee. As of the end of September 2020, Fetch had 4.2 million active users.
ICONIQ and DST Global led a round of funding in December 2020.
The company covers the full range of patient eyecare needs, from medical optometry to the sale of corrective products, including ophthalmology and its specialist areas.
In a highly fragmented market, EyeCare Partners has been consolidating the sector with the purchase of independent outlets and aims to double its volume of business in 5 years.
This investment was made alongside the Swiss investment fund Partners Group, which purchased the Group in January 2020.
Our Partners
Private Equity Fund
Investment Companies
Founding CEO
Family Offices
Our clients
Growing companies:
- Sectors: business services, consumer goods, healthcare, industry
- Competitive advantages: pricing power, barriers to entry, structurally high ROCE
- Alignment of management: agility and performance
Opportunistic deals:
- Protective entry price
- Short holding period (approximately two to four years)
- Value added deals with attractive cashflows and clear exit
Our Financial instruments
- Equity
- Convertible bonds
- Any instrument giving access to capital
An atypical mode of operation:
The financing round consists of individuals from the corporate, investment, and family office world whose expertise is used on certain deals. Possible co-investments on favourable terms alongside Pergam Aurickx 2 for fund investors.
An active cash segment:
Pergam Aurickx 2 may hold up to 15% cash and/or listed securities. This cash segment is intended to support IPOs in particular. Pergam Aurickx 2 may also take advantages of inefficiencies in the monitored sectors.
A unique deal flow:
Pergam and Aurickx Capital have developed numerous relationships: private equity funds, investment banks, and international family groups. Pergam Aurickx 2 provides a unique opportunity to co-invest with the major recognised players in Private Equity under preferred conditions.
Number of co-investments
Between 10 and 12 lines in the portfolio
Maximum % of the fund per issuer
15%
Leverage
No leverage
Investment Period
5 years
Sectoral concentration
Maximum 25% on a sector
Foreign exchange
No systematic currency hedging
Name
Pergam Aurickx 2
Legal form
FPCI (Professional private equity fund)
Classification
Listed and unlisted investment funds
Custodian
CACEIS Bank France
Financial Manager
PERGAM
Risk profile (1: Low – 7: High)
1 2 3 4 5 6 7
Recommended investments period
8 + 1 + 1 years
Allocation of earnings
Accumulation (partial distribution possible after the 5-year lock-up period for tax purposes)
Valuation
Biannual, 30 June and 31 December
Minimum initial investment
250,000 euros
Initial net asset value
1,000 euros
Management fee
1.90% TTC including taxes per year
Carried Interest
15% beyond a performance of 7% per year with catch up
Subscription fee
None
Redemption fee
None
Investors
Reserved for “professional investors”
Contact us
28 rue Bayard
75008 PARIS
FRANCE
Phone : +33 1 53 57 72 00
e-mail : contact@pergam.net
Subway 1 - 9 - : Franklin D. Roosevelt - Parking : 24, rue François Ier 75008 Paris