FPCI: Pergam Aurickx 2
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.
Pergam Aurickx 2 is an FPCI (professional private equity fund) in the fundraising phase managed by Pergam and advised by Aurickx Capital.
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.
|Sébia: Based in France, Sébia is a specialty in-vitro diagnostic company which develops manufactures and sell instruments and reagents used to analyse proteins to detect specific diseases like multiple myeloma.
Initiated by CVC this investment closed in january 2018.
|Cem’In’Eu: Based in France, Cem’In’Eu is developing a unique european network of small standardized clinker production facilities located at the hart of consumption areas. It provides an inovative sourcing, logistical and production concept for cement in Europe. The company has been seeded by Pergam and Cem 21 in 2015, and raised €40M in january 2018.|
|Envision Healthcare: Based in the USA, Envision Healthcare provides team of physicians and medicine services to hospitals, ambulatory surgery centers, and care facilities.
Initiated by KKR this investment closed in november 2018.
|Green Yellow: Based in France, Casino’s subsidiary Green Yellow develops and builds electricity producing solar platforms roof tops and parking covers. It also helps clients optimise their energy bill and electricity sourcing.
Tikehau led this capital raising in january 2019.
|The RealReal: Founded in the US in 2011 by Julie Wainwright, TRR is the leading market place for second hand luxury goods; which allows its members to buy or sell their accessories after inspection and authentification by TRR teams.
e.Ventures and Greycroft, long time business partner to Pergam, led this capital raising in march 2019.
Private Equity Fund
- Sectors: business services, consumer goods, healthcare, industry
- Competitive advantages: pricing power, barriers to entry, structurally high ROCE
- Alignment of management: agility and performance
- Protective entry price
- Short holding period (approximately two to four years)
- Value added deals with attractive cashflows and clear exit
Our Financial instruments
- 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%|
|Investment Period||5 years|
|Sectoral concentration||Maximum 25% on a sector|
|Foreign exchange||No systematic currency hedging|
|Minimum investment||€250,000 per investor called over 5 years|
|Name||Pergam Aurickx 2|
|Legal form||FPCI (Professional private equity fund)|
|Classification||Listed and unlisted investment funds|
|Custodian||Caceis Bank France|
|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|
|Investors||Reserved for “professional investors”|