Natixis merges regional PE units
The asset management business of Natixis has launched a global private equity firm by merging three existing PE affiliates, including Singaporean fund-of-funds Eagle Asia Partners.
The new firm, known as Flexstone Partners, brings together Eagle Asia with secondaries advisory Geneva-based Euro Private Equity and US co-investment fund manager Caspian Private Equity. It has combined assets of $6.7 billion and more than 40 PE professionals across offices in Singapore, the US, and Europe with headquarters in Paris.
Flexstone plans to make primary and secondary investments as well as co-investments across private equity, private debt, real estate, and infrastructure strategies. The firm said it would cater to institutional investors, including pension funds, insurance companies, foundations, financial institutions and family offices, from across the Americas, Europe, and Asia Pacific.
Flexstone is a majority-owned subsidiary of Natixis Investment Managers, which has almost $1 trillion in assets under management and 27 specialized investment managers. Eric Deram, the founder of Euro Private Equity, has been appointed CEO and will oversee a range of services including advising on private assets portfolio construction and the management of fully discretionary separate accounts and funds-of-funds.
"Our longstanding expertise in the hard-to-access small and midcap segments globally means we can provide clients with the access, selection, and diversification to fit their unique needs and constraints," Deram said in a statement. "As an affiliate of Natixis Investment Managers, we can rely on its strong distribution capabilities across the globe, while focusing on delivering truly differentiated active portfolios for our clients."
Eagle Asia was founded in 2007 and invests PE funds across Greater China, India, Japan, Korea, Southeast Asia and Australia, with an emphasis on emerging markets. The firm also participates in secondary and direct co-investment deals. Its first fund, which launched in 2008 with $120 million, was backed by Natixis and has been fully committed. Fund II raised $100 million in 2011 primarily for midcap, growth and expansion capital funds.
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