The former CEO of Edmond de Rothschild Asset Management (EDRAM) Philippe Couvrecelle and his partner Jean Maunoury have launched a new asset management platform, called IM Square.
The platform will expand the international presence of asset management companies and will acquire minority stakes in the capital of entrepreneurial companies wishing to add long-term shareholders.
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The pair expects to raise between EUR50 and EUR80 million by the end of the year to fund the new platform.
The duo aim is to raise 250 million for ten equity investments and go public with the next five to seven years.
The platform is specifically designed for management companies with assets under management between 1 and 15 billion dollars.
In addition, the platform will support asset managers in their international and institutional development as well as strategic and organizational changes in three main areas including sales and marketing, organization and transmission of capital.
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By GlobalDataCurrently, around 20 companies (70% American and 30% European, Asian and Australian) are due to join the new platform’s investment universe.
"We have estimated that there are over 1,000 companies worldwide that meet our assets under management criteria. And we regularly discover gems that are known on their domestic market but have no international visibility," Maunoury said.
Couvrecelle said: "We have noticed that there are many attractive opportunities for talented entrepreneurial companies that are unsure how to tackle the international market with efficiency."
