Launch of investment funds nova 1 and nova 2 to support quoted SME and intermediary companies
Financing companies - 23 February 2012
Caisse des Dépôts and 11 major insurers, supported by the Ministry of the Economy, Finance and Industry and the French Federation of Insurance Companies, joined to launch investment funds nova 1 and nova 2, so creating a "shock of capital" to relaunch the financing of the SME and intermediary companies by the financial market.
A total amount of €161.5mn has been raised, including €40mn from Caisse des Dépôts and €121.5mn from the insurance companies Axa, BNP Paribas Cardif, CNP Assurances, Predica, ACM, Sogecap, Aviva France, Suravenir, HSBC Assurances, Natixis Assurances and CCR. The funds are firm and are invested for a five-year period compatible with the liquidity observed on the markets and that required by the investors.
Nova 1 and nova 2 will invest exclusively in French SMEs and ETIs in the industrial and service sectors listed on regulated markets and on Alternext*. 40% of the capital is intended for IPO and 30% for capital increases. Management of the funds has been entrusted to CM-CIC AM and Amiral Gestion.
The funds mark the return of major investors to these assets and testify to the part of Caisse des Dépôts and insurance companies as long-term investors assisting in economic development.
*Alternext is an organised transaction platform created by Euronext Paris and intended for SMEs in the Euro zone.