A consortium made up of Swiss investment fund Partners Group, Caisse de dépôt et placement du Québec and China Investment Corporation (CIC) has acquired French real estate group Foncia from private equity funds Eurazeo and Bridgepoint for a fee of €1.8 billion.
Foncia is a French real estate management company providing joint-property management, lease management and rental and transaction services.
Eurazeo and Bridgepoint acquired the group in 2011 from Groupe BPCE and have grown the business since, making as many as 60 acquisitions.
The investors will have made around 2.4 times their initial investment of just over €1 billion when disposals are also taken into account.
Gide Loyrette Nouel advised the lenders with the acquisition financing for the deal.
John Crabb - Journalist
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