Our strategy

Over the past fifteen years, LBO France has developed a platform of complementary expertise that provides it with excellent coverage of the French market.

In LBO, the original activity of the management company, through its White KnightHexagone and Small Caps Opportunities funds, LBO France invests as a majority shareholder in French and Italian growth companies with a strong presence abroad or with significant international potential. More than 50% of White Knight revenues are therefore generated outside France.

LBO France supports its companies by providing them with the expertise and financial means they require to reach the next stage in their development, whether via organic growth, external growth or by creating operational value.

LBO France develops an original approach to value creation based on the combination of diverse expertise in the analysis of opportunities and on osmosis between the investment team and the operational team, which includes former CEOs and experienced operational managers, all 100% dedicated to LBO France.

The dividing line between small cap (Hexagone and Small Caps Opportunities) and mid cap (White Knight) is set at 100 million euros in enterprise value. It represents the approximate demarcation between transmission by founders on the one hand, and by financial operators and large groups on the other. Since its inception, LBO France has supported more than one hundred companies.

With the integration of Innovation Capital, LBO France has developed a second area of expertise: the capital venture. The latest SISA fund supports companies positioned in digital healthcare and the Silver Economy. The objective is to acquire equity interests in innovative companies generally as lead investor, in order to finance their investments and accelerate their commercial growth both in France and abroad. The strategy is implemented by a team with dual healthcare and technology expertise.

In Real Estate, LBO France has implemented two complementary investment strategies: a value added strategy (White Stone) and a medium and long-term yield strategy (Lapillus). The real estate portfolios are widely diversified: they include both real estate assets (offices, residential, commercial, etc.) and sector-based companies (developers, construction companies, hotels, etc.). The real estate strategy is managed and implemented by an integrated team of experienced professionals who cover all business dimensions: investment, asset management, financial expertise and legal expertise.

In Debt, LBO France focuses on private-sector debt products that benefit from the most advantageous risk-yield balance by exploiting its knowledge of the LBO market and its operators, alongside its experience of managerial, strategic and financial analysis and the credit experience offered by the debt team. Historically concentrating on the purchase of unlisted debt in the secondary market via the Altercap fund, the investment strategy currently targets via dedicated funds both French mid-market companies (between €50m and €250m Enterprise Value) and the European market of larger-sized companies.

  • About us

    With €3.4 billion under management as of December 2017, LBO France is one of the largest private equity firms in France.

  • Investors

    LBO France values and builds on its investors’ trust.

  • Key figures

    Over 100 companies supported.

    More than €2 billion real estate transactions.