Partners Group in Talks to Buy French Property Firm Foncia

  • Eurazeo and Bridgepoint bought Foncia Groupe five years ago
  • Owners seeking more than $2.3 billion, Les Echos said in March

Swiss buyout firm Partners Group Holding AG is in exclusive talks to buy Foncia Groupe from Eurazeo SA and Bridgepoint Advisers Ltd., which purchased the French property-management company five years ago.

Foncia has made more than 60 acquisitions since 2011 and had revenue of 696 million euros ($793 million) last year, Eurazeo and Bridgepoint said in a statement on Thursday. The owners aimed to raise more than 2 billion euros from the sale, French newspaper Les Echos reported in March.

Foncia is France’s largest home-leasing company with a network of 600 estate agencies spanning France, Switzerland, Germany and Belgium, according to its website. The transaction would be subject to the agreement of employee representatives, according to the statement, meaning an obligatory consultation period will precede any transaction by the companies.

Partners Group, based in Baar, Switzerland, oversees more than 46 billion euros in private equity, debt and real estate investments. The company fell as much as 1 percent in Zurich trading and was down 0.7 percent at 412.25 Swiss francs at 10:21 a.m. Eurazeo, which has an investment portfolio of 5 billion euros in assets, was little changed at 57.67 euros in Paris.

London-based Bridgepoint has raised more than 20.5 billion euros of capital from investors such as public and private pension funds, asset managers, family offices, sovereign authorities and insurance companies, according to its website.

Les Echos said in March that Rothschild had been appointed to manage the sale.

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