Deals

SGAM closes €267m fund-of-funds

SGAM Alternative Investments has had its second and final closing of a fund-of-funds for investment in Europe and the US.

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SGAM Alternative Investments has closed a €267 million ($363 million) private equity fund-of-funds.

The SGAM Private Value Fund will invest across the private equity sector in venture capital, expansion capital, buyout, primary and secondary funds.

Fund-of-funds specialist Pantheon Ventures has advised SGAM AI about fund-of-funds selection and recommendation.

SGAM AI is the alternative assets division of French financial services firm Société Générale Asset Management.

The private equity part of the business has various funds for investment in new technologies, biotech venture capital, expansion capital, leveraged buyouts and funds of funds. On 31 December 2006 it had €1.6 billion under management.