Tertium Investissements

Tertium targets the lower middle market, providing buyout, growth capital, and management buyout financing. The firm focuses on established small and medium enterprises in France, typically those undergoing succession, expansion, or operational transitions. This stage sits between venture capital and large-cap buyouts, where personal relationships often matter more than formal auction processes.

Public records do not confirm Tertium's precise capital structure. The firm is described as a private equity asset manager, which typically implies a closed-end fund model, but it has not publicly reported a specific fund vehicle, vintage, or close. The lack of public fundraising announcements suggests a potential reliance on deal-by-deal capital or a discreet, long-term backer, though this remains unconfirmed.

Yes, co-investment is listed among Tertium's primary strategies alongside direct buyout and growth deals. This indicates a willingness to partner with other firms on transactions, likely to pool capital for larger deals or to access specific sector expertise. However, the firm has not publicly named its co-investment partners.

Tertium is headquartered in Marseille and focuses on investments in France, with a natural emphasis on Southern France and its surrounding industrial and commercial regions. Operating outside the Paris financial center gives the firm a distinct local origination advantage for family-held and founder-led businesses in the south.

Tertium has not published a formal exclusion list. Most lower-middle-market generalist firms in France avoid highly regulated sectors like banking, pure-play biotech, and early-stage technology ventures. Given Tertium's buyout and growth focus, the firm is unlikely to pursue pre-revenue startups or speculative real estate development, though this is inferred from standard practice rather than explicit disclosure.