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UNEXO
UNEXO is the private equity arm of Groupe Crédit Agricole, deploying patient capital in French mid-market buyouts and growth equity since 1990.
UNEXO
UNEXO is the private equity subsidiary of nine regional banks in western France. It operates in Brittany, Normandy, the Loire country, and Poitou-Charentes. UNEXO holds minority stakes in 85 SMEs with more than €5 million in sales.
General information
Firm type
Private Equity
Year founded
1990
AUM
Undisclosed
Location
Region
Europe
Country
France
City
Rennes
Corporate office
Rennes, France
Additional offices
Paris, France
Principals
Patrick Liot
Chairman
Benjamin Hara
Managing Director
Sector focus
Frequently asked questions
Who runs investment decisions at UNEXO?
Patrick Liot serves as Chairman and has been with the firm since 2004, overseeing the investment strategy. Benjamin Hara operates as Managing Director, leading deal origination and execution. The investment committee draws on senior professionals from both UNEXO and the broader Crédit Agricole group for major decisions.
Is UNEXO a traditional fund or a permanent capital vehicle?
UNEXO functions more like a permanent capital vehicle. Because it invests off the balance sheet of Groupe Crédit Agricole and its related entities, it does not cycle through traditional blind-pool funds. This structure allows the firm to hold investments for periods that can extend well beyond a standard five-to-seven-year private equity fund life.
Does UNEXO participate in fund commitments or only direct deals?
UNEXO focuses exclusively on direct equity investments in French companies. It does not operate as a fund-of-funds nor typically participate as a limited partner in third-party private equity funds. Its model is built around taking active board-level roles in its portfolio companies.
What investment stages does UNEXO typically target?
The firm targets buyouts, growth capital rounds, and corporate divestitures. It generally invests in companies with established revenue models, typically in the SME to mid-cap range. UNEXO also engages in special situations and reorganizations where it can deploy operational and strategic support alongside fresh capital.
Which sectors does UNEXO explicitly avoid?
UNEXO has historically concentrated on industrials, agri-food, healthcare, and business services. It has not been an active investor in consumer internet, pure-play software, or speculative biotech. The firm's sector focus aligns with the traditional economic strengths of the French regions where it is most active.
How is UNEXO related to Crédit Agricole?
UNEXO is a wholly owned subsidiary of Groupe Crédit Agricole. It was founded by the bank in 1990 as a dedicated private equity division. The firm benefits from the bank's long-term capital base and extensive regional network in France but operates independently in its investment decisions.
Does UNEXO maintain any philanthropic structures connected to its investments?
UNEXO does not operate a dedicated philanthropic foundation. However, through its parent Groupe Crédit Agricole, its activities are tied to the cooperative and mutualist mission, and the group has a network of regional foundations supporting local community development across France.
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