— Assets.

The founding shareholder of PSA Group, FFP has diversified its assets through investments in line with its family values.

 
FFP's assets

With more than €5 billion gross assets value as of 2019 December 31st, FFP holds direct and indirect stakes in many sectors of activity such as industry, business and personal services, and consumer goods.

 
As at Dec 31, 2019

Access the detailed NAV chart

see detailed NAV

 

PSA Group

 

Our historical asset

Groupe PSA
 
Logo Groupe PSA

Investment
9.3%

since 1890

PSA Group is Europe’s second largest car manufacturer. Operations are based on six car brands – Peugeot, Citroën, DS, Opel, Vauxhall and Free2Move, each with its own global reputation and distinct features under a coordinated international marketing strategy and tapping into production synergies. Its activities also extend to auto loans with Banque PSA Finance and automotive parts with Faurecia. The group retains a 25% interest in Gefco, a transport and logistics company.


see PSA Group

shareholdings

 

7 listed assets & 5 non listed assets

At the heart of its strategy, FFP holds direct stakes in listed and non-listed companies.

FFP acts as a minority shareholder capable of supporting the development of its shareholdings over the long term, in particular because its operations are financed with its own balance sheet. FFP's equity investments are subject to prior due diligence to ensure that there is a convergence of views on ownership, strategy and corporate values.

Logo LISI

LISI

19.0

 % of capital

since 1977

Logo Groupe SEB

Groupe SEB

5.0

 % of capital

since 2004

Logo Safran

Safran

0.7

 % of capital

since 2018

Logo ORPEA

ORPEA

5.0

 % of capital

since 2011

Logo CIEL

CIEL

6.8

 % of capital

since 2014

Logo Groupe Tikehau

Groupe Tikehau

since 2016

Logo SPIE

SPIE

5.4

 % of capital

since 2017

Logo Acteon

Acteon

since 2019

Logo Total Eren

Total Eren

2.4

 % of capital

since 2015

Logo LDAP

LDAP

45.0

 % of capital

since 2013

Logo Château Guiraud

Château Guiraud

74.9

 % of capital

since 2006

co-investments

 

12 co-investments

To invest in specific geographies or sectors, FFP works with various partners.

FFP is invested in co-investment operations with specialized partners in certain sectors or geographies that are less directly accessible by FFP. 

Logo JAB

with  JAB Holding Company

since 2016

Logo IHS

with  ECP, Wendel

since 2013

Logo ArchiMed

with  ArchiMed

since 2018

Logo Roompot

with  PAI Partners

Netherlands

since 2016

Netherlands-based Roompot develops, owns and operates holiday villages and campsites. It is the leading player in the Dutch market, where it owns properties mainly along the coast, and also operates to a lesser extent in Germany, Belgium and France. It has more than 150 sites. 2019 Roompot revenue totalled €371 million.

FFP committed up to €11m in Roompot

Logo AmaWaterways

with  Certares

Europe

since 2017

AmaWaterways is a family-controlled company that has been organising luxury river cruises, mainly in Europe and for English-speaking holidaymakers since 2002. AmaWaterways operates 25 vessels that sail on the Danube, Rhine, Moselle, Main, Rhône, Seine and Garonne rivers, along with waterways in Belgium and the Netherlands, the Douro, the Mekong in Southeast Asia and the Chobe in Africa.

FFP invested $25m in AmaWaterways.

Logo Lineage

with  BayGrove

United States

since 2017

Lineage is the world’s leading specialist cold chain logistics operator serving the food industry including producers, wholesalers and mass retailers. Its services extend beyond cold storage and include high-margin services spanning deep freezing, repackaging, outsourced order management and logistics. Lineage is one of the industry’s two main consolidators, with 42 acquisitions since 2008. After acquiring Preferred Freezer and Emergent Cold in 2019, the company now operates more than 270 sites in 10 countries in the United States, Europe and Asia. Lineage reported some $2.0 billion of revenue in 2019.
Around a third of US food production passes through a Lineage warehouse before reaching consumers.

FFP invested 25 M$ in Lineage in 2017, with a 15 M$ folllow-on investment in 2019 as part of a capital increase to finance the acquisition of Preferred Freezer.

Logo Capsa

with  Levine Leichtman Capital Partners

United States

since 2017

Capsa Healthcare is a leading US producer of medical equipment, serving healthcare providers such as hospitals, clinics, nursing homes and pharmacies. The company designs, produces and sells medication carts (with or without mobile IT hardware), sterile preparation workstations and automated drug management systems. Capsa came about from a series of acquisitions carried out by its management since 2008, with the support of an American family and then Levine Leichtman Capital Partners.

FFP invested $18m in Capsa.

Logo Entoria

with  Apax Partners

France

since 2017

Entoria (formerly Ciprés Assurances), founded in 2000, is now France’s second-largest wholesale insurance broker and 15th largest insurance broker overall. The firm designs and manages life/health and property/casualty insurance solutions for entrepreneurs and SMEs. Its solutions are distributed by a network of 9,000 independent brokers across France.
After acquiring Axelliance Groupe in 2018, Entoria has stepped up growth expanding both its offer in property/casualty, and its presence across France.

FFP invested €15m in CIPRÉS Assurances. 

Logo Big Bottling Company

with  IDI Emerging Markets SA

Nigeria

since 2018

Big Bottling Company produces and distributes carbonated and non-alcoholic beverages in Nigeria. Its main product is BIG (cola, lemon and orange flavours). The company was created when the AJE group – one of the largest beverage multinationals operating from over 20 countries in South America, Africa and Asia – spun off its Nigerian division.
Big Bottling Company directly employs 250 people at its plant near Lagos and its target production volume is around 40 million cases per year.

FFP invested $10m in the Big Bottling Company.

Logo Asmodee

with  PAI Partners

Worldwide

since 2018

Asmodee, founded in 1995, produces and distributes board games and collectible cards. It is a world leader in its sector, with a presence in Europe, North America and China and almost 1,500 employees. Asmodee has a catalogue of 3,000 games and launches almost 300 new games each year. In 2019, Asmodee turned in like-for-like revenue of €575 million, up 16% year-onyear, of which more than 80% was earned outside France.

FFP invested €20m in Asmodee

Logo Transact

with  Reverence Capital

United States

since 2019

Transact is a US leading software & payment platform dedicated to higher education institutions. The company has built up a closed ecosystem that gives universities a simple way of collecting tuition fees, but also giving students access to all campus services and infrastructure via their student cards and smartphones (sports facilities, canteens, class attendance etc.).
Transact operates across more than 1,300 campuses in the United States and handles more than $40 billion of transactions every year.

FFP invested $15m in Transact.

Logo The Lian

with  Crescent Point

China

since 2019

The Lian is a leading brand e-commerce integrated services provider in China, focused on Asian and mid-sized cosmetics and skincare brands. The company, headquartered in Shanghai, is a B2B outsourcing partner for cosmetics brand (also called “Tmall partner”) allowing them to access the Chinese market through brand-authorized flagship stores, mainly on Tmall as well as other major online commerce and referencing platforms (JD.com, VIPShop, Little Red Book).

FFP invested $14m out of a total commitment of $20m.

private equity funds

 

1 asset & diversified commitments

FFP has a portfolio of private equity funds, split between the United States, Europe and emerging countries. FFP is also a shareholder of IDI, a small cap investment firm.

Since 2002, FFP has made commitments in private equity funds. This asset class allows FFP to access a large number of companies and sectors of activity with a long-term approach. It also allows it to access sectors or geographical areas to which it would have direct access only with difficulty.

FFP's portfolio is mainly composed of buyout (LBO), expansion, technology growth capital funds and impact investing funds.

In 2019, €149 million were committed to 10 funds.

Total amounts committed

771m

Total capital called

470m

Total capital distributed

293m

Portfolio valuation in 2019

339m

Total amounts committed

771m

Total capital called

470m

Total capital distributed

293m

Portfolio valuation in 2019

339m

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Examples of our commitments
Logo Advent

Advent

LBO

Global

Logo DBAG

DBAG

LBO

Europe

Logo Veritas

Veritas

LBO

United States

Logo PAI

PAI

LBO

Europe

Logo Montefiore

Montefiore

LBO

Europe

Logo K4

K4

Growth

United States

Logo Keensight V

Keensight V

Growth

Europe

Logo Warburg Pincus XIII

Warburg Pincus XIII

Growth

Worldwide

Logo Valor

Valor

Growth

United States

Logo K1

K1

Growth

United States

Logo Idinvest Digital III

Idinvest Digital III

Venture

Europe

Logo Alter Equity II

Alter Equity II

Impact

Europe

Download the list of our private equity funds  


shareholdings
Logo IDI

IDI

10.1

 % of capital

since 2006

real estate

 

2 assets & co-investments and funds

FFP invests in prime, value-add or development real estate projects, through direct investments, real estate funds or co-investments alongside trusted partners with a proven track record.

shareholdings
Logo Immobilière Dassault

Immobilière Dassault

19.7

 % of capital

since 2006

Logo SIGNA Prime Selection

SIGNA Prime Selection

5.0

 % of capital

since 2019


co-investments
Logo ELV

ELV

since 2015

Tour Marchand - OCPI Lapillus II

since 2016


funds
Logo White Stone VI et VII

White Stone VI et VII

Real estate development

France

Logo Icawood

Icawood

Real estate development

France

Logo TREO

TREO

Real estate development

Europe