France’s ODDO BHF doubles firepower with latest secondaries raise

The investment arm of global wealth manager will mainly focus on mid- and large-cap assets via its sophomore fund.

ODDO BHF Private Equity, the investment arm of global wealth manager ODDO BHF, has raised 43 percent more than its target for its latest secondaries vehicle in a final close.

The Paris-headquartered manager has collected €715 million for ODDO BHF Secondaries Fund II, beating its €500 million target, according to a statement. The fund launched in 2022, according to Secondaries Investor data.

Fund II will mainly focus on mid- and large-cap assets, Anne Bismut, global head of private assets at ODDO BHF AM, said in the statement.

Predecessor Fund I raised €240 million, according to the statement. At the time of Fund I’s final close in 2020, ODDO BHF said it had raised €358 million in total for private equity secondaries across three vehicles including Fund I.

ODDO BHF’s secondaries team is co-led by Jérôme Marie who joined from ACG Capital, the fund of funds and secondaries arm of ACG Group, which ODDO acquired in 2017.

In 2022 the firm hired Richard Clarke-Jervoise, the former head of private capital at multifamily office Stonehage Fleming, to lead the build-out of a European venture capital platform.

ODDO BHF’s private assets team manages around €4.2 billion across partnership investing, private debt and what it calls ‘flex equity’ strategies.