News & Analysis

Mantra secondaries head departs

Fabrice Moyne had been at the Paris-headquartered niche secondaries buyer, which is investing its third fund, for more than 11 years.

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The head of secondaries at Mantra Investment Partners is no longer with the firm, Secondaries Investor has learned.

Fabrice Moyne left the niche Paris-headquartered buyer in July, according to two sources familiar with the matter. The reasons for his departure are unclear and Moyne has declined to comment.

Moyne was one of five partners at Mantra, where he spent more than 11 years. He sourced 99 percent and led 96 percent of all secondaries deals closed by the firm between February 2011 and June 2022, according to his LinkedIn profile.

He will be replaced by partners and co-heads of secondaries Olivier Gervais-Blondel and Jeremy Desdouets, Mantra’s founding partner Antoine Dréan told Secondaries Investor. “The rest of the team stays the same. Not much will change really,” he added.

Mantra is investing its €180 million Fund III, which closed above target in December, Secondaries Investor reported. Its 2018-vintage Fund II raised €120 million by final close in 2018.

Mantra mainly invests LP-led deals, with a preference for single lines, in growth and venture capital as well as esoteric asset classes such as agriculture. Fund III is targeting a 2x cash-on-cash multiple and a 25 percent net internal rate of return.