When making its asset allocation, the Funds of Funds team takes advantage of the highly varied nature of the European Private Equity market in order to find sources of diversification and build consistent and diversified portfolios.

The team covers:

• All segments of Private Equity
  The team invests in all stages of the company financing cycle such as expansion and buyout, as well as special situations and technology. This strategy allows us to access underlying portfolio companies of all sizes.

• Extensive geographical reach
  We concentrate mainly on funds invested in underlying companies based in Europe (including central and eastern Europe), but we also invest in global funds.

• Different vintages
  By selecting different fund vintages, we automatically achieve diversification and thus avoid the risk of over-exposure to a particular business cycle.

• Varied investment styles
  We make every effort to represent the full diversity of investing styles in our portfolios. This includes a hands-on approach, organic or external growth strategies, and specialisation in entrepreneurial companies or spin-offs.

• Diversified team profiles
  We have vast experience in selecting not only seasoned teams but also emerging managers – experienced managers who set up a new, independent management company.

• Broad sector coverage
  Building a portfolio through a fund of funds results in a high degree of sector diversification.

The portfolio construction process also relies on the research produced by BNP Paribas Private Equity.

The team has designed, developed and implemented a rigorous and well-documented investment process based on proprietary tools.

The key features of this process are:

• in-depth analysis,

• well-documented and uniform due-diligence process,

• quantitative and qualitative analysis,

• use of proprietary analytical tools.