16 Jun 2021
Invest Europe, the association representing Europe’s private equity, venture capital and infrastructure sectors, as well as their investors, today announced that Anne Fossemalle, Director, Equity Funds at the European Bank for Reconstruction and Development (EBRD), has assumed the role of chair for 2021-2022, taking over from Thierry Baudon, Founder and Chairman Emeritus, Mid Europa Partners.
Anne has over 25 years of private equity experience and holds numerous Supervisory Board and Investment Committee memberships with major fund managers within the EBRD geography. Anne joined the EBRD in 1993 from Natixis and has worked in several capacities prior to heading Equity Funds, notably leading EBRD’s debt and direct equity investments into financial institutions.
Anne holds Masters degrees from Stanford University, Ecole Nationale du Génie Rural, des Eaux et des Forêts (France) and Institut National Agronomique Paris-Grignon (France).
With Anne’s guidance, and under the leadership of Eric de Montgolfier, CEO of Invest Europe, the association will continue to demonstrate private equity’s position as a cornerstone of Europe’s economy and society, supporting over 10 million workers across the continent and creating over a quarter of a million jobs in sectors that will help feed the recovery from the COVID-19 crisis.
A total of 10.2 million people were employed at 23,009 portfolio companies at the end of 2019, ranging from start-ups and SMEs to large multinationals, according to the second edition of Invest Europe’s ground-breaking employment study. That equates to 4.3% of Europe’s active workforce and is on a par with the entire population of Sweden.
In 2020, European private equity stepped up to the mark and invested €88 billion into over 8,000 companies across the continent. In the midst of intense turbulence, investment was 12% lower than the record deployment of 2019, but nevertheless the second highest total on record.
Capital flowed into every region and into core sectors that target digital growth, consumption and long-term health: ICT accounted for 37% of investment; consumer goods & services a further 19%; and biotech & healthcare 15%. Private equity firms helped portfolio companies through the crisis with follow-on equity investments totalling €26 billion in 2020.
Private equity’s ability to provide strong returns on investment for long-term investors, namely pension funds and insurers seeking to grow savers’ and pensioners’ contributions, was also in full evidence. Fundraising reached €101 billion in 2020, again lower than 2019’s pre-pandemic record, yet the third-year in a row that the industry has secured over €100 billion from long-term investors. That takes fundraising for the last five years to €500 billion, providing abundant capital to support existing European portfolio companies, while identifying and backing new, attractive investment opportunities.
As Chair, Anne will be supported by Invest Europe’s board of directors, including the new appointments of Tom Allen (Advent), Frans Tieleman (Eurazeo), Louis Flamand (Metlife) and Klaus Hommels (Lakestar) who has also been appointed Chair-elect for 2021-2022. Meanwhile, Max Römer, Quadriga Capital, has agreed to remain as Treasurer for another year.
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