Two investment companies are reported to be launching a local investment fund (fonds d'investissement de proximite or FIP). Credit Mutuel Nord Europe and Sigefi Nord Gestion, the latter a joint venture of Norgefi and Siparex, will join to form the fund, named FIP Nord Europe PME.
The fund is expected to have a life of 10 years. With the aim of attracting private investors; the nominal value of its parts has been fixed at Ђ3,000. The purpose of the fund is to provide capital to unlisted small- and medium-sized enterprises (SMEs) in the Picardie, Champagne-Ardennes and Nord-Pas-de-Calais regions of northern France.
Source: Les Echos
