17 Nov 2025

Clifford Chance advises FCDE on structuring FCDE Fund III at €400 million hard cap

"Clifford Chance advised FCDE on the structuring and closing of its third private equity vehicle, FCDE Fund III, which closed at its €400 million hard cap after a little over six months. The oversubscribed fund is approximately 45% larger than FCDE Fund II and was backed by leading French and international institutional investors to support high‑growth SMEs and mid‑caps."

Clifford Chance advised FCDE in connection with the structuring and closing of FCDE Fund III, its third private equity fund, which was raised to a €400 million hard cap. FCDE completed the raise of FCDE Fund III at its €400 million hard cap after a process lasting a little over six months in a highly competitive market. The fund was oversubscribed and registers an increase of approximately 45% compared with FCDE Fund II, which closed in 2023 at €277 million. The raise was supported by leading French and international institutional investors. The capital raise will enable FCDE to continue its specialised investment strategy of supporting the development and transformation of high‑growth small and medium-sized enterprises and mid‑cap companies. Clifford Chance represented FCDE with a team composed by: Xavier Comaills, partner, funds; Benjamin Massot, counsel, funds; Marc El Khoury, associate, funds; Pierre Goyat, partner, tax; Elise Poiraud, attorney, tax; Andréa Pilisi, attorney, tax.
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