Investment operations
Financière Agache issues bonds for financing and acquisition purposes.[7]
Since the 1990s, Arnault has invested in technology companies through his family office. These include Devialet, Netflix, Spotify and Airbnb.[12]
In 2007, Financière Agache first took a 9.8% holding in France's supermarket group Carrefour, alongside Colony Capital and Axon Capital. During that time, it emerged as one of Carrefour's three big shareholders, along with the Motier Holding and Península Participações. Between 2020 and 2021, it sold its entire stake for €724 million after a potential takeover by Couche-Tard did not materialize.[13][14]
In January 2016, Catterton, LVMH, and Financière Agache partnered to create private equity firm L Catterton.[15] Notable investment include Birkenstock, Jio Platforms and Norwegian Cruise Line Holdings.[16]
In 2017, Aglaé Ventures was established as a venture capital firm under Financière Agache.[17][18] It was initially set up to invest up to €2 million at a time in France technology companies, as well as helping them to expand internationally.[19]
In May 2020, Financière Agache acquired 27% stake in Lagardère Capital, the personal holding company of Arnaud Lagardère; Arnault had initially invested to help Arnaud Lagardère fight off an activist fund, but he ended up sidelined after Vincent Bolloré ended up becoming Lagardère's lead shareholder.[20] In September 2021, Financière Agache sold its entire stake for a 9.97% stake in Lagardère Group.[21]
In April 2021, Financière Agache co-sponsored a SPAC named Pegasus Europe which raised €483 million. However a target could not be found and it was terminated in April 2023.[16][22] In December 2021, Financière Agache and its partners publicly listed a second SPAC with an entrepreneurial focus, Pegasus Entrepreneurial Acquisition Company Europe, in Amsterdam; it raised 200 million euros ($226 million).[23] It later backed Pegasus Asia in 2022 which raised S$170 million ($126 million) with plans to invest in tech-enabled sectors.[24]
