I-TRACING Unlocks Next Growth Phase with €180 Million Continuation Fund
Deal News | Nov 25, 2024 | TPG
Eurazeo has announced the successful exit of I-TRACING, a prominent French cybersecurity services provider, into a newly created Continuation Fund that they manage. With a focus on supporting I-TRACING’s next growth phase, Eurazeo, along with co-control partner Oakley Capital and minority investor Sagard NewGen, is promising substantial reinvestment. The Continuation Fund has closed with €180 million in new capital commitments, supported by significant investors such as Five Arrows Secondary Opportunities and TPG GP Solutions. With a strategy centered on a European buy-and-build approach, Eurazeo aims to leverage identified acquisitions to propel future growth for I-TRACING, whose management and employees have also reinvested. The move reflects Eurazeo's broader strategy to engage and expand within the cybersecurity market by backing I-TRACING's existing business model and growth approach.
Sectors
- Cybersecurity
- Private Equity
- Investments
Geography
- France – I-TRACING is a French company, and the investment activities revolve around its operations in France.
- Europe – The expansion strategy for I-TRACING involves a European buy-and-build plan, indicating a focus on geographic growth within Europe.
- United States – Eurazeo and TPG are global firms with significant operations and offices in the United States, affecting their investment strategies.
Industry
- Cybersecurity – The article centers around I-TRACING, a cybersecurity services provider, highlighting the industry's critical role in contemporary digital protection and incident response services.
- Private Equity – The article discusses the role of Eurazeo, TPG, and Five Arrows Secondary Opportunities in structuring a Continuation Fund for I-TRACING, reflecting investment trends in the Private Equity sector.
- Investments – The article focuses on investment activities, particularly the strategic deployment of a Continuation Fund valued at €180 million to sustain and grow I-TRACING.
Financials
- €180 million – The total amount of new capital commitments raised in the Continuation Fund managed by Eurazeo.
- €150 million – The expected revenue for I-TRACING in 2024.
- €35.5 billion – Total assets under management by Eurazeo as mentioned in the article.
- $239 billion – Total assets under management by TPG.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Eurazeo | PE Firm | Company | A leading European investment group managing the Continuation Fund for I-TRACING. |
| I-TRACING | Target Company | Company | A cybersecurity services provider focused on offering managed security services and cybersecurity solutions. |
| Oakley Capital | Co-Control Partner | Company | Joining Eurazeo in managing the next growth phase for I-TRACING. |
| Sagard NewGen | Minority Investor | Company | A minority investor reinvesting in the new Continuation Fund deal. |
| Five Arrows Secondary Opportunities | Co-Lead Investor | Company | A division of Rothschild & Co acting as co-lead investor in the Continuation Fund. |
| TPG GP Solutions | Co-Lead Investor | Company | Part of TPG, a global asset management firm, acting as a co-lead investor in the fund. |