The IR data room — France
Private equity in France, in numbers
France is Europe's second-largest PE market by fundraising, measured by its own national association with audited, self-declared member data. These are the figures a French fund IR team reaches for — and the reporting frameworks LPs will ask you about.
France PE fundraising, 2025
€42.9bn
Up 10% on 2024 — €28.9bn private equity excluding infrastructure, plus €14.0bn infrastructure funds.
France Invest / Grant Thornton, annual activity study · 2025
Invested in French companies, 2025
€36.4bn
In 2,904 companies and infrastructure projects, broadly flat vs 2024's €36.9bn; PE excluding infrastructure grew 11%.
France Invest / Grant Thornton · 2025
Divested at historical cost, 2025
€14.0bn
Up 9% on 2024 but on fewer transactions — France Invest itself calls the exit level insufficient. DPI pressure is the French story.
France Invest / Grant Thornton · 2025
Companies backed by France Invest members
10,700
Supporting 2.4 million jobs; 78% are SMEs. The portfolio an emerging French manager competes alongside.
France Invest, chiffres clés · 2026
The market
French fundraising, by year
€bn raised (PE + infrastructure)
Two consecutive growth years while global fundraising contracted — France raised against the tide. Of the 2025 total, €14.0bn went to infrastructure funds and €28.9bn to private equity excluding infrastructure.
Source: France Invest / Grant Thornton, activity studies 2024 and 2025
Divestments at historical cost, by year
€bn divested
2024 exits jumped 42% and 2025 added 9% more, but on fewer deals (1,232 vs 1,316) and with value driven by continuation funds. The liquidity story LPs hear in France is better, not yet good.
Source: France Invest / Grant Thornton, activity studies 2024 and 2025
The French LP landscape
Who funds French private equity
| LP fact | Figure | Read |
|---|---|---|
| Share of 2024 French fundraising that came from abroad | 56% | French funds raise internationally as a matter of course — your LP meetings are multilingual |
| Bpifrance commitment capacity | €57bn | Across 650+ funds — the single most important French LP, ranked No.1 capital investor in Europe in 2024 |
| Raised from individuals in 2025 | €3.1bn (+8%) | Life-insurance subscriptions up 25% to €2.6bn — retail is a growing French channel |
| French secondaries market, 2025 | €12.2bn | Across 49 transactions — a liquidity layer of its own |
| Institutional investors in 2024 | Returned | Back as subscribers after a weak 2023, alongside entrepreneurs, HNWI and family offices |
Source: France Invest / Grant Thornton activity studies · Bpifrance Limited Partners
IR practice in France
The frameworks your reporting is judged against
ESG reporting framework
France Invest
Defines the ESG indicators portfolio companies should report, with a PwC co-authored guide and standard ESG questionnaires. French LPs expect your reporting to map to it.
France Invest / PwC, Guide ESG Capital Investissement · 2018–19
DIC / PRIIPS guide
Dec 2024
France Invest's standardised performance-scenario and fee tables for French fund marketing documents. If you market in France, your DIC tables follow this.
France Invest, Guide DIC PRIIPS · 2024
First PE association as UN PRI Network Supporter
UN PRI
France Invest holds the position and publishes an annual sustainable-development report — the backdrop to why ESG questions arrive early in French DDQs.
France Invest · ongoing
What this page does not claim
- No France-specific dry powder figure from a named publisher was found — global Preqin/S&P figures only. Stated here rather than estimated.
Other regional data rooms
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