SWEN CP announces a first closing, bringing its investment capacity to more than €100 million for its SWEN Territoires Résilients 5 fund

Building on the strategy’s proven track record, this fifth fund will invest in profitable, high-growth French SMEs and mid-sized companies through a diversified approach combining primary fund investments (50%), secondary transactions (20%), and minority direct investments (30%). The latter will be executed through the dedicated SWEN Résilience fund, with at least 50% of investments qualifying as sustainable under the fund’s framework. Targeting €200 million in commitments, SWEN Territoires Résilients 5 aims to complete around 30 transactions, including 12 to 15 minority direct investments, with average ticket sizes ranging from €5 million to €10 million

SWEN Territoires Résilients 5 seeks to back the SMEs and mid-market businesses shaping the next generation of resilient and competitive local economies, while supporting one of France’s most significant business succession cycles. As more than 700,000 SMEs, representing approximately three million jobs, are expected to be transferred by 2035, ensuring continuity of ownership and expertise while advancing economic sovereignty and the climate transition has become a critical priority. Drawing on the expertise of its ten-member Private Equity team, led by Laurent Ghilardi, SWEN Capital Partners will support businesses undertaking transformative growth initiatives. Key investment themes include the rebuilding of local industrial value chains, the development of circular economy models, waste valorisation and recycling solutions, and the decarbonisation of industrial activities.

The strategy, which continues to benefit from the support of long-standing partners and investors including Macif, Suravenir and Bpifrance, has raised more than €640 million across its first four vintages and the initial close of its fifth fund. Since its launch in 2015, it has completed more than 130 transactions, including 34 co-investments, with 70% of investments made outside major metropolitan areas, and has helped support the creation of more than 45,000 jobs.[1]

This momentum is underpinned by SWEN Capital Partners’ recognised expertise in the small and lower mid-market segment. In 2026, the firm was selected by the French Pension Reserve Fund (FRR) following a competitive tender process to establish and manage a dedicated fund focused on European SMEs, with 80% of the underlying portfolio invested in French companies. Through its SWEN Territoires Résilients strategy and the dedicated FRR mandate, SWEN Capital Partners has further strengthened its position as a leading investor in this market segment, with €400 million to €500 million of investment capacity expected to be deployed in France over the next four years.