3i Group has bought a music and performing arts centre in France on behalf of its European operational projects fund.
The manager said the 3i European Operational Projects Fund (EOPF) has acquired an 80% equity stake in La Seine Musicale from Infravia European Fund II for an undisclosed sum.
La Seine Musicale, which has been operational since 2017, comprises a multi-functional performance complex located on Seguin Island on the Seine river, downstream from central Paris. Its facilities include a 6,000 seat concert hall, a 1,150 seat auditorium, and one of the largest recording spaces in the Paris area, as well as venues for corporate events.
Stéphane Grandguillaume, partner at 3i in charge of origination for the fund, said: “La Seine Musicale is a flagship in the French entertainment industry. As a relatively young asset, it benefits from the latest energy efficiency and soundproofing technologies and its unique position on the Seine river makes it highly attractive.”
3i’s EOPF is a €456m fund investing in operational projects across Europe, with a focus on France, the Benelux, Germany, Italy and Iberia. It targets a wide range of sub-sectors, primarily social infrastructure and transportation, but also telecoms and utilities.
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