Clearwater International advises the shareholders of CIR Group, Bridgepoint Development Capital, the founders and the management team, on the sale to BlackFin Capital Partners
Clearwater International has advised Bridgepoint Development Capital (Bridgepoint), an international asset management fund, and the managers of CIR Group, the French independent leader in the distribution of investment products based on premium city centre real estate assets, on its sale to investment firm BlackFin Capital Partners (BlackFin).
BlackFin has signed an exclusive agreement to become the majority shareholder of CIR Group, while succeeding Bridgepoint to support the management team led by founders François Larrère and Franck Temim in the next phase of growth.
Founded in 1988, CIR Group has become the independent specialist in investment products based on city centre real estate. The group provides affluent market savers with high-quality turnkey savings products through three offers: CIR for direct investment in “Malraux”, “Déficit Foncier” and “Monument Historique” products, Urban Premium for indirect investment through residential and yield SCPI and Agarim for capitalisation products. The group distributes more than 1,250 products per year through a dense network of more than 800 partners.
Having been backed by Bridgepoint since 2017, CIR Group has more than doubled its revenues reaching over €250m by strengthening its core business and accelerating its diversification, including the integration of Agarim and setting up new partnerships with top tier institutional investors.
BlackFin will become the majority shareholder of CIR Group and its subsidiaries alongside the founders, François Larrère and Franck Temim, and the Management team. Together, they intend to accelerate the group’s development in order to provide more high-quality real estate investment products to retail and institutional investors. This transaction is subject to regulatory approval.