EMZ Partners

About EMZ Partners

EMZ Partners is a French sponsor-less mid-cap private equity firm with €5.8 billion of assets under management as of December 2024, headquartered in Paris with additional offices in Frankfurt and Madrid. Founded in 1999 by Thierry Raiff, the firm is partner-owned and independent, deploying capital across successive vintage funds with a distinctive sponsor-less mandate that distinguishes EMZ from typical LBO firms. The platform specialises in supporting owner-operator businesses through long-tenure minority equity positions aligned with management succession and growth capital needs.

Investment thesis

EMZ targets European mid-cap companies with €100 million to €1 billion in annual revenue, deploying significant minority equity positions alongside owner-operators rather than taking control through traditional LBO structures. The sponsor-less mandate enables management teams and founding families to retain operational control while accessing institutional capital for growth, succession or partial liquidity needs. Sector focus spans Business Services, Industrials, Consumer, Financials, Healthcare, Software and Energy, with long holding periods aligned with the patient capital nature of sponsor-less investing across multiple economic cycles.

Recent activity

Recent realised exits include Ayming (business services, 2025), Fotofinder Systems (healthcare, 2025), Fauché (industrials, 2024), France Air (industrials, 2024), MCI Group (business services, 2024) and Onet (business services, 2024), reflecting active distribution across the sponsor-less franchise. The platform tracks 6 funds, 39 active portfolio companies and 96 realised exits across a 26-year track record, with the latest vintage actively deploying capital across European mid-market opportunities. Detailed buyer names and multiple data available on Pro at €29/month.