Federation Francaise des Societes d'Assurance, Groupement des entreprise mutuelles d'assurances finance news

Between now and 2007, French pension funds Federation Francaise des Societes d'Assurance (FFSA) and the Groupement des entreprise mutuelles d'assurances (GEMA) will invest E6 billion ($7.2 billion) in small and medium size enterprises (SMEs) with high growth potential and innovative businesses. The plan, which was conceived by the Strategic Council for Innovation (SCI), also has the backing of French Minister of Economy and Finance Nicolas Sarkozy. SCI said investments from the pension funds should reach E1 billion ($1.2 billion) by the end of 2005. In comparison, SCI said about E29 billion ($34.8 billion) have been invested in French private equity over the last 12 years...