Our Investment Funds portfolio is shaping according to the redefinition of our strategy initiated in 2021.


Total Exposure
(i.e. NAV + Undrawn Commitments)


management teams



This is the result of the in-depth work of our internal team that analyses the market in a systematic way. Our objective is to detect the best third-party teams and to spot the right market opportunities, while keeping a permanent focus on creating, over the long term, a well-balanced and diversified portfolio in terms of geographies, strategies and vintages.

In line with our long-term Investment Fund strategy, we build up our fund allocation based on five principles:

  1. Extensive analysis of the market
  2. Selection of the best managers
  3. Geographical diversification
  4. Strategy diversification
  5. Vintage investing

We aim, by 2025, to have a geographical diversification as follows:

  • Europe: 40-50%
  • North America: 40-50%
  • Asia: 10-20%

In terms of investment strategies, we ambition to build the following allocation over time, with a good sectorial diversification as well:

  • Buyouts: 40-50%
  • Growth: 20-30%
  • Venture: 10-20%
  • Secondaries/co-investments: 10-20%


GP NameGeographyStrategy
468 CapitalEuropeVC: Early Stage
Alpine InvestorsNorth AmericaBuyout: Mid Cap
Apax Partners FranceEuropeBuyout: Mid Cap
ArmiraEuropeBuyout: Mid Cap
BlackstoneAsiaBuyout: Mid Cap
Bravo InvestEuropeBuyout: Small Cap
Committed AdvisorsGlobalSecondary Funds
Ekkio CapitalEuropeBuyout: Small Cap
Felix CapitalEuropeVC: Early Stage
Five Arrows Multi StrategiesEuropeVC: Multi – Stage
Five Arrows Principal InvestmentsEuropeBuyout: Mid Cap
General AtlanticGlobalGrowth Equity
HeadlineGlobalVC: Multi – Stage
Indufin Capital PartnersEuropeBuyout: Small Cap
Insight PartnersNorth AmericaGrowth Equity
LGT Capital PartnersGlobalSecondary Funds
Mangrove Capital PartnersEuropeVC: Early Stage
New Enterprise AssociatesNorth AmericaVC: Multi – Stage
Quadrille CapitalGlobalVC: Multi – Stage
STG PartnersNorth AmericaBuyout: Mid Cap
Thoma BravoNorth AmericaBuyout: Mid Cap
VenturiAsiaGrowth Equity
Webster Equity PartnersNorth AmericaBuyout: Mid Cap