Investment
funds

INVESTMENT FUNDS PORTFOLIO CONSTRUCTION

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

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, selected 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 selection
5. Vintage investing

We aim, in the medium term, to have a geographical diversification as follows:

• Europe: 40-50%
• North America: 50-60%

NB: our portfolio will still comprise some legacy Asian exposure to decrease overtime.

In terms of investment strategies, we ambition to leverage our expertise and past successes focusing on the healthcare, software and B2B/Manufacturing sectors to achieve the following allocation over time:

• Buyouts: 50-60%
• Growth: 20-30%
• Secondaries/co-investments: 10-20%

NB: our portfolio will still comprise some legacy venture exposure to decrease overtime.