Reason 1
Private Equity is one of the best-performing asset classes, both historically and over time
Private Equity is an asset class favoured by institutional investors and the largest family funds.
+16.4% over 10 years for industry, vs. 6.30% for public markets*.
*Source: Pitchbook, December 2023
Performance information is provided for illustrative purposes only.
Past performance is not a reliable indicator of future results.
Potential investors must have the financial capacity and willingness to bear the risks (including the potential total loss of their investment in the fund).
Past performance is not a reliable indicator of future results.
Potential investors must have the financial capacity and willingness to bear the risks (including the potential total loss of their investment in the fund).
Average performance of asset classes worldwide
Positive yields even during recession
Like equities, the Private Equity market is cyclical.
Nevertheless, the lower volatility of this asset class, compared with listed markets, can be explained by a combination of factors:
Nevertheless, the lower volatility of this asset class, compared with listed markets, can be explained by a combination of factors:
Undertaking to retain
In Private Equity, the minimum holding period is 10 years. This gives the managers time to support the underlying companies in creating value.
the positive impact of managers
The managers support the underlying companies by contributing their sectoral and operational expertise to help them grow and generate value.
flexibility
Managers choose the best time to dispose of assets, depending on the company's situation, the market in which it operates and the economic climate.
Examples of value creation levers
A focus on organic growth
Buoyant sectors with strong structural growth
Leading companies gaining market share
Financial and operational support
Optimization of financial structure and provision of substantial resources
All the experience of funds at the service of companies
Efficient governance
Weekly interactions with management
A demanding framework imposed by financial partners for operational/financial excellence
External growth
Acquiring strategic targets to encourage synergies
Profitable transactions
Alignment of interests
Management stake in the company's capital
Fund partners who are also investors
Financial leverage
To finance the initial acquisition
For future build-ups
A long-term investment
Implementation of value creation plans over 5 to 7 years
A valuation that adjusts over time, in contrast to public market volatility
Resale to a strategic buyer
Often identified at the time of acquisition
Prepared to pay a strategic premium
reason 2
Private Equity is an asset class favoured by institutional investors and the largest family funds
Private Equity's share of total assets by investor type
Reason 3
Altaroc gives you access to some of the world's best-performing managers, both historically and over time.
Huge differences in performance between Private Equity managers
The best managers are often hard to find.
Hard-to-identify fund managers
Most of them are based outside France, and are very difficult to access.
Very high fund entry fees for private clients
Depending on the fund, minimum tickets start at $10M and can reach much higher sums.
These managers' funds are generally oversubscribed.
Historical institutional investors reinvest large amounts almost systematically, leaving very little room for new investors.
These managers have no interest in targeting private clients directly
Regulatory constraints and the complexity of fund-raising and administration are real obstacles for these fund managers, who are also looking for investors capable of investing in several funds.
Our criteria for selecting the best-performing fund managers
Maurice Tchenio
Advisory role
50 years' experience in Private Equity
Founder Apax
Founder Altamir
Founder Apax
Founder Altamir
Frédéric Stolar
33 years' experience in Private Equity
Co-founder Sagard Warburg Pincus
Apax
Co-founder Sagard Warburg Pincus
Apax
Louis Flamand
17 years' experience in international funds of funds
Dimitri Bernard
Selection of Indosuez Private Equity funds
Ardian Private Equity funds of funds
Ardian Private Equity funds of funds
Eric Sabia
21 years' experience in Private Equity:
Pwc, Fondinvest, Altamir
Pwc, Fondinvest, Altamir
Our financial criteria
Investment companies that goes back over 25 years
A 20-year track record of high performance
Very low volatility of historical performance
Fund size in excess of €1 billion
Our extra-financial criteria
The quality of our investment strategy and portfolios
Quality, cohesion, reputation and motivation of our teams
Processes, governance and a culture of institutional quality
A proactive approach to succession issues
Significant investments by managers to ensure alignment of interests
These are all key elements to be diligently examined in order to assess the fundamentals of a manager's future performance.
Reason 4
Investing with Altaroc means investing like Altamir, France's leading listed Private Equity company.
Altamir was founded in 1995 by Maurice Tchenio to give all private investors access to the performance of Private Equity via the stock market.
The company is a pioneer in the democratization of Private Equity.
The company is a pioneer in the democratization of Private Equity.
A benchmark player in Private Equity for individuals for over 25 years
Altamir is a listed Private Equity company that invests mainly in Apax funds and co-invest alongside these funds. Altamir is the first evergreen Private Equity fund launched in France.
Altamir currently has approximately €1.3 billion in shareholders' equity
Growth in Net Asset Value of :
+ 12.4%(*) per annum over the last ten years
(*) Performance to 12/31/2023. The performance information provided on this slide is for illustrative purposes only. Past performance is not a reliable indicator of future results.
Altamir chose Altaroc to accelerate its diversification into Private Equity
Altamir has committed 90 million euros to the first three Vintage Odyssey: Odyssey 2021, Odyssey 2022 and Odyssey 2023.
The Vintage Odyssey range meets the very high diversification and investment requirements of Altamir, a sophisticated and highly demanding professional investor.
As for the first two Vintages, Altamir shares some of Odyssey 2023's commitments to give it access, according to its own criteria, to the world's best funds.
Reason 5
Investing with Altaroc means investing simply in a portfolio built on strong convictions.
To achieve the best performance in Private Equity, it is essential to:
01
Know how to select and gain access to the best-performing fund managers,
02
Choose Buyout and Growth funds positioned in growth sectors with low cyclicality, unlike Venture Capital or Turnaround funds, which are too risky and volatile in terms of wealth,
03
Build diversified portfolios across managers, geographies and Vintages to limit risk, without excessive diversification, lest performance revert to the mean.
An investment strategy to drive performance
An efficient diversification
On 5 to 7 managers with a proven track record,
Internationally, with a balanced Europe - North America exhibition and an exhibition in Asia and the Rest of the World,
On more than 150 ETIs per vintage, some of which are co-invested with the managers present on our Vintage website.
A focus on the high-growth sectors of technology, software, telecommunications, healthcare and business services with a digital dimension.
Offer of robust Vintages available every year
100% Private Equity
80% of Vintage invested in 5 to 7 funds managed by experienced teams selected for their track record over time
- a management company in existence for at least 20 years
- a performance objective of at least 2.0x net multiple and 15% net IRR over 20 years
20% in co-investments exclusively invested alongside these funds.
Reason 6
Investing with Altaroc means investing in the real economy.
Total transparency to experience your investment
Every day, Damien Hélène, our editor-in-chief, tells you the stories of the innovative, successful entrepreneurs and companies that make up our vintages.
Visit our newsflow to learn about:
All the companies supported by our managers by fund, geography and sector,
Acquisitions/divestitures/IPOs carried out by each fund
Our reports
A full report on the performance of Vintage is available quarterly on our client Investor Relations pages.
An annual ESG report is also made available to our investors.
Our reports are produced by Altamir's reporting teams. Our investors therefore benefit from 30 years of expertise in institutional reporting.
An annual ESG report is also made available to our investors.
Our reports are produced by Altamir's reporting teams. Our investors therefore benefit from 30 years of expertise in institutional reporting.
Discover our Private Equity ranges
Private equity
Discovery
FCPR Discovery is a private equity product optimized for life insurance and PER. It combines controlled liquidity for policyholders and insurers with flexible underwriting and an immediate call for funds.
Minimum commitment
Amount defined by the insurer
Format
FCPR approved by the AMF
Subscribers
Individuals
Private equity
Odyssey
Every year, we build a highly diversified, high-performance, turnkey global Private Equity portfolio.
MINIMUM COMMITMENT
From €100,000
Format
Subscribers
Sophisticated retail or institutional investors
Private equity
Infinity
The Infinity range is dedicated to institutional investors and large estates.
A turnkey solution inspired by the best practices of pension funds, offering structured, diversified and institutional access to the asset class.
minimum commitment
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Format
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Subscribers
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FAQs
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