Inside Private Equity - October 15, 2025 issue

In this episode of Inside Private Equity, Frédéric Stolar continues his analysis of evergreen funds—investment vehicles designed to make private equity more accessible through life insurance, offering greater liquidity than traditional funds. He explains the key criteria for selecting a good evergreen fund: the underlying strategy, open- or closed-end structure, liquidity quality, and management of “gate” risk. According to him, these products meet strong demand from private clients but involve a trade-off between liquidity and performance.The success story focuses on Meilleurtaux, which has become a financial services marketplace covering credit, insurance, and savings. Its CEO, Thomas Vendeville, discusses the group’s transformation, its positioning as a trusted third party for individuals, and the role of Silver Lake, which acquired a stake in 2020. Private equity provides Meilleurtaux with financial resources, management discipline, and technological expertise, particularly in artificial intelligence. In “Au cœur des fonds,” Chris Bond of Summit Partners the fund’s strategy, which specializes in technology, healthcare, and services. He emphasizes the importance of the management team, corporate culture, strategic vision, and the ability to grow internationally. AI is seen as a major opportunity, but also as a transformative factor to monitor on a sector-by-sector basis. Louis Flamand then analyzes the impact of the macroeconomic environment on private equity in 2025. Despite the uncertainty linked to trade tensions and tariffs, certain segments remain dynamic, particularly the mid-market. He notes that downturns can offer good investment opportunities, provided one selects solid and differentiated managers. Jean-Charles Simon, General Delegate of Paris Europlace, finally advocates for a retirement system that incorporates more capitalization. In his view, a portion of long-term savings invested in companies, including through private equity, could improve the financing of the economy and the wealth of French citizens. The program concludes with Emmanuel Papadakis Stephanopoli, who explains the role of Village by CA Paris in supporting startups and the gradual convergence between tech entrepreneurs and private equity investors.