Inside Private Equity - November 26, 2025 issue

This episode of Inside Private Equity explores several practical ways to invest in the real economy, with a focus on retirement, evergreen funds, the secondary market, entrepreneurs, and artificial intelligence. Frédéric Stolar begins by discussing the J-curve, a classic phenomenon in private equity linked to front-end fees and the conservative valuation of early-stage investments. He explains why this curve can pose a problem in evergreen funds, where investor inflows and outflows occur continuously, and emphasizes the importance of fully understanding how these products are structured. He also details the benefits of incorporating evergreen funds into a retirement savings strategy, particularly due to the long-term time horizon, the tax advantages of PER the power of compound interest.The success story focuses on the Premium Group, a French wealth management firm founded by Olivier Farouz. With over 150,000 clients, €19 billion in assets under management, and strong organic growth, Premium exemplifies the transformation of wealth advisory services through digitalization, industry consolidation, and private equity support. Olivier Farouz reflects on the successive contributions of Montefiore, Eurazeo, and then Blackstone, and on the ambition to make Premium a European leader in wealth management. In the “Au cœur des fonds” section, Briac Houteville, Managing Director at Future Standard, analyzes the rise of the private equity secondary market. He explains how this market enables institutional investors to manage their liquidity, diversify their investment horizons, and build portfolios more quickly. He also highlights the appeal of the mid-market, which is undervalued compared to large-cap companies and rich in value creation opportunities.Thibault Mortelecq’s trend column is aimed at business leaders and professionals. He compares investing in private equity as an individual versus through a company, highlighting the impact of taxation, unrealized capital gains, and capital accumulation contracts. His key message: private equity can become a powerful wealth structuring tool, provided it is approached with a long-term perspective and supported by expert guidance.The show’s expert, François Candelon of seven2, analyzes the role of artificial intelligence in value creation. He explains how AI is transforming operational processes, improving the performance of portfolio companies, and becoming an essential criterion in investment analysis. In his view, the private equity of tomorrow will be both more technological and more human.Finally, the “Investors’ Voices” segment features Xavier Ducourau and Loïc Ronzano, founders of Magdala. They explain how they assist business leaders and senior executives with their private equity allocations, using an approach based on education, consistent investing, diversification, and tailoring to each client’s wealth profile.