Episode 3 | Re-up - Interview with Maurice Tchenio

Maurice Tchenio explains that Altaroc funds Altaroc a solution particularly well-suited to the unique characteristics of private equity. Unlike public markets, where it is very difficult for a Fund manager consistently outperform an index, private equity is characterized by a wide dispersion of performance. The best funds—known as top-quartile funds—can generate returns well above the average, with significant variations. It is precisely this characteristic that justifies a rigorous selection approach.Altaroc strategy thereforeAltaroc of identifying the best available managers each year and integrating them into vintage portfolios. This ongoing selection process allows for capturing the long-term outperformance of the industry’s top players, based on a consistent investment discipline.Furthermore, the very structure of Altaroc funds—combining several underlying funds and a co-investment component—helps smooth out the inherent volatility of private equity. Thanks to diversification across multiple managers, investment and distribution flows become more predictable and regular. The principle of averaging then plays a stabilizing role, mitigating individual fund fluctuations. This approach provides both greater visibility into cash flows and greater reliability in expected performance. By combining the selection of top managers with structured diversification, Altaroc a complex and volatile asset class into a more transparent, stable solution tailored to private investors.