Re-Up via Odyssey
The Re-Up program via Odyssey through consistent annual commitment and multi-vintage discipline, the holding company is gradually building up its exposure to private equity.
Once a certain level of maturity has been reached (around year 7), the mechanism allows the first distributions from the initial vintages to contribute to the financing of new capital calls, reinforcing the continuity of the strategy.
Strategic architecture
Consistent annual commitment
The holding company commits to several vintages each year in order to smooth the entry point and ensure that investment is consistent and disciplined.
Time-limited funding effort
The gap between commitments and capital calls allows cash flow efforts to be concentrated in the early years, rather than immediately tying up all commitments.
Progressive self-financing of the portfolio
As the first vintages enter the distribution phase, the cash flows generated can help finance part of the new calls. The holding company thus maintains its exposure while gradually reducing the additional financing effort.
Steering via simulation
The trajectory can be constructed from:
• Available capital
• Target capital at a given time horizon
• Target income
Projections can be expressed as gross, net of income tax, or net distributable to partners. The model distinguishes between company-level performance and the impact of a distribution.
Taxation: gains realized are included in taxable income. Any distribution may result in additional taxation at the personal level.
The advantages for investors
A long-term strategy compatible with a holding company: mobilize surplus cash in a gradual and disciplined manner.
A controllable flow approach: possibility of constructing a trajectory geared towards distributions at maturity (net of income tax/net distributable according to parameters).
Structural diversification: exposure to the real economy, less correlated with listed markets.
This document is for informational purposes only and does not constitute investment advice or personalized recommendations. Private equity involves a risk of capital loss and long-term illiquidity.



