Altaroc Partners, a pioneering private equity management company
Summary
Written transcription
Eliott Vincent: That's very clear. Yes, there are quite a few obstacles to overcome, as you pointed out. You mentioned the Altaroc Odyssey offer, which is our annual vintage fund of funds. It's true that, in the final analysis, this offer doesn't have much of a history, because it's only been around for four years. And yet, we've had almost 6,000 investors put their trust in us to invest in this product, most of them for their first exposure to private equity. They chose us. How do you explain that?
Dimitri Bernard: First of all, our management company was founded in 1972 by Maurice Tchenio. So, it's one of the oldest private equity management companies in France. But you're right, Vintage Altaroc Odyssey has been around for four years, so it's a relatively short time. But the reality is that, before the advent of players like Altaroc, there wasn't, at least to my knowledge, a portfolio of this quality available at €100,000 or more. So that's one thing, but there are several things that have contributed. There's the fact of giving access to top-quality funds, but there's also the considerable resources that Frédéric and Maurice have put into developing the management company. We've grown to almost 70 people in less than four years. There's a fairly substantial level of experience in the teams. Firstly, the experience of our founders, who between them have over 80 years' experience in private equity, having created their funds and managed them for several years. Our investment team also includes Louis, Louis Flamand, who has 15 or 20 years' experience in private equity. Before that, he was head of Private Equity allocations at Metlife, one of the world's largest insurers. And this experience, this expertise, is to be found in all our teams, whether in the Technology team, the Operations team, the Marketing team or the Distribution team. In any case, it's an expertise - we're also talking about Track Record - that has been tried and tested in all these teams, with many people who are just as passionate about what they do.
Dimitri Bernard: What we're convinced of is that we do indeed have a quality offering, which isn't limited to a single product, but rather to a whole range of services. So, as we've just said, we organize hundreds of webinars and physical events every year. We have a very active Partner Service, with over 1,000 incoming calls per month, so questions are answered, traced and audited. Another fundamental element is the alignment of interests, which is very important in private equity. Well, Frédéric and Maurice invest 33 million euros in each Vintage every year. So if my calculations are correct, in 4 years today, they have invested a total of 132 million euros in their Vintage, not because they are obliged to do so, but because they are convinced that this is a very good allocation of their capital, which I think is also what reassures our distributors and end customers. And finally, it's important to realize that in each Vintage, we also rely on the expertise of the managers we select. So one of our criteria is seniority, i.e. visible performance over several years, i.e. a minimum of 20 years. So if you take a diversified portfolio of 5 or 6 funds, you'll have a cumulative investment experience of 100 to 150 years, with tens of billions deployed and a track record. And that's really what we can rely on. You have a wealth of experience on the part of the funds in our portfolios. And that's one of our strengths.
Eliott Vincent: And perhaps, if I may add one last comment, it's true that the entire sales team also puts a lot of effort into getting in touch with our partners, training them, explaining the specifics of the asset class to them, and also explaining it to their customers. And it's true that this commitment on their side, I think, is very beneficial for everyone. Incidentally, I'd like to thank all our partners who are here during this webinar, because it's true that thanks to them, we were able to win the famous Patrimoniale 2024 "Best Partner Relations" award, and that's really thanks to them. Thank you very much to all of you who are watching us, we're very proud of them. So thank you for that. Dimitri I think we've finished. Thank you very much for answering all these questions. There was a lot to cover, but thank you! I think it went pretty well. Damien, the floor is yours.
Damien Hélène: Yes, thank you very much to all our partners. Thank you very much Eliott. Thank you, thank you Dimitri. We'll be right back for the conclusion with Frédéric.
