Over the past 20 years, Private Equity (capital investment in unlisted companies) has become very popular with both the very wealthy and institutional investors (pension funds, insurers, etc.), as it offers double-digit returns and is much less volatile than the stock markets.
At a time when bank passbooks, euro funds and bonds are yielding less than 1%, the most sophisticated American private banks have already migrated 15% of their clients' assets into Private Equity to offer them yield. By contrast, the Private Equity allocation of European private banks is currently below 1%, offering significant opportunities to equip private individuals in search of performance with Private Equity!
Altaroc is the solution that enables wealth management advisors, family offices and private banks to respond with a turnkey offering to the demands of their most demanding customers who want to find yield and invest in the real economy. Accessible from as little as 100,000 euros, this is a 100% digital solution, from product discovery to reporting and paperless subscription. Thanks to technology, customers who invest in Altaroc funds can follow the latest news on all the companies in their portfolios, in real time and with total transparency, on the www.altaroc.pe website.
The genesis ofAltaroc
Frédéric Stolar, a seasoned institutional Private Equity investor for over 30 years, co-founded and managed the Sagard investment fund (€2,000 million) for 20 years. After leaving Sagard, he launched a digital fintech to bring the best of institutional Private Equity to individual clients. To ensure the success of this project, Frédéric chose to join forces with Altaroc Partners SA (formerly Amboise Partners SA), an asset management company founded in 1972 by Maurice Tchenio, one of the pioneers of European Private Equity. In addition to his role as founder ofApax, Maurice Tchenio has been working since 1995, through Altamir, to offer professional-quality Private Equity to individuals via the stock market.
They share a common vision that Private Equity must now be opened up to individuals, a vision shared by the wealth management advisors, family offices and private banks Frédéric met over a two-year period. They all share the same observation: they are unable to structure a first-rate international Private Equity offering, because access to the best funds is extraordinarily difficult, if not impossible, for those who have not known them for a long time, and who do not have sufficient financial resources to commit unit tickets of several tens of millions of euros per fund.
The product Altaroc
Altaroc is a range of vintage funds (Altaroc Odyssey), all built around the same strategy:
- To ensure performance and diversification: 80% invested in 4 to 6 funds selected for their exceptional track record over time and a 20% co-investment pocket invested exclusively alongside these funds;
- Funds mainly focused on buyout and Growth Equity in high-growth sectors: Tech & Telco, Healthcare and Business Services with a digital dimension;
- Geographically diversified funds: Europe, North America and the rest of the world, particularly Asia;
- Tax advantages: no capital gains tax, thanks to the tax status of Altaroc funds (FPCI fiscaux).
The first Vintage Altaroc Odyssey 2021, with a size of €100 million, is already almost fully invested in 4 leading global funds, and 10% in a co-investment. It has been available for sale since October 1, and Altamir - convinced thatAltaroc is the best way to access global Private Equity - has decided to subscribe €30 million to this first Vintage (it will also subscribe significant amounts to the next two). The remaining 70M€ are open to private clients, with the aim of finalizing the commercialization ofAltaroc Odyssey 2021 by December 31, 2021.
"With Altaroc, wealth management advisors, family offices and private banks will finally be able to respond favorably to the demands of their most demanding customers, who want to find returns and invest in the real economy," says Frédéric Stolar, Managing Partner ofAltaroc Partners.
