What Essling Capital does

Essling Capital is an AMF-authorised (n° GP-17000016) independent asset management company headquartered in Paris (8-9 avenue Percier, 75008) with a regional office in Lyon, founded in April 2017 as a spin-off from Massena Partners. The firm specialises in unlisted private equity and operates four product lines: Essling Co-invest (minority co-investment alongside leading PE sponsors across Europe and North America, currently in its fourth vintage), Essling Expansion (direct lead-investment fund targeting majority stakes in European growth SMEs in digital, health and B2B services, €3-20M EBITDA, €7-40M tickets), Essling Ambition PME (fund-of-funds into French and European SME-focused PE primaries), and GP-Led Secondaries (added with the January 2025 closing of Co-invest 4).

The firm manages and advises over €650 million in assets under management across Europe and North America, generating revenue through recurring management fees on AUM plus performance-related carried interest on investment returns. Distribution is direct to institutional investors, family offices and high-net-worth individuals, augmented by a preferential partnership with Natixis Wealth Management for private wealth distribution. The company has executed disclosed co-investments alongside sponsors including Sycamore Partners (Staples take-private), HLD (Kiloutou) and LBO France (Crouzet), and through Essling Expansion has taken majority or reference-shareholder positions in companies such as Evolucare, Teknimed, Ubitransport, Chabe, SPVIE Assurances and inWebo Technologies.

Following an April 2021 ownership change — with Domnin de Kerdaniel (formerly of CVC Capital Partners, 3i and KKR) as CEO and Filippo Monteleone (former CEO of Ramsay Générale de Santé) as Chairman of the Supervisory Board — the firm has expanded into healthcare-themed co-investment (2023) and GP-Led Secondaries (2025), while reporting differentiated structural features including 12-month investment periods, ~6-7 year fund duration, and average entry multiples below 7x EBITDA.

Name

Essling Capital

Legal name

Essling Capital

Website

https://esslingcapital.com

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

11–50 employees

Short description

Essling Capital is an independent, AMF-authorised Paris-based private equity asset manager operating co-investment, lead-investment (Essling Expansion), and fund-of-funds strategies, serving institutional investors, family offices and HNW clients across Europe and North America with over €650M under management.

Ownership category

akta.pro rank

Product category

Private Equity Asset Management

NAICS

Portfolio Management and Investment Advice (523940), Other Investment Pools and Funds (5259), Investment Banking and Securities Intermediation (523150)

SIC

Investment Advice (6282), Security Brokers, Dealers & Flotation Companies (6211)

akta.pro primary industry

Impact / ESG Multi-Manager Platforms (FSANAGAJ)

akta.pro secondary industries

Capital Raising Advisory (Equity & Equity-Linked) (FSAEAGAC), ESG Integration / Responsible Investment Funds (Broad ESG) (FSANAJAL)

Keywords

• Private equity management
• Co-investment funds
• Lead investment strategy
• Fund of funds
• Alternative asset management

Headquarters

HQ city

Paris

HQ country

France

HQ region

Europe

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure, Others

Revenue model

1. Management fees and carried interest: Private equity firm generating revenue through management fees on assets under management and carried interest (performance fees) on investment returns from its funds including Essling Co-invest, Essling Expansion, and fund-of-funds vehicles.

Go-to-market motion2 records

Distribution channels2 records

Marketing channels4 records

Core offering

Essling Capital is an independent asset management company that manages and advises over €650 million in unlisted/private equity assets across Europe and North America. It offers Lead Investment via the Essling Expansion fund (majority/minority stakes in small and lower-mid cap growth companies in digital, health, and B2B services) and Co-investment programs (minority stakes in LBOs alongside leading global sponsors), supplemented by fund-of-funds, GP-Led Secondaries, and a healthcare thematic fund for professional investors.

Product overview

Essling Capital is an independent asset management company specializing in unlisted/private equity assets. The firm offers multiple investment strategies including: (1) Essling Co-invest programs - minority co-investment opportunities in LBOs across Europe and North America with rapid deployment; (2) Essling Expansion - a direct Lead Investment fund for Small & Lower-Mid Cap companies in digital, health, and B2B services; (3) Essling Ambition PME - a fund-of-funds providing access to French and European SME-focused Private Equity; and (4) GP-Led Secondaries for liquidity solutions. The firm manages over €650 million in assets across these strategies.

Differentiator

Problem solved

Functional benefit

Brands

• Essling Expansion: Lead Investment fund for Small & Lower-Mid Cap companies in digital, health, and B2B services sectors
• Essling Co-Invest
• Essling Ambition PME

Quantifiable outcome

• Average entry multiple below 7x EBITDA across portfolio
• +4 more outcomes

Named customers6 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Natixis Wealth ManagementcoreChannel Partner/ Reseller/ Distributor · 5 July 2019Natixis Wealth Management established a strong and unique distribution partnership with Essling Capital, with historical ties. Their teams commercialize Essling Capital funds and provide their private wealth clients with privileged and priority access to Essling Capital's funds.

Scale indicators6 records

Recent moves9 records

Expansion highlights6 records

Direct peers

• Montefiore Investment: Paris-based private equity firm focused exclusively on French mid-market services and B2B companies. Closely comparable to Essling Capital's lead-investment strategy under Essling Expansion, targeting similar ticket sizes and EBITDA ranges.
• LBO France: Paris-based mid-market private equity platform operating both direct and fund-of-funds strategies. Highly comparable to Essling Capital as both target French and European SMEs and have co-invested together (e.g., Crouzet via Essling Co-invest 2).
• Tikehau Capital: Paris-based alternative asset manager spanning private debt, private equity, real estate, and capital markets strategies. Comparable to Essling as a French multi-strategy alternatives platform, including having provided structured financing alongside Essling's SPVIE deal.
• PAI Partners: European mid-market private equity firm headquartered in Paris operating buyout and growth strategies. Comparable to Essling on European mid-market focus and the type of lead-investment / co-investment deal profile, though at a significantly larger fund size.
• Siparex: Independent French private equity group with regional offices investing across SMEs and mid-market companies. Comparable to Essling on French SME focus and ticket size, and as an independent regional platform.
• Turenne Capital: Paris-based mid-market private equity firm investing in French SMEs. Comparable to Essling's lead-investment strategy; Bertrand Fesneau (Co-fund Manager of Essling Expansion) previously served as General Manager at Turenne Capital.
• 123 Investment Managers: French independent private equity and private debt manager with strategies covering SMEs, mezzanine, and unit-linked insurance funds. Comparable to Essling as a mid-sized French multi-strategy alternatives manager with insurance-wealth distribution.

Broad incumbents

• Ardian: One of Europe's largest private investment houses with a multi-strategy platform covering direct PE, co-investment, fund-of-funds, private debt, and secondaries — the same multi-manager structure Essling aspires to build, but at materially greater scale.
• Eurazeo: Leading French listed private equity firm with mid- and large-cap buyout strategies plus fund-of-funds and private debt activities. Comparable to Essling on multi-strategy French/European mid-market focus, but at significantly larger AUM.

Others

• Amundi Private Equity Funds: Largest European asset manager's private equity arm. Directly comparable to Essling's fund-of-funds activity, and the source from which Essling recruited its FoF team (Jean-Yves Lagache, Nizar Chayeb) led by individuals managing approximately €5bn.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Essling Capital