Groupama Asset Management

What Groupama Asset Management does

Groupama Asset Management is a Paris-headquartered active asset manager founded in 1993 as a wholly-owned subsidiary of Groupama, the 8th largest French mutualist general insurer. As of 30 June 2025 the firm manages €109.1 billion in assets under management across the major asset classes — equities, fixed income, and alternatives — using a conviction-based active management approach. Approximately one-third of AUM is managed for third-party clients including insurers, mutuals, retirement and provident institutions, financial intermediaries, and individual investors; the remainder serves the parent Groupama group.

The firm's core operating technology is an integrated financial and extra-financial (ESG) research platform that combines internal financial analysis with over two decades of proprietary responsible investment methodology, supporting systematic ESG integration, corporate engagement, and stewardship. Product offerings include diversified multi-asset mandates delivered through open and dedicated fund structures, plus specialized thematic strategies such as Groupama Global Electrification (energy transition super-cycle) and Private Debt (Dette privée) for real-economy financing. INOCAP Gestion operates as a wholly-owned specialized subsidiary under the Groupama AM umbrella.

The business model is recurring-fee based on AUM, with pricing negotiated bilaterally for institutional clients and no public fee schedule disclosed. Distribution is multi-channel: direct institutional sales (primarily France, with active reach into Europe and South America via three international branches), financial intermediary networks, and open-architecture fund platforms. The firm is private, has no public ticker, and reports no external shareholders or external funding rounds in the source data.

Name

Groupama Asset Management

Legal name

Groupama Asset Management

Website

https://groupama-am.fr

Company type

Private

Founded year

1993

Operating status

Operating

Headcount range

251–500 employees

Short description

Groupama Asset Management is a Paris-based active asset manager and wholly-owned subsidiary of French mutualist insurer Groupama, managing €109.1 billion across multi-asset class strategies for insurers, mutuals, retirement institutions, and institutional investors.

Ownership category

akta.pro rank

Product category

Asset Management

NAICS

Portfolio Management and Investment Advice (523940), Portfolio Management and Investment Advice (52394)

SIC

Investment Advice (6282)

akta.pro primary industry

Managed Accounts & Unified Managed Accounts (UMAs) — Multi-Asset (FSAAAJAE)

akta.pro secondary industries

Values-Based/ESG & Impact-Focused RIAs (FSAAACAK), Sustainable/ESG Equity (Active) (FSAAAIAM), Portfolio Management–Led RIAs (Discretionary/Model-Based) (FSAAACAC)

Keywords

• Asset management
• Conviction investing
• ESG integration
• Private debt funds
• Multi-asset portfolios

Headquarters

HQ city

Paris

HQ country

France

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Asset Management Fees: Generates revenue through management fees charged on assets under management. Manages €109.1 billion in assets under management (as of 30/06/2025), with approximately one-third managed on behalf of third-party clients including insurers, mutuals, retirement institutions, and other institutional investors.

Distribution channels3 records

Marketing channels5 records

Core offering

Groupama Asset Management is the dedicated asset management subsidiary of French mutual insurer Groupama, managing €109.1 billion in assets under management as of 30 June 2025, approximately one-third of which is managed on behalf of third-party institutional clients. The firm provides active, conviction-based investment management across major asset classes (equities, fixed income, and alternatives) with integrated financial and extra-financial (ESG) research capabilities, offering both open and dedicated fund structures to insurers, mutuals, pension funds, financial intermediaries, and individual investors.

Product overview

Groupama Asset Management offers a multi-asset class investment management platform with specialized investment themes. The core offering spans major asset classes including equities, fixed income, and alternative investments, delivered through open and dedicated products. Two key specialized expertise areas are Groupama Global Electrification (focused on energy transition and electrification investment opportunities) and Dette privée (Private Debt, providing access to private credit market opportunities). The company operates as a conviction-based asset manager with integrated financial and extra-financial research capabilities.

Differentiator

Problem solved

Functional benefit

Brands

• INOCAP Gestion: Investment management entity operating under Groupama Asset Management's umbrella.

Products and services

• Groupama Global Electrification Investment strategy focused on the electrification of the economy as a multi-decade super-cycle investment theme, targeting companies that benefit from the energy transition. Designed for institutional and professional investors seeking thematic equity exposure tied to the electrification mega-trend.
• Dette privée (Private Debt) Private debt investment strategy providing institutional clients with access to specific market opportunities to support real-economy financing, offering exposure to private credit instruments. Targeted at institutional investors seeking alternative fixed-income sources.
• Multi-Asset Class Investment Management (Equities, Fixed Income, Alternatives) Conviction-based active management across major asset classes — equities, fixed income, and alternative investments — delivered through open and dedicated fund structures. The offering is anchored by an integrated financial and extra-financial research platform and serves insurers, mutuals, pension funds, financial intermediaries, and individual investors.
• Responsible Investment (ESG Integration) Mandates Investment management service applying systematic integration of Environmental, Social, and Governance criteria into company analysis, combined with individual and collective engagement policies with portfolio companies. Designed for institutional and intermediary clients seeking ESG-aligned mandates and long-term sustainable performance.

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.

• INOCAP GestioncoreStrategic or Co-development PartnerINOCAP Gestion is presented as a distinct operational entity within the Groupama AM group, offering specialized investment management services. The subsidiary operates under the Groupama AM umbrella alongside the main asset management operations.

Scale indicators6 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Amundi: Europe's largest asset manager (€2T+ AUM), French-domiciled, multi-asset class with strong ESG and institutional focus. Most directly comparable as a French multi-affiliate model serving insurers, pensions and retail; the natural benchmark for Groupama AM's positioning and likely primary competitor for French institutional mandates.
• AXA Investment Managers: Paris-based asset manager wholly owned by insurer AXA, focused on active multi-asset and ESG strategies for institutional clients. Closely parallels Groupama AM in being an insurer-owned European active manager with deep ESG credentials and third-party institutional growth ambitions.
• Natixis Investment Managers: French multi-affiliate asset manager (€1.3T+ AUM) using a federation model of specialist affiliates — including DNCA, Ostrum, Loomis Sayles. Directly comparable in multi-affiliate structure and French institutional focus; potential acquirer/strategic partner for Groupama AM given ongoing Natixis ownership transition.
• BNP Paribas Asset Management: Large French bank-affiliated asset manager (€500B+ AUM) with strong institutional, multi-asset and ESG offering. Competes for the same French insurer and pension mandates as Groupama AM and represents the bank-owned competitive archetype.
• ODDO BHF Asset Management: Mid-sized Franco-German asset manager focused on active equity, fixed income and private debt. Comparable mid-tier European active manager with specialty themes and institutional client base that overlaps with Groupama AM's third-party mandate target market.
• La Banque Postale Asset Management (LBPAM): French asset manager owned by La Banque Postale with strong mutualist/cooperative heritage and active institutional/retail offering. Closely mirrors Groupama AM in French mutualist DNA, insurer/retirement institution client focus, and ESG positioning.
• DNCA Investments: French mid-sized active asset manager (Natixis affiliate) specializing in conviction-based equity and multi-asset strategies for institutional clients. Highly comparable boutique-style active management model competing for similar French institutional mandates.
• Robeco: Dutch-based mid-large active asset manager (€200B+ AUM) known for strong ESG integration and institutional focus. Comparable mid-tier European active manager with deep sustainability expertise competing for cross-border European institutional mandates.
• Mandarine Gestion: French independent mid-sized asset manager (€10B+ AUM) specializing in conviction-based active equity and ESG strategies. Smaller-scale French active manager with overlapping institutional client base and ESG/sustainable investment positioning.

Broad incumbents

• Allianz Global Investors: Large European asset manager owned by Allianz insurance group, with broad active and passive capabilities. Comparable as another insurer-owned European active manager but operates at significantly larger scale and broader geographic footprint.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/user/Groupamaamtv
• LinkedInlinkedin.com/company/groupama-asset-management
• Instagraminstagram.com/groupamaam
• Xx.com/groupamaam

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries4 records

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about Groupama Asset Management