Turenne Groupe

What Turenne Groupe does

Turenne Groupe is a French independent private equity firm founded in 1999 and headquartered in Paris, positioning itself as the 'Leader indépendant du small cap en France'. It operates through three AMF-licensed portfolio management entities — Turenne Capital Partenaires (1999), Nord Capital Partenaires (2010, Lille) and Innovacom Gestion (2000) — and deploys capital across five core sectors: Healthcare (Santé) via Turenne Santé, Energy & Environment, Hospitality (Hôtellerie) via Turenne Hôtellerie, Industry, and Deeptech/industrial startups via Innovacom. The firm also runs retail-oriented FCPI/FIP vehicles and targets French PME and ETI companies for management buyouts, growth capital, succession/transmission deals, and build-up strategies.

The firm makes money through standard alternative-asset economics: recurring management fees on assets under management across its multiple sector funds and FCPI/FIP vehicles, plus performance fees and carried interest realized through exits. Recent realized exits include the sale of PathoQuest to Charles River Laboratories (10th exit from the Relyens Innovation Santé portfolio, April 2026) and the sale of Kali Environnement to 21 Invest (10th exit from Turenne Emergence's first fund, June 2026), alongside active deployment in new platforms such as Kizeo, Destia, Groupe Phodé, O2D Environnement, TSA Industries (and its TSEIN acquisition), and the newly launched €50M Femtech Île-de-France fund with Région Île-de-France and Université Paris Cité.

The group is led by Christophe Deldycke (Président du directoire of Turenne Capital Partenaires and Nord Capital Partenaires) and Jérôme Faul (Président du directoire of Innovacom Gestion), with sector leadership from Mounia Chaoui (Turenne Santé) and investment directors and partners including Stéphane Saudo, Anne-Sophie Maes, Jessica Barbé, Luis Batista, and Vincent Maisonhaute. Turenne describes itself as an 'Entreprise à mission' with half of its employees based in regional offices, operating as an independent firm with no parent company and a co-investor ecosystem that includes Bpifrance, VYV Group, Relyens, Three Hills, CEGEE Capital, and regional government partners.

Name

Turenne Groupe

Legal name

Turenne Capital Partenaires

Website

https://turennecapital.com

Company type

Private

Founded year

1999

Operating status

Operating

Headcount range

11–50 employees

Short description

Turenne Groupe is a French independent private equity firm managing multiple AMF-licensed funds (Turenne Capital Partenaires, Nord Capital Partenaires, Innovacom Gestion) that invests in small-cap companies across healthcare, environment, hospitality, industry, and deeptech.

Ownership category

akta.pro rank

Product category

Private Equity / Small-Cap Investment Management

NAICS

Funds, Trusts, and Other Financial Vehicles (525), Other Financial Investment Activities (5239)

SIC

Security Brokers, Dealers & Flotation Companies (6211)

akta.pro primary industry

Small-Cap Equity (Active) (FSAAAIAC)

akta.pro secondary industry

UCITS / Liquid Alternatives Fund of Funds (FSAHAKAE)

Keywords

• Private equity
• Small-cap investments
• Fund management
• Portfolio management
• Growth capital

Headquarters

HQ city

Paris

HQ country

France

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Revenue model

1. Management Fees: Annual management fees charged on assets under management across their various funds including Turenne Emergence, Nord Capital Partenaires, Innovacom Gestion, and Turenne Santé. The company manages multiple FCPI/FIP funds for retail investors.
2. Performance Fees / Carried Interest: Carried interest earned on successful exits and realizations from their investment portfolios. Multiple exit announcements (PathoQuest to Charles River Laboratories, Kali Environnement to 21 Invest) indicate realized carried interest opportunities.
3. Fund Investment Advisory: Turenne Santé serves as investment advisor for Relyens Innovation Santé fund, generating advisory fees while contributing to healthcare innovation ecosystem.

Go-to-market motion2 records

Distribution channels2 records

Marketing channels3 records

Core offering

Turenne Groupe is an independent French private equity firm (Société de gestion de portefeuille) managing small-cap investments in France. It invests capital and provides strategic support across healthcare (Santé), energy & environment, hospitality (Hôtellerie), industry, and deeptech startup sectors through multiple AMF-licensed entities including Turenne Capital Partenaires, Nord Capital Partenaires, and Innovacom Gestion. The firm structures LBOs, growth capital, succession/transmission deals, and manages FCPI/FIP funds for retail investors.

Product overview

Turenne Groupe is an independent French investment company (Société de gestion de portefeuille) specializing in small cap investments in France. The company operates through multiple entities including Turenne Capital Partenaires, Nord Capital Partenaires, and Innovacom Gestion. The group offers investment management services across various sectors including healthcare (Santé), energy and environment (Énergie & Environnement), hospitality (Hôtellerie), industry (Industrie), and deeptech startups. Their services include fund management (FCPI/FIP), private equity investments, and portfolio company management. The company does not offer traditional technology products but rather acts as an investment and financial partner to SMEs and mid-market companies.

Differentiator

Problem solved

Functional benefit

Brands

• Turenne Emergence: Investment fund focused on transmission/buyout deals in small-cap companies
• Turenne Santé
• Turenne Hôtellerie
• Nord Capital Partenaires
• Innovacom Gestion

Products and services

• Turenne Emergence

Quantifiable outcome

• Doubled size of Kali Environnement during investment period, achieving 10th exit from first fund
• +2 more outcomes

Named customers3 records

Segments4 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.

• Université Paris CitéflagshipStrategic or Co-development Partner · 9 March 2026Academic partner for Femtech Île-de-France fund, providing scientific expertise through iWISH (Interdisciplinary Institute for Research and Training on Women's Health) and opening research ecosystem for portfolio companies.

Scale indicators9 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Siparex: Independent French regional private equity group (Siparex ETI) with direct overlap with Turenne as both co-investor (in Destia) and competitor on French ETI deals.
• LBO France: Independent French mid-market private equity firm investing across SME/ETI transactions, healthcare, and digital. Directly comparable as an independent French PE sponsor with multi-sector strategies and similar AUM scale.
• Andera Partners: French mid-market private equity and mezzanine sponsor active in SME buyouts and growth capital. Comparable as an independent French mid-market firm with sector-diversified strategies.
• 21 Invest: European mid-market private equity firm that acquired Kali Environnement from Turenne. Comparable as a pan-European mid-market sponsor competing in the same SME/ETI transaction universe.
• Montefiore Investment: French private equity firm focused on SMEs and mid-market companies in services and consumer. Directly comparable in target deal size, sector breadth, and active ownership style.

Broad incumbents

• Ardian: Global private investment house headquartered in Paris with significant mid-market buyout, growth, and fund-of-funds activities. Comparable as a larger French-rooted PE platform with mid-market focus.
• PAI Partners: Pan-European mid-market private equity firm with strong French mid-market presence, often competing on the same SME/ETI LBO universe as Turenne.
• Eurazeo: Major French-listed private investment group with private equity, private debt, and real assets strategies including mid-market and growth. Comparable as a French PE competitor with broader fund scale and listed-company visibility.

Regional players

• ActoMezz (now part of Actis Capital): French SME mezzanine and unitranche provider serving similar SME/ETI transmission deals. Comparable as a complementary capital provider often investing alongside sponsors like Turenne.

Emerging players

• Bpifrance Investissement: French public investment bank actively co-investing with Turenne and running direct SME/ETI funds. Comparable as both a partner and a competitor in French mid-market private equity.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/turenne_capital
• LinkedInlinkedin.com/company/turenne-capital

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries2 records

Funding overview

Funding rounds

Investors

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

M&A1 record

Investments6 records

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

Frequently asked questions about Turenne Groupe