Tivoli Capital

What Tivoli Capital does

Tivoli Capital (SARL) is an independent French real estate investment and asset manager founded in 2012 in Marseille by Guillaume Pellegrin, specializing in French regional real estate markets rather than Paris. The firm combines acquisition, structuring, financing, and corporate management of real estate assets with development, renovation, commercialization, and property management services, generating revenue through investment management fees, carried interest, and asset management fees from institutional investors, funds, banks, and real estate companies. It has co-managed nearly €1 billion of real estate assets alongside partners including KKR, The Carlyle Group, Covivio, Primonial, and Groupe CDC, with operational presence across six French metropolises (Marseille, Lille, Toulouse, Nice, Lyon, Montpellier/Aix-en-Provence/Sophia-Antipolis) and select Benelux exposure. The firm operates through three sub-brands: Newton Offices, a coworking and operated-office brand totaling approximately 60,000 m² across France; The Student Hotel (now The Social Hub), a 3,000-bed student housing and coliving venture in the Netherlands and Belgium developed with Carlyle; and TheCamp, a 12,000 m² innovation campus in Aix-en-Provence developed with Caisse d'Epargne Provence Alpes Côte d'Azur and Caisse des Dépôts. The business is run by a compact senior team — President-Founder Guillaume Pellegrin (ex-Carlyle Group, HEC Paris) and Managing Director Anthony Anziani (ex-ADIA and Covivio, joined 2017) — using a relationship-based direct sales motion targeting institutional counterparties and large public/private entities seeking exposure and operational capability in French regional real estate.

Name

Tivoli Capital

Legal name

Tivoli Capital (SARL)

Website

https://tivoli-capital.com

Company type

Private

Founded year

2012

Operating status

Operating

Headcount range

11–50 employees

Short description

Tivoli Capital is an independent French real estate investment and asset manager, founded in 2012 in Marseille, that acquires, structures, finances, and operates real estate in French regional markets alongside institutional investors including KKR, Carlyle, Covivio, Primonial, and Groupe CDC.

Ownership category

akta.pro rank

Product category

Real Estate Investment & Asset Management

NAICS

Portfolio Management and Investment Advice (523940), Nonresidential Property Managers (531312)

SIC

Real Estate (6500), Real Estate Agents & Managers (For Others) (6531)

akta.pro primary industry

Hospitality (Hotels & Resorts) Asset Management (BPAJAMAE)

Keywords

• Real estate investment
• Asset management
• Coworking operations
• Student housing development
• Innovation campus

Headquarters

HQ city

Marseille

HQ country

France

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Investment Management: Acquisition, structuring, financing, and corporate management of real estate assets for institutional investors and funds. Revenue generated through management fees and carried interest on investment performance.
2. Asset Management Services: Development and renovation of buildings, commercialization, and property management services. Revenue from asset management fees charged to property owners and investors.
3. Newton Offices Coworking Operations: Operating coworking spaces under the Newton Offices brand, generating revenue through flexible office space rental to businesses.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels2 records

Core offering

Tivoli Capital is an independent French real estate investor and asset manager that acquires, structures, finances, and manages real estate assets on behalf of institutional investors, funds, banks, and real estate companies, specializing in French regional markets. Its offering spans the full building lifecycle, including development, renovation, commercialization, and property management, supported by three flagship sub-brands: Newton Offices (coworking and operated offices across six French metropolises, approximately 60,000 m²), The Student Hotel (3,000 beds of student housing in Benelux, now The Social Hub), and TheCamp (a 12,000 m² innovation campus in Aix-en-Provence).

Product overview

Tivoli Capital is an independent French real estate investment and asset management firm founded in 2012. Its portfolio consists of three main sub-brands: Newton Offices (a coworking and operated office brand spanning ~60,000 m² across six French cities), The Student Hotel (a student housing and coliving venture in Benelux with 3,000 beds, now rebranded as The Social Hub), and TheCamp (an innovation campus in Aix-en-Provence). These offerings collectively position Tivoli Capital as a specialist in French regional real estate markets with expertise spanning investment management, asset management, and flexible workspace operations.

Differentiator

Problem solved

Functional benefit

Brands

• Newton Offices: Coworking and operated office spaces brand. Nearly 60,000 m² of offices in France including Marseille, Montpellier, Aix-en-Provence, Sophia-Antipolis, Lille, and Lyon. High environmental quality, prime locations, hospitality, flexibility and premium customer experience.

Products and services

• Newton Offices Coworking and operated office brand under Tivoli Capital, providing flexible workspace across major French metropolises including Marseille, Montpellier, Aix-en-Provence, Sophia-Antipolis, Lille, and Lyon, with approximately 60,000 m² of office space (50,000 m² already operational), targeting businesses seeking premium, hospitality-grade flexible office space.
• The Student Hotel (now The Social Hub) Student housing, coliving, and hotel project developed by Tivoli Capital in the Netherlands and Belgium, totaling 3,000 beds, developed in partnership with The Carlyle Group. The asset portfolio and brand were ultimately rebranded as The Social Hub.
• TheCamp 12,000 m² innovation campus in Aix-en-Provence dedicated to innovation and the city of tomorrow, featuring buildings, accommodations, and a hotel; developed in partnership with Caisse d'Epargne Provence Alpes Côte d'Azur, Caisse des Dépôts & Booster for corporate and public sector clients seeking innovative, mixed-use real estate development concepts.

Quantifiable outcome

• Nearly 1 billion euros in real estate assets valued alongside major institutional partners
• +2 more outcomes

Named customers7 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators6 records

Recent moves8 records

Expansion highlights4 records

Direct peers

• Perial Asset Management: Perial is a French independent asset manager specializing in real estate (SCPI, OPCI, discretionary mandates) with a strong regional and ESG focus. Closely comparable to Tivoli on geography, asset class, and independent/regional positioning.
• IWG / Regus: IWG (parent of Regus and Spaces) is the largest global flexible-workspace operator and the most direct competitor to Newton Offices in French coworking markets. Comparable on the operating side of Tivoli's platform.
• Lotus Capital Real Estate: Lotus Capital is a French real estate investment manager focused on French regional markets and value-add strategies. Directly comparable to Tivoli's regional French focus and value-add/asset repositioning approach.
• Paref: Paref is a French SIIC (listed real estate investment company) and asset manager with a long history of investing in French commercial real estate, including regional markets. Highly comparable to Tivoli's positioning as a French-focused, vertically integrated real estate investment and asset management firm.
• 123 Investment Managers: 123 IM is a French independent investment manager operating private debt, real estate, and private equity strategies. It is a relevant peer for Tivoli's independent, multi-strategy French private markets platform, though with a different asset mix.

Broad incumbents

• AEW Capital Management: AEW is a global real estate investment manager with significant French and European real estate activity. Comparable to Tivoli in providing real estate investment management services to institutional clients, though at much greater scale and broader geographic reach.
• Sofidy: Sofidy is one of the largest French independent real estate asset managers (SCPI, OPCI, SCP) with multi-billion AUM. Comparable to Tivoli as a French real estate asset manager serving institutional and retail clients, though at significantly larger scale.
• Altarea Entreprise (formerly Altarea Cogedim): Altarea is a major French listed real estate developer and investor with regional exposure across France. Comparable in combining French regional development with asset management, though at much greater scale and with a primary development focus.

Emerging players

• Antin Infrastructure Partners: Antin is a Paris-based PE firm investing in infrastructure and real assets, with a comparable mid-market French sponsor profile and institutional LP base. Overlaps with Tivoli on real-asset investing and French institutional relationships, though focused on infrastructure rather than core real estate.

Regional players

• Primonial REIM: Primonial REIM is the real estate asset management arm of Primonial, a major French asset manager. Although Tivoli lists Primonial as a client/partner, Primonial REIM is a directly comparable peer in French real estate investment management serving institutional clients, with broader product reach.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

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

M&A

Investments4 records

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

Frequently asked questions about Tivoli Capital