Alienor Capital

What Alienor Capital does

Alienor Capital is an independent French portfolio management company (Société de Gestion de Portefeuille) founded in February 2007 by Arnaud Raimon and headquartered at 18 Allées d'Orléans, Bordeaux. The firm operates under AMF registration number GP07-000009 and has provided portfolio and fund management services for over 18 years, serving high-net-worth individuals, corporate treasury clients, CGP/CGPI wealth advisors, family offices, and institutional investors across France and (selectively) Europe. US Persons and UK residents are explicitly excluded from the distribution perimeter.

The firm's product suite comprises roughly twelve open-ended funds and two service lines. Core capabilities include flexible allocation funds (Alienor Alter Euro, Alienor Optimal, Alienor Global Dynamic), opportunistic and dated bond strategies (InvestCore Bond Opportunities, InvestCore 2028, InvestCore 2031, Athena Global Dynamic Bond Opportunities), a European dividend-equity fund (Alienor High Dividends Europe), and fund-of-funds wrappers (BeFlex Allocation, Gaïa Equilibres, SMARTPLAN VIP Selector). Service lines consist of discretionary portfolio management mandates (treasury, balanced, dynamic, free, PEA, dividend value, listed real estate, bond) and bespoke dedicated funds for family offices and CGP partners. Investment decisions are supported by research sourced from eight major international research firms; the firm is recognized for fixed-income expertise, having received two Lipper Awards for its InvestCore dated bond range.

Revenue is generated through recurring management fees on funds and mandates, ranging from 0.75% to 2.00% depending on share class and strategy, supplemented by performance fees of 10–15% above composite benchmark on several strategies. The go-to-market is primarily B2B2C: open-ended funds are distributed via referencing relationships with at least seven major French and European insurance wrappers (Cardif/BNP Paribas, AXA Théma, Generali, Swiss Life, CNP, Spirica, Gresham) and wealth platforms (Nortia, Alpheys), as well as through Luxembourg insurance contracts, while mandates and dedicated funds are sold directly to family offices, corporates, and CGP partners. Marketing is layered across LinkedIn, financial press (AGEFI, Les Echos Judiciaires Girondins), industry events (PATRIMONIA, OneLife Investment Forum, BAD+ Art Fair), and cultural sponsorships.

Name

Alienor Capital

Legal name

ALIENOR CAPITAL SAS

Website

https://alienorcapital.com

Company type

Private

Founded year

2007

Operating status

Operating

Headcount range

1–10 employees

Short description

Alienor Capital is an AMF-licensed, independent French portfolio management company based in Bordeaux, founded in 2007 by Arnaud Raimon, managing discretionary mandates and roughly twelve open-ended funds (equities, bonds, multi-asset, fund-of-funds) for HNW individuals, family offices, CGP advisors, corporates, and institutional investors across Europe.

Ownership category

akta.pro rank

Product category

Asset Management

NAICS

Portfolio Management and Investment Advice (523940), Open-End Investment Funds (525910), Other Investment Pools and Funds (5259)

SIC

Investment Advice (6282)

akta.pro primary industry

Specialized/Niche-Vertical RIAs (e.g., Medical, Tech, Executives, Athletes) (FSAAACAL)

akta.pro secondary industry

UCITS / Liquid Alternatives Fund of Funds (FSAHAKAE)

Keywords

• Portfolio management services
• Investment fund management
• Wealth management advisory
• Asset management firm
• Discretionary portfolio mandates

Headquarters

HQ city

Bordeaux

HQ country

France

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Discretionary Portfolio Management: Management fees on discretionary mandates and collective funds (OPC/UCITS) for private clients, corporations, and institutional investors
2. Investment Advisory Services: Investment consulting services provided alongside portfolio management

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels6 records

Core offering

Alienor Capital is an independent portfolio management company that manages open-ended UCITS investment funds and discretionary portfolio mandates for private wealth clients, corporate treasuries, wealth management advisors, and family offices. Its product range spans flexible allocation funds, dated and opportunistic bond funds, European dividend equity funds, and fund-of-funds vehicles, supported by research from eight major international research firms. The firm also creates bespoke dedicated funds and provides tailored management mandates for professional partners.

Product overview

Alienor Capital is an independent portfolio management company offering a diversified range of investment products and services. The core offering consists of open-ended funds (OPCVM) including flexible allocation funds (Alienor Alter Euro, Alienor Optimal, Alienor Global Dynamic), bond funds (InvestCore Bond Opportunities, InvestCore 2028, InvestCore 2031, Athena Global Dynamic Bond Opportunities), equity funds (Alienor High Dividends Europe), and fund-of-funds (BeFlex Allocation, Gaïa Equilibres, SMARTPLAN VIP Selector). Additionally, the firm provides discretionary management mandates and bespoke fund creation services for professional partners and family offices. The product suite covers the full risk spectrum from conservative bond-heavy allocations to dynamic multi-asset strategies with equity exposure up to 100%.

Differentiator

Problem solved

Functional benefit

Brands

• InvestCore: Series of dated bond funds including InvestCore 2028 and InvestCore 2031, following a buy-and-hold strategy to maturity.
• Alienor Alter Euro
• Alienor Optimal
• Alienor High Dividends Europe
• Alienor Global Dynamic

Products and services

• Alienor Alter Euro Flexible allocation (patrimonial) fund invested in bonds, money market instruments, and equities, available to private and professional clients.
• Alienor High Dividends Europe PEA-eligible European equity fund focused on high dividend stocks, assembling a portfolio of EU companies prioritizing elevated and recurring dividend yields.
• Alienor Global Dynamic

Quantifiable outcome

• InvestCore 2028 achieved approximately 5% yield embedded at launch with Investment Grade quality portfolio
• +3 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Twelve partnerships are on record, tiered minor and core.

• Les Vendanges du 7e Art FestivalminorOthers · 8 July 2025Alienor Capital is partner and patron of the 2025 edition of the Les Vendanges du 7e Art festival in Pauillac, a cinema and wine event at the crossroads of cinema and terroir.
• BAD+ Bordeaux Art and DesignminorOthers · 30 May 2024Alienor Capital is official partner of BAD+ Art Fair, Bordeaux's contemporary art fair, demonstrating cultural engagement with the local community.
• OneLifecoreGTM or Marketing Partner · 20 April 2023OneLife organizes the annual Investment Forum bringing together fund managers and insurance intermediaries. Alienor Capital participates annually to present company updates and funds to partners.
• AXA ThémacoreChannel Partner/ Reseller/ DistributorInsurance company referencing Alienor Alter Euro fund for distribution through life insurance contracts
• Cardif (BNP Paribas)coreChannel Partner/ Reseller/ DistributorInsurance company referencing multiple Alienor funds for distribution through life insurance products
• GeneralicoreChannel Partner/ Reseller/ DistributorInsurance company referencing Alienor funds for distribution via life insurance contracts
• Swiss LifecoreChannel Partner/ Reseller/ DistributorInsurance company referencing Alienor funds for distribution through wealth insurance products
• CNPcoreChannel Partner/ Reseller/ DistributorInsurance company referencing Alienor funds for distribution via life insurance
• SpiricacoreChannel Partner/ Reseller/ DistributorInsurance company referencing Alienor Alter Euro fund for distribution
• NortiacoreChannel Partner/ Reseller/ DistributorWealth management platform referencing Alienor funds for distribution to CGP network
• AlpheyscoreChannel Partner/ Reseller/ DistributorFinancial services platform referencing Alienor funds for distribution
• GreshamcoreChannel Partner/ Reseller/ DistributorInsurance partner referencing Alienor funds for distribution

Scale indicators5 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• H2O Asset Management: Independent French asset manager historically known for global fixed income and multi-asset strategies, distributed through CGP networks - comparable independent French manager in overlapping fixed income and multi-asset categories.
• DNCA Finance: Independent French asset manager with multi-affiliate European presence, offering open-ended funds and discretionary management across equities, fixed income, and multi-asset to HNW, family office, and institutional clients - the closest direct comparable to Alienor Capital in business model and product mix.
• Montpensier Finance: Independent French asset manager offering thematic equity, flexible, and bond funds through CGP and life insurance distribution networks - same independent-to-CGP go-to-market motion as Alienor Capital.
• Gay-Lussac Gestion: Boutique French asset manager specializing in European equities and flexible allocation funds, distributed through CGP advisors - directly comparable on independent positioning, fund range, and HNW client base.
• La Financière de l'Échiquier: French independent portfolio management company offering UCITS funds (equities, bonds, multi-asset) and discretionary mandates, with strong brand equity among CGPs and family offices - structurally similar to Alienor's independent distribution-led model.
• Federal Finance Gestion: French portfolio management company offering UCITS funds and discretionary management distributed through Crédit Mutuel Arkéa networks and external CGPs - directly comparable independent manager with insurance/banking distribution.
• Mandarine Gestion: Paris-based independent asset manager focused on European equities and multi-asset funds distributed via CGPs and life insurance contracts - comparable independent positioning and French wealth-management channel focus.

Broad incumbents

• Lazard Frères Gestion: French arm of Lazard's asset management business, offering institutional and retail UCITS plus discretionary mandates to French HNW and institutional clients - broader incumbent competing in the same product categories and distribution channels.
• Ofi Invest Asset Management: Major French asset manager (formed from OFI AM, HSBC GAM France, et al.) with broad fund range distributed through insurance and CGP networks - larger incumbent in overlapping product and distribution space.
• Rothschild & Co Asset Management: French wealth and asset management franchise offering UCITS funds and discretionary management to HNW and institutional clients - larger incumbent with private bank affiliation competing in the same end markets.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/alienor-capital
• Xx.com/AlienorCapital

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 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 Alienor Capital