What Inocap Gestion does

INOCAP Gestion is an independent French portfolio management company (Société de Gestion de Portefeuille) founded in 2007 and headquartered in Paris, specializing in ESG/ISR (Environmental, Social, and Governance / Investissement Socialement Responsable) investment management across French small and mid-cap equities, thematic equities, multi-asset strategies, and bond management. Since April 1, 2025, INOCAP has operated as a retained expertise/brand within Groupama Asset Management following a 100% acquisition by Groupama in January 2025 and a subsequent merger by absorption. The firm holds AMF approval under GP-93002 and ORIAS registration 25001691, distributing through approximately 14 named French financial intermediaries including Ageas, AXA Thema, Cardif, Generali Patrimoine, Primonial, Swisslife, Spirica, and Nortia, alongside a dedicated Private Wealth Management service for high-net-worth clients.

The core product offering is a range of eight actively managed funds (INOCAP France Smallcaps, INOCAP Europe Midcaps, INOCAP Multicaps Europe, INOCAP Rendement France Midcaps, INOCAP Disruption Monde, INOCAP Générations Futures Actions, INOCAP Générations Futures Équilibre, INOCAP Obligations Flexibles, INOCAP Patrimoine, INOCAP World Largecaps) plus bespoke discretionary wealth management mandates. Distribution is tiered across Class C units (retail, up to 2.40% incl. VAT), Class I units (institutional, up to 1.20% incl. VAT), and Class P units (institutional, up to 0.92% incl. VAT), with performance fees of 15% (incl. tax) on annual outperformance above benchmark thresholds (e.g., MSCI France Small Cap Net Total Return EUR). Transaction fees were discontinued effective January 1, 2026 per AMF recommendations. There is no proprietary technology platform disclosed; investment processes are discretionary and human-portfolio-manager-led.

INOCAP generates revenue through recurring asset management fees on AUM plus performance fees on outperformance. The go-to-market is primarily channel-based, relying on independent wealth management advisors (CGPs) and insurance wrappers as the dominant acquisition route, with a secondary direct private banking channel. Geographic scope is exclusively France (with explicit exclusions of US, UK, and non-French residents). Post-merger, the firm has consolidated its brand (rebadging QUADRIGE funds to INOCAP in January 2026) and reactivated performance fees on key small/mid-cap products, while integrating into Groupama AM's broader €107.6 billion AUM distribution and operational infrastructure.

Name

Inocap Gestion

Legal name

INOCAP Gestion

Website

https://inocapgestion.com

Company type

Private

Founded year

2007

Operating status

Operating

Headcount range

11–50 employees

Short description

INOCAP Gestion is a Paris-based French asset manager specializing in ESG/ISR French small/mid-cap equity, thematic, multi-asset, and bond funds, serving independent wealth advisors, private banks, and HNW clients through a network of 14+ financial intermediaries, now operating as an expertise of Groupama Asset Management following its April 2025 merger.

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

Insurance-Integrated Wealth Managers (RIA + Insurance Solutions) (FSAAACAI)

akta.pro secondary industries

Advisory Portfolio Management (Non-Discretionary) (FSAAABAD), Multi-Asset Solutions for Institutional (Pensions/Endowments/Sovereigns) (FSAAAJAJ)

Keywords

• Asset management services
• Portfolio management
• Wealth management
• ESG investing
• Fund management

Headquarters

HQ city

Paris

HQ country

France

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Asset Management Fees: INOCAP Gestion generates revenue through management fees charged on assets under management across its fund range. The company manages UCIs (OPCVM/FIA) including equity funds, balanced funds, and bond funds. Fee structures include financial management fees, operating expenses, and performance fees (typically 15% of outperformance above a benchmark threshold).

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels4 records

Core offering

INOCAP Gestion is an independent, ESG/ISR-focused portfolio management company that manages a range of actively managed investment funds (UCIs/OPCVM/FIA) covering French small/mid-cap equities, thematic equities, multi-asset strategies, and bond management. The firm also provides personalized private wealth management services for high-net-worth individuals through a dedicated relationship management team. Following its April 2025 merger with Groupama Asset Management, INOCAP Gestion operates as an expertise of Groupama Asset Management, distributing its 8 funds through a network of independent wealth management advisors (CGPs), banks, insurers, and institutional clients in France.

Product overview

INOCAP Gestion is a fund management company offering a range of 8 actively managed investment funds and private wealth management services. The fund range includes equity funds (INOCAP France Smallcaps, INOCAP Europe Midcaps, INOCAP Multicaps Europe, INOCAP Rendement France Midcaps), thematic funds (INOCAP Disruption Monde, INOCAP Générations Futures Actions), a balanced fund (INOCAP Générations Futures Équilibre), and bond funds (INOCAP Obligations Flexibles). The company also offers personalized Private Wealth Management services for high-net-worth clients. All funds are managed with ESG/ISR principles and the company operates as an expertise of Groupama Asset Management following the April 2025 merger.

Differentiator

Problem solved

Functional benefit

Products and services

• INOCAP France Smallcaps French small-cap equity fund investing in listed French small capitalization companies, benchmarked against MSCI France Small Cap Net Total Return EUR Index.
• INOCAP Europe Midcaps European mid-cap equity fund investing in listed European mid capitalization companies.
• INOCAP Multicaps Europe Multi-cap European equity fund investing across various capitalization ranges in European markets.
• INOCAP Rendement France Midcaps French mid-cap yield fund focused on income-generating investments in French mid capitalization companies, benchmarked against MSCI France SMID Cap Index Net.
• INOCAP Disruption Monde Global thematic equity fund focusing on disruptive technologies and companies driving transformative change worldwide.
• INOCAP Générations Futures Actions Thematic equity fund targeting future generations, investing in companies addressing long-term societal and environmental trends.
• INOCAP Générations Futures Équilibre Balanced multi-asset fund combining equities and bonds to provide diversified exposure to future-oriented themes.
• INOCAP Obligations Flexibles Flexible bond fund offering diversified fixed-income exposure across various maturities and credit qualities.
• INOCAP Patrimoine Balanced fund combining equity and bond investments for moderate risk-tolerant investors seeking capital preservation and growth.
• INOCAP World Largecaps Global large-cap equity fund investing in major international corporations with high market capitalization.
• Private Wealth Management Bespoke wealth management service offering personalized investment advisory, asset allocation, and long-term financial planning for high-net-worth individuals and families, characterized by proximity, accessibility, stability, and continuity.

Quantifiable outcome

• 8 dedicated funds across 4 key segments: small/mid caps, thematic equities, thematic multi-asset, and bond management

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

One partnership is on record.

• Groupama Asset ManagementcoreStrategic or Co-development Partner · 1 April 2025On April 1, 2025, INOCAP Gestion merged into Groupama Asset Management, becoming an expertise of the larger asset manager. Groupama Asset Management is approved by the AMF (GP-93002) and manages €107.6 billion in assets (as at 31/12/2025). The merger accelerated diversification toward CGP clients and added small/mid-cap expertise and private banking capabilities.

Scale indicators4 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Lazard Frères Gestion: Paris-based asset management arm of Lazard, with comparable multi-strategy fund range (equities, fixed income, multi-asset) and strong private banking/CGP distribution in France.
• Tocqueville Finance: French independent asset manager specializing in small/mid-cap equities and value-driven strategies, with a similar CGP distribution focus. Highly comparable given INOCAP's founder Olivier Bourdelas and senior staff previously held roles at Tocqueville Finance.
• Mandarine Gestion: Paris-based independent boutique asset manager with ESG focus and CGP-centric distribution — comparable in size, product mix (European equities, multi-asset, bonds), and ESG positioning.
• Rothschild & Co Asset Management: French asset manager with discretionary/advisory mandates, thematic and equity strategies, distributed via private banks and wealth advisors — directly relevant given INOCAP's sales director previously worked at Rothschild Sélection R.
• Federal Finance Gestion: French asset manager (Crédit Mutuel Arkéa group) with broad product range in equities, multi-asset, and bonds, distributed primarily through French banking and CGP networks.
• DNCA Finance: French independent asset manager with strong CGP and institutional distribution, offering equity, multi-asset, and bond strategies — directly comparable in product breadth, distribution model, and target clientele.
• Gay-Lussac Gestion: Independent Paris-based boutique asset manager with French SMID-cap and thematic equity strategies, distributed primarily to CGP clients — directly comparable in niche and target customer.
• Amiral Gestion: French independent boutique asset manager (formerly Seaport) specializing in European equities and credit, distributed primarily via CGPs and private banks — closely comparable niche positioning and customer segments.

Broad incumbents

• ODDO BHF Asset Management: Franco-German asset manager with broad equity, multi-asset, and private wealth offerings distributed through private banks and CGPs — comparable in distribution strategy and product breadth though larger scale.
• Groupama Asset Management: Parent entity and now host platform for INOCAP Gestion, managing €107.6B AUM with broad institutional and retail capabilities across all major asset classes — operates the broader portfolio in which INOCAP is now an integrated expertise.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/inocap-gestion-une-expertise-groupama-asset-management

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Funding overview

Funding rounds

Investors

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

M&A

Investments2 records

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

Frequently asked questions about Inocap Gestion