What Atream does

Atream is an independent French real estate asset and fund management company founded in 2008 and headquartered in Paris. The firm specializes in European tourism and hospitality real estate, with a diversified portfolio spanning 300+ assets and over €4 billion in assets under management and advice across five European countries (France, Germany, Netherlands, Belgium, and Italy as of 2026). Atream pioneered the first SCPI (Société Civile de Placement Immobilier) dedicated to hotel real estate in Europe in 2016 (SCPI Atream Hôtels) and subsequently launched SCPI Tourisme & Littoral (2020), SCI Atream Euro Hospitality, and SCPI Carac Perspectives Immo for diversified tertiary exposure. Since 2011, the firm has also invested in tertiary, residential, and vineyard sectors, broadening beyond pure hospitality.

Atream's business model centers on management fees as a percentage of AUM across SCPI, OPCI, and FIA vehicles, supplemented by subscription commissions (up to 2% HT), performance fees, and Club Deal arrangement income. Distribution occurs through multiple channels: direct institutional sales for large investors and dedicated solutions, professional wealth management advisors (CGP), banking networks and private banks for retail SCPI products, and Club Deals for qualified investors. Pricing varies by product — SCPI Atream Hôtels requires minimum €5,000 (5 parts at €1,000), SCPI Tourisme & Littoral minimum €4,000, and SCPI Carac Perspectives Immo minimum €300,000 for institutional access.

Since September 2024, Atream has been majority-owned by Groupe CARAC (a mutual insurance group with €20B AUM), with NextStage AM retaining a co-shareholder position since 2018. Atream is regulated by the AMF (approval GP-13000011) as an AIFM and holds ISR (Investissement Socialement Responsable) labels on multiple funds. In 2025, the firm expanded its strategic footprint by acquiring equity stakes in GL events and the Stade de France operating company, signaling a pivot toward integrated hospitality and event infrastructure ecosystems.

Name

Atream

Legal name

ATREAM

Website

https://atream.com

Company type

Private

Founded year

2008

Operating status

Operating

Headcount range

11–50 employees

Short description

Atream is an independent French asset and fund manager specializing in European tourism and hospitality real estate. It manages over €4 billion across 300+ assets in five countries, offering SCPI, OPCI, and Club Deal products to institutional and retail investors, with majority ownership by Groupe CARAC since 2024.

Ownership category

akta.pro rank

Product category

Real Estate Fund Management

NAICS

Portfolio Management and Investment Advice (523940), Other Investment Pools and Funds (5259)

SIC

Investment Advice (6282), Real Estate Dealers (For Their Own Account) (6532)

akta.pro primary industry

Hospitality (Hotels & Resorts) Asset Management (BPAJAMAE)

akta.pro secondary industries

Commercial Real Estate Asset Management (BPAJAMAB), Real Estate Capital Markets Advisory (Debt/Equity Placement, Refinancing) (BPAJANAE), Real Estate Private Credit (CRE Debt) (FSANADAG)

Keywords

• Real estate fund management
• Tourism investment funds
• Private equity real estate
• Hospitality real estate
• Asset management services

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. Fund Management Fees: Management fees charged on assets under management across SCPI, OPCI, and FIA vehicles. Fees are calculated as a percentage of managed assets.
2. Subscription Commissions: Entry fees on SCPI subscriptions, typically up to 2% HT. SCI Atream Euro Hospitality charges 2% HT subscription commission.
3. Performance/Management Fees: Annual management fees on SCPI funds, typically 12% HT on SCPI Carac Perspectives Immo. Variable management fees based on fund performance.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels4 records

Core offering

Atream is an independent real estate asset and fund management company that designs, manages and distributes regulated collective investment vehicles (SCPI, SCI, OPCI, FPCI, FIA) focused on European tourism, hospitality, tertiary and residential real estate. It serves institutional investors through dedicated solutions and club deals, and retail investors through open SCPI and SCI products distributed via wealth management advisors, banking networks and private banks, with more than €4 billion in assets managed and advised across 300+ assets in France, Germany, the Netherlands, Belgium and Italy.

Differentiator

Problem solved

Functional benefit

Brands

• SCPI Atream Hôtels: First SCPI dedicated to hotel and tourism real estate in Europe, created in 2016
• SCPI Tourisme & Littoral
• SCI Atream Euro Hospitality
• SCPI Carac Perspectives Immo
• SC Carac Perspectives Immo ISR
• SC Générations Immo ISR

Products and services

• SCPI Atream Hôtels Open-ended real estate investment trust (SCPI) dedicated to European hotel and tourism real estate, targeting individual/retail investors with a minimum of 5 parts at €1,000 each (€5,000 minimum), 5.05% distribution rate in 2025 and capitalization of €325,996,200 as of 31/03/2026. Leased under 12-20 year firm leases to operators such as B&B Hotels, Club Med and GL events.
• SCPI Tourisme & Littoral SCPI focused on French coastal tourism real estate within 15 km of the coastline, with a minimum subscription of 4 parts at €1,000 (€4,000 minimum), jouissance from the 1st day of the 4th month following subscription and a recommended holding period of 10 years.
• SCI Atream Euro Hospitality Variable-capital civil real estate company (SCI) dedicated to European tourism real estate, distributed exclusively as a unit-linked investment within life insurance contracts. Carries a 2% HT subscription commission.
• SCPI Carac Perspectives Immo Yield SCPI with variable capital investing in offices, shops, activity spaces, warehouses, leisure and health real estate. Minimum initial subscription of 1,500 parts at €205 (€300,000 minimum), capitalization of €214,628,605 and 4.21% distribution rate in 2025, with 12% HT annual management fees.
• FPCI Atream France Hôtellerie I First French private equity fund (Fonds Professionnel de Capital Investissement) composed entirely of hotels in France, targeting professional investors and offering private equity exposure to French hospitality real estate.
• Club Deals Exclusive investment opportunities in European tourism real estate offered to qualified institutional investors, including recent deals in partnership with major hospitality operators such as B&B Hotels (Berlin City-West, Stuttgart, Verona) and Mama Shelter.
• Dedicated Solutions (Solutions dédiées) Bespoke investment vehicles and dedicated asset and fund management mandates designed for large institutional investors, including pension funds, insurance groups and retirement mutuals seeking tailored European real estate exposure.
• SC Carac Perspectives Immo ISR Unit-linked investment solution focused on ISR-labeled real estate assets, offered in connection with the CARAC partnership, for distribution through life insurance wrappers.
• SC Générations Immo ISR Unit-linked investment solution investing in real estate assets supporting social cohesion and territorial development, distributed as a life insurance wrapper.

Quantifiable outcome

• €4 billion+ in assets under management
• +3 more outcomes

Named customers6 records

Segments5 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Eight partnerships are on record, tiered core and minor.

• GL eventscoreStrategic or Co-development Partner · 1 July 2025Atream and CARAC acquired stakes in GL events (5.3% in Polygone holding, 1.5% in GL events) in July 2025. GL events is a world-leading event management company with 60 venues across France and internationally. Atream gained board seats in both Polygone and GL events.
• Stade de France (SESDF)coreStrategic or Co-development Partner · 1 January 2025CARAC, accompanied by Atream, acquired 30% of SESDF (Société d'Exploitation du Stade de France) in partnership with GL events. Atream holds a seat on the Supervisory Board of the Stade de France operating company.
• NextStage AMcoreStrategic or Co-development Partner · 1 January 2018Strategic partnership formed in 2018 with NextStage AM, a Paris-based independent management company specializing in innovative patient capital development. Both companies share common entrepreneurial DNA. NextStage AM holds a seat on Atream's Board of Directors as Vice-President.
• AccorcoreStrategic or Co-development PartnerLong-standing partnership with Accor, the major global hospitality group, for hotel real estate investments. Atream has supported Accor's growth with various hotel property investments.
• Club MedcoreStrategic or Co-development PartnerPartnership with Club Med for resort investments including Club Med Les Arcs Panorama acquisition. Club Med is a leading international tourism operator.
• Pierre & Vacances - Center ParcscoreStrategic or Co-development PartnerStrategic partnership with Pierre & Vacances - Center Parcs including exclusive negotiations in 2021 alongside Fidera and Alcentra to support the group. Multiple Center Parcs acquisitions (De Eemhof, De Haan, Port Zélande). Atream played key role in successful turnaround of Pierre & Vacances - Center Parcs group.
• B&B HOTELScoreStrategic or Co-development PartnerPan-European partnership with B&B HOTELS, leading midscale hotel operator. Multiple acquisitions including Berlin City-West, Stuttgart Airport Messe, Verona (Italy), and more. 4th B&B hotel held by Atream Hôtels with 12+ year lease agreements.
• Mama ShelterminorStrategic or Co-development PartnerPartnership with Mama Shelter boutique hotel brand for acquisitions including Mama Shelter Lille and Paris La Défense properties.

Scale indicators7 records

Recent moves9 records

Expansion highlights6 records

Direct peers

• Perial Asset Management: Paris-based independent real estate asset manager offering SCPI, OPCI and club-deal vehicles for retail and institutional investors; competes head-to-head with Atream in the same French wealth management distribution channel.
• Sofidy: French retail-led real estate asset manager with a large SCPI book and dedicated real estate funds for institutional clients; directly comparable on retail SCPI distribution via private banks and wealth advisors.
• Paref Gestion: Historic French REIT/SCPI manager operating retail and institutional real estate vehicles; competes with Atream in the same SCPI universe distributed through CGPs and banking networks in France.
• La Française Real Estate Managers: Operates one of the largest SCPI franchises in France through wealth management and private banking channels; a natural competitor to Atream for retail investor capital deployed into French real estate vehicles.
• Novaxia Investissement: French real estate asset manager with SCPI and thematic funds (including a strong hospitality-adjacent tilt); an emerging but comparable French player where Mathilde Krieger previously served as CEO before joining Atream.
• Primonial REIM (Primonial): Major French real estate asset manager running a broad SCPI/OPCI platform and institutional real estate funds; directly comparable to Atream on product mix, distribution through wealth advisors, and focus on long-term French real estate investment vehicles.

Broad incumbents

• AXA IM Alts (Real Estate): Large European institutional real estate investment manager with diversified funds and hotel/tourism exposure; a broad incumbent comparable on scale of AUM, ESG integration and pan-European institutional distribution.
• Amundi Real Estate: Subsidiary of Europe's largest asset manager running a wide range of listed REITs, SCPI and institutional real estate funds; competes with Atream especially on institutional mandates and European real estate fund products.
• Swiss Life Asset Managers (Real Estate): Large European real estate investment manager with pan-European core/core+ funds, including hospitality-tilted strategies; broad incumbent that competes for the same institutional European real estate mandates Atream pursues via Club Deals.

Regional players

• Internos Global Investors: Pan-European real estate asset manager with strong hotel and hospitality sector mandates; operates as a specialist comparable to Atream's tourism focus, with a similarly boutique but institutionally-targeted positioning.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/atream

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

Investments1 record

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

Frequently asked questions about Atream