May 2026
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Largest Asset Management Public Companies in France
Benchmark revenue and EBITDA valuation multiples for public comps like
Amundi, Klepierre, Compagnie du Cambodge, Covivio and Gecina.
 | Amundi resulted from the merger of the asset manager businesses of French banks Credit Agricole and Societe Generale in 2010. In 2017, it expanded into Italy, Germany, and Austria by acquiring Pioneer Investments, which had previously been UniCredit's asset manager. France accounts for just under half of assets under management, while Italy and the rest of Europe contribute about 30% combined. Assets from Asia are growing rapidly and contribute just shy of 20%. Amundi is the largest European asset manager and a top 10 asset manager globally. Credit Agricole remains a controlling shareholder with a 70% stake. | $101 | +22% | $21B | $18B | 2.4x | 6.7x | ||
| Klepierre is a French real estate company with a focus on the European retail property market. The company generates the vast majority of its revenue from the rents received from its shopping centres. The company also operates development, refurbishment, and extension programs in its shopping centres. By geography, maximum of the shopping centres are located in France and Belgium, with the others in Scandinavia, Italy, the Netherlands, Iberia, Germany, and elsewhere. The tenants include large retail companies. | $41 | +2% | $12B | $21B | 11.2x | 9.2x | ||
| Compagnie du Cambodge is a holding company that manages portfolio of investments. | $120 | +6% | $7B | $6B | 36.0x | 102.3x | ||
| Covivio SA is a French real estate investment trust involved in the ownership of properties mainly in France, Italy, and Germany. The majority of the properties in the company's real estate portfolio are office buildings located in Paris and Milan. German residential properties also represent a significant percentage of its total assets. Fonciere des Regions derives nearly all of its revenue in the form of rental income from the ownership and maintenance of its portfolio of properties. French offices generate the majority revenue for the company, while Italian office buildings and German residential buildings in Berlin, Hamburg, and Dresden also contribute sizable income streams. | $64 | +5% | $7B | $18B | 11.3x | 11.5x | ||
| Gecina Nom is a French Real Estate Investment Trust with assets located in Paris, France, and the surrounding region. The majority of Gecina's real estate property portfolio is comprised of office buildings with residential properties also making up a substantial percentage. The majority of Gecina's properties are located in the City of Paris, while others are also located in the Paris region and other French cities, such as Lyon. Gecina generates revenue from rental income and the sale of its real estate properties. The majority of this rental revenue is derived from its office buildings. Gecina's customers and occupants include businesses, students, and individuals. It also manages the construction, redevelopment, and environmental operations of its assets. | $85 | -24% | $6B | $14B | 14.2x | 20.3x | ||
| Covivio Hotels is engaged in the real estate sector. The company functions as a real estate investment trust, with special emphasis in the holding and management of real estate assets particularly in the hotel sector. Its investment portfolio includes hotels, massage therapy institutes, clinics, garden centers and leisure villages located in Europe. | $27 | +7% | $4B | $7B | 8.5x | 11.7x | ||
| Wendel SE is a long-term, private equity investment firm that focuses on Africa, North America, and Europe. Over a third of the company's outstanding shares are concentrated in family wealth, which shares its name with the company. Its principal investments are in mobile telephone infrastructure, packaging and labels, paints, coatings and finishing products, and security services. It has two operating segments principal investments portfolio and private asset management platform which includes IK Partners - European private equity firm. The principal investments portfolio includes Bureau Veritas, Stahl, Scalian, CPI, ACAMS, Tarkett and Globeducate. | PE & VC+1 | $105 | +6% | $4B | $8B | 0.9x | 4.8x | |
| Tikehau Capital SCA is an asset management and investment group that manages billions of assets and shareholders' equity. The group invests in various asset classes private debt, real estate, private equity, and liquid strategies including through Tikehau IM an asset management subsidiary that operates on behalf of institutional and private shareholders. | $21 | -6% | $4B | $6B | 7.9x | 18.2x | ||
| Eurazeo SE is an investment holding company operating as a conglomerate of four private equity segments. The company makes investments across a diverse array of industries and asset sizes, mostly in Europe. Eurazeo Capital, the company's greatest revenue contributor, makes investments in medium and large-sized companies above a certain asset threshold. Its other divisions consist of investments in small- and medium-sized companies, provide growth capital to smaller-sized enterprises, and make investments in real assets. The company is increasingly expanding into the Chinese, Brazilian, and American markets. Eurazeo measures performance by changes in net asset value. | PE & VC+1 | $54 | -24% | $3B | $5B | 9.9x | (12.8x) | |
| Altarea SCA is a real estate investment trust predominantly engaged in the acquisition, development, and management of properties throughout Western and Southern Europe. The company's real estate portfolio is composed of residential, retail, office, and mixed-use spaces. Altarea derives the majority of its revenue from rental income related to the leasing of its real estate assets. Its operating segments are; Retail; Residential; Business property; New businesses; and Others. Maximum rental income is generated from the Retail segment which consists of shopping centers under management or development. Geographically, it generates maximum revenue from France and the rest from Italy, Spain, and other regions. | $127 | +7% | $3B | $6B | 1.8x | 16.0x | ||
| Moncey (Fin) Nom SA formerly Moncey (Financiere) is a holding company that manages a portfolio of investments. The company holds approximately 42% of the industrial and financial company of Artois. | $154 | +21% | $3B | $3B | 1130.4x | 1907.8x | ||
| Antin Infrastructure Partners specializes in the management of investment funds dedicated to infrastructure companies operating in the energy and environment, telecommunications, transportation, and social infrastructure sectors. It manages and advises funds that invest in infrastructure companies in Europe and North America across its Flagship, Mid Cap, and NextGen investment. The company operates in three geographical locations: France, the United Kingdom, and Luxembourg, with the majority of its revenue coming from France. | $11 | -13% | $2B | $2B | 5.0x | 8.5x | ||
| Argan is a French real estate company. It specializes in the development and rental of premium logistics platforms for leading companies. The company develops and rents premium warehouses. It offers warehouses such as Dry products, Temperature controlled, positive cold storage, frozen storage, dual or triple temperature, and e-commerce. | $72 | -4% | $2B | $4B | 14.2x | 11.4x | ||
| Peugeot Invest is an investment company. It holds interests in several industrial companies; however, PSA Peugot Citroen group is its main asset. The group invests in other opportunities for diversification purposes. Traditionally, the company seeks to be a long-term minority shareholder and invest in companies with similar characteristics. Portfolio companies tend to be family-owned and among the leading players in their industry. Other investments include private equity funds that FFP makes co-investments alongside. For companies within its portfolio, the company takes a seat on the board of directors or supervisory boards to take on an active role within the investee. | $73 | -14% | $2B | $2B | 7.9x | 9.3x | ||
| Icade is a French real estate investment trust involved in the ownership and management of commercial property around Paris. The vast majority of Icade's real estate portfolio is split between office and business park properties. Nearly all of these are located in Greater Paris with roughly half residing in the inner and outer rings of the metro area. Icade derives majority of its revenue from its Property Development division through the sale of real estate. Rental income from short- to mid-term leases out of its Property Investment division also represents a substantial revenue stream. Institutional investors, private investors, and buyers represent fairly equal parts of the company's customer orders. Icade also has holdings in healthcare properties outside of the Paris region. | $24 | -15% | $2B | $6B | 3.7x | 15.8x | ||
| Viel & Compagnie is a France-based investment company. It invests for the long term in companies operating in the financial sector. This is designed to speed up their growth and development and make them leaders in their areas of business. The group consolidates two majority interests in listed companies and one equity-accounted minority interest in a private bank. These three core businesses consist of interdealer broking, through Compagnie Financiere Tradition; online trading, through Bourse Direct; and SwissLife Banque Privee, a private bank. | $22 | +20% | $1B | $1B | 0.8x | 3.9x | ||
| Mercialys SA is a real estate company based in France and Europe. The firm and its subsidiaries own and manage shopping centers in France. The company has developed and promoted the G LA GALLERIE brand for all its shopping centers. The company mainly operates in France. The company is based on sustainable value creation through investments in medium-sized properties. | $14 | +8% | $1B | $3B | 10.6x | 15.5x | ||
| Frey SA develops, owns and manages commercial real estate assets primarily located in France. The company is a participant in the new-generation Retail Parks. Its business activities include the development of new or regenerated assets, acquisition of assets and urban renewal. FREY has created and designed SHOPPING PROMENADE, an outdoor shopping mall concept. | $40 | +24% | $1B | $3B | 9.9x | 13.3x | ||
| ALTAMIR is a France-based asset management company. Its key business involves enhancing the investor's fund value through long-term capital growth. To achieve its objective, it invests in companies with high growth potential across various sectors such as telecom, media, technology, retail and consumer, healthcare, Fund Investments, and financial services. Its strategy also involves investing specifically across the European mid-market, North America, and other emerging markets such as China, India, and Brazil. | $27 | -16% | $994M | $1B | 20.3x | 27.5x | ||
| Institut de Developpement Industriel SA is a France-based investment capital company that owns shares in medium-sized companies. It invests around 25-70 million euros in small and mid-cap companies valued at approximately 10-150 million euros, and close to 250 million euros alongside co-investors. The group offers flexible investment support for entrepreneur's growth plans, as majority or minority shareholders. | $85 | 0% | $610M | $645M | 6.0x | 407.2x | ||
| Patrimoine et Commerce is a real estate company engaged in the acquisition, development, and operation of commercial real estate properties in France. It operates a portfolio of real estate assets located in high-attraction areas in the suburbs or centers of medium-sized cities. The company's property portfolio includes shopping malls, supermarkets, shops, and business parks. | $27 | -1% | $447M | $923M | 3.1x | 12.7x | ||
| Immobiliere Dassault SA is a France-based real estate company. It owns and manages the office and residential real estate properties. The company's objective is to progressively grow its real estate portfolio in the prime sector of Paris, with a medium and long-term heritage focus, focusing mainly on high-quality office and retail properties. | $58 | -2% | $439M | $829M | 20.6x | 18.8x | ||
| ABC arbitrage SA is a France-based company engaged in the design of arbitration strategies in European and American financial markets. The group conducts two types of arbitrage strategies, including arbitrage without market risks, which exploits opportunities that are independent of directional or event risks, and arbitrage with market risks, where various risks involved are systematically identified and hedged using appropriate instruments. ABC Arbitrage also provides asset management services to institutional clients and advisory services for third-party institutional clients or qualified investors. The company's funds are managed by ABC Arbitrage Asset Management. | $6 | -15% | $357M | $360M | 5.2x | 11.2x | ||
| Atland operates in the real estate sector. The company is a promoter, investor, and an asset manager in the field of real estate. The company operates in the housing, corporate real estate and hospitality markets. | $46 | -15% | $201M | $204M | 1.0x | 10.5x | ||
| Bleecker is a France-based company specialized in real estate investments and management. The company developed on the industrial premises, offices, and logistics platforms market and leads, coordinates, administers and manages the subsidiaries. | $161 | +14% | $181M | $545M | 19.1x | 97.4x | ||
| Société Centrale des Bois et Scieries de la Manche is a Real estate investment trust. It is engaged in the ownership, management, and lease of real estate properties in France. The company acquires and rents commercial and residential properties. | $11 | +12% | $154M | $383M | 14.6x | 15.6x | ||
| Cie Lebon SA concentrates on capital investment, hotels and real estate. | $129 | +24% | $145M | $293M | 2.2x | 13.5x | ||
| Vitura is a real estate company, engaged in the ownership and management of office properties in France. The company's main business is the direct or indirect ownership and management of shareholdings in property companies, which lease the buildings the company owns. | $5 | -33% | $81M | $804M | 11.5x | 31.6x | ||
| Paref is a France based Real Estate Investment Trust which owns and manages real estate business. It owns commercial buildings with a focus on offices and light industrial premises mainly located in the Paris Region. The company also owns the temporary usufruct of residential property in Paris. | $29 | -34% | $44M | $128M | 3.7x | (21.1x) | ||
| Acanthe Developpement SA is a European property company. Acanthe owns a property portfolio mainly located in the central business district of Paris. The company is organized into four principal operating segments Office Space, Commercial Premises, Hotels, and Residential. It has an operational presence in Belgium and France. All of the company's revenue is generated in the real estate sector in France and Brussels. | $0 | -33% | $41M | $41M | 10.4x | (42.7x) | ||
| Audacia SA is an independent management company, specializing in alternative asset classes that support entrepreneurs in their projects innovation and growth. | $5 | +16% | $32M | $26M | 1.4x | 7.4x | ||
| Electricite et Eaux de Madagascar is an international investment company. The company is present in the hotel industry in Cambodia and real estate in the Paris region holds a majority stake in Gascogne and a stake in the Societe Francaise de Casinos. | $2 | -47% | $13M | $5M | — | 1.4x | ||
| Median | $40 | -1% | $1B | $2B | 8.5x | 12.2x |
Financial data powered by FactSet and Morningstar. Valuation multiples as of current fiscal year. For more data, start your free trial here.
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