The first fund in the Paris financial centre to accelerate the growth of independent asset management companies
PRESENTATION
EMERGENCE entrusts capital to be managed (seed money) to talented and innovative entrepreneurial fund managers in France and Europe, to boost their development and reputation.
GET TO KNOW US
AN ORIGINAL POSITIONING
The SICAV combines the interests of institutional investors and target asset management companies, and offers an original investment solution based on four pillars:
- Rigorous selection of the most promising entrepreneurial fund managers, subject to the final decision of an Investor Committee made up of institutional investors.
- Allocation of seed money (with a lock-up period) in their best-performing and differentiating funds, without taking a stake in the capital.
- Active support for accelerated fund managers to advance their responsible investment practices in order to meet institutional investors’ expectations.
- Encouraging institutional investors to “invest together” through a two-fold innovative involvement:
- Positioning at the heart of the SICAV’s governance:
In addition to their status as shareholders, EMERGENCE offers a unique governance framework to attract institutional investor interest:- Presence on the Board of Directors to define the SICAV’s main strategies.
- Participation in Investment Committees to validate the delegated financial manager’s investment proposals.
- Incentive for accelerated fund managers’ revenue growth:
Institutional investors have access to a dual source of returns to boost the value their investment:- The performance of the sub-fund’s investments in each of the selected funds.
- The sharing of revenues from the growth in assets under management of accelerated asset management companies.
- Positioning at the heart of the SICAV’s governance:
THE STRUCTURE
- SICAV with sub-funds, constituted as a Specialised Professional Investment Company (SIPS), declared to the AMF and whose operating and management rules are set out in its prospectus and articles of association.
- Investment universe: Open-ended UCIs managed by independent asset management companies (more than 50% of the capital is held by the founders), mainly established in France or wishing to establish a presence there.
- Allocation of €30 to €50 million on average per fund over a 4-year lock-up period, with a negotiated revenue-sharing clause on a scope of assets managed by the accelerated asset management company for a total period of 8 years. At the end of the lock-up period, investors recover the amounts invested in each accelerated fund.
- Reinforced governance around a Board of Directors, Investment Committees, an Audit Committee, a Chief Executive Officer and the support of two Committees (ESG and Innovation) in addition to the operational activity of the delegated manager.
To detect, analyse and select the best funds of the most talented and innovative independent fund managers, EMERGENCE draws on the recognised expertise of its delegated manager NewAlpha AM.
THE SICAV’S SUB-FUNDS
The capital contributed by EMERGENCE is invested according to the management guidelines of the sub-funds created:
Absolute return strategies:
Discretionary or quantitative European equity strategies:
Thematic strategies:
OUR STORY
Launch of the EMERGENCE SICAV and its first “Emergence Performance Absolue” sub-fund, on the initiative of its founder Alain Leclair.
1st incubation: Eiffel Credit Opportunities (Eiffel Investment Group).
Launch of the 2nd “Emergence Actions” sub-fund.
“Emergence Performance Absolute” closes its first investment tranche and supports a total of 5 young independent asset management companies on uncorrelated strategies.
New milestone with €350 million committed with the assistance of 15 institutional investors.
“Emergence Actions” closes its investments and supports a total of 6 active managers on the European equity markets.
Launch of the 3rd “Emergence Actions II” sub-fund.
1st investment with a size of €50 million in VIA Smart Equity Europe (VIA AM).
New milestone with €820 million in commitments and the support of 16 institutional investors.
Emergence makes its 20th acceleration investment with Sélection Action Rendement (Dôm Finance).
“Emergence Actions II” closes its investments and supports a total of 6 new active managers on the European equity markets.
Launch of the 4th Emergence Europe sub-fund.
For the first time, EMERGENCE accelerates the fund of a German asset management company: FP Euro Dividenden Staufer (First Private Investment Management).
EMERGENCE launches its 1st thematic sub-fund “Emergence techs for good”.
Crossing of the €1 billion investment threshold, accumulated by Emergence over 10 years of activity.
Emergence techs for good meets the specifications of the Tibi initiative.
THE EMERGENCE TEAM
Joël PROHIN is Head of the Investment Management Department at Caisse des Dépôts. Since 1 January 2023, he has represented Caisse des Dépôts as Chairman of the Emergence SICAV.
Sabine CASTELLAN POQUET is Chief Investment Officer in the Risk Finance Department of the AEMA Group. Since January 2020, she has been Vice-Chair of the Emergence SICAV.
Bertrand du Guerny joined Emergence in 2017 and was appointed Chief Executive Officer by the SICAV’s Board of Directors in January 2018.
He holds a postgraduate degree in Money, Banking and Finance, a master’s in econometrics, and is a graduate of IEP in Aix-en-Provence. After having worked at the Caisse des Dépôts group from 1989 to 1999, notably as a fixed income market manager, Bertrand then advised many asset management players in France and abroad at Investance until 2009. In 2010-2011, he led several committees at the AFG (French Asset Management Association) before joining Hottinguer Bank as Chief Administrative and Financial Officer and Chief Risk Officer in September 2011. Since 2018, Bertrand has been Chief Executive Officer of Emergence.
THE PARTNERS
A long-standing and internationally recognised player in the field of Emerging Managers, New Alpha Asset Management identifies, selects and supports innovative investment funds on behalf of its institutional clients. The company provides a comprehensive range of services in the multi-management field: the design and management of dedicated or collective funds of funds, construction and allocation advice, performance and risk monitoring.
In addition to its expertise, New Alpha AM rigorously applies an original ESG approach to the selection of funds and the management of its portfolios; it can also support the selected management companies in adopting best practices in terms of responsible investment.
The company thus positions itself as a driver of asset management biodiversity by promoting French and European asset management companies.
A long-standing and internationally recognised player in the field of Emerging Managers, New Alpha Asset Management identifies, selects and supports innovative investment funds on behalf of its institutional clients. The company provides a comprehensive range of services in the multi-management field: the design and management of dedicated or collective funds of funds, construction and allocation advice, performance and risk monitoring.
In addition to its expertise, New Alpha AM rigorously applies an original ESG approach to the selection of funds and the management of its portfolios; it can also support the selected management companies in adopting best practices in terms of responsible investment.
The company thus positions itself as a driver of asset management biodiversity by promoting French and European asset management companies.
Paris EUROPLACE is the organisation responsible for promoting and developing the Paris financial centre, in which it brings together all stakeholders. As a primary point of contact with the public authorities and European bodies with which it maintains regular dialogue, Paris EUROPLACE is a driving force for proposals and a mobilising body that serves the market’s collective interests. It is chaired by Augustin de Romanet, Chairman and Chief Executive Officer of the ADP Group.
Paris EUROPLACE is the organisation responsible for promoting and developing the Paris financial centre, in which it brings together all stakeholders. As a primary point of contact with the public authorities and European bodies with which it maintains regular dialogue, Paris EUROPLACE is a driving force for proposals and a mobilising body that serves the market’s collective interests. It is chaired by Augustin de Romanet, Chairman and Chief Executive Officer of the ADP Group.
Finance Innovation, a global competitiveness cluster dedicated to the finance and fintech sector, supports innovative entrepreneurial projects, facilitates the development of SME financing tools, and helps integrate new technologies.
Finance Innovation, a global competitiveness cluster dedicated to the finance and fintech sector, supports innovative entrepreneurial projects, facilitates the development of SME financing tools, and helps integrate new technologies.
The AFG has brought asset management professionals together for 60 years, serving those working in the field of savings and the economy. It is the collective voice of its members, asset management companies, entrepreneurs and subsidiaries of French and foreign banking and insurance groups. In France, asset management is represented by 700 asset management companies, representing €4,800 billion in assets under management and 85,000 jobs, including 26,000 in AMCs.
The AFG is committed to supporting asset management and its growth. It defines common positions, which it holds and defends vis-à-vis the public authorities, contributes to the emergence of solutions beneficial to all players in its ecosystem, and is committed in the interest of all to promoting the industry’s influence, in France, Europe and beyond.
The AFG has brought asset management professionals together for 60 years, serving those working in the field of savings and the economy. It is the collective voice of its members, asset management companies, entrepreneurs and subsidiaries of French and foreign banking and insurance groups. In France, asset management is represented by 700 asset management companies, representing €4,800 billion in assets under management and 85,000 jobs, including 26,000 in AMCs.
The AFG is committed to supporting asset management and its growth. It defines common positions, which it holds and defends vis-à-vis the public authorities, contributes to the emergence of solutions beneficial to all players in its ecosystem, and is committed in the interest of all to promoting the industry’s influence, in France, Europe and beyond.
