Carmignac will expand its private markets range with Carmignac ELTIF Evergreen, a semi-liquid open-ended private equity fund, with no minimum investment.
This ELTIF invests across the private equity universe with significant exposure to secondaries, one of the most dynamic segments of private markets today. Secondaries are particularly relevant for evergreen funds given the diversification benefits, enhanced visibility on underlying assets and more efficient liquidity management. The fund has a diversified approach to global private companies with an initial focus on European investment landscape. The European region currently represents an attractive opportunity within secondaries due to the thriving market, supported by lower entry valuations, stable corporate governance frameworks and a growing pipeline of high-quality assets.
Carmignac ELTIF Evergreen builds on the strategy implemented through Carmignac Private Evergreen. The fund has delivered a return of 35% since its launch in May 20241, illustrating the relevance of a selective, disciplined and diversified approach to private equity investing.
With its ELTIF, Carmignac aims to broaden access to this strategy to a wider investor base, while maintaining the successful investment approach, governance and risk-management standards applied to its first fund.
Carmignac’s private equity solutions are managed by the firm’s private equity team, under the leadership of Edouard Boscher, with strong expertise in both investment selection and portfolio construction. The firm also benefits from an exclusive strategic partnership with Clipway, a specialist secondaries firm founded by former Ardian employees, allowing it to access high-quality direct co-investments with a very efficient fee structure to the advantage of underlying investors.
Carmignac ELTIF Evergreen will officially launch on 31 March 2026 but is already available for subscription in Luxembourg, France, Austria, Portugal, Ireland, Germany, Italy, Switzerland, UK, Spain, Belgium, Netherlands, Sweden, Finland, Singapore. Following launch, the fund will offer monthly subscription and quarterly redemption windows.
Maxime Carmignac, chief executive officer of Carmignac UK, comments:
“Private equity markets have long proved popular with investors seeking to diversify away from traditional asset classes but restrictive fund structures meant the asset class was largely reserved for professional investors and financial institutions. Consistent with our commitment to make sophisticated investments available to a wide range of investors, we have taken advantage of developments within the asset class to launch high-quality products. The launch of a second fund, less than two years after Carmignac Private Evergreen, illustrates increasing appetite from our clients for access to this asset class. The new ELTIF fund will allow us to deliver our process within a clear, robust and even more accessible framework.”
Édouard Boscher, head of private equity concludes:
“As private equity markets expand and mature, the secondary market has established itself as a key source of opportunity and performance driver. Its growing depth and the quality of European opportunities currently available allow investors to build diversified portfolios with improved asset visibility, while actively contributing to the development of the European economy. With Carmignac ELTIF Evergreen, our objective is to harness these structural dynamics to generate long-term performance through rigorous selection.”