About Massena

Investment company

Founded 27 years ago by Frank Noël-Vandenberghe
Advising families, family offices and institutions investment strategy and on their asset allocation on their
Active across all asset classes, with a focus on global private investments

Key figures

€2 Bn of Assets Under Management
€1 Bn allocated to private investments
30 dedicated professionals

Shareholders

Independent, controlled and managed by our partners

Our DNA

Founded in Lille (France) in 1989 by Frank Noël-Vandenberghe, Massena advises a selected number of family offices and institutions on their investment strategy, and manages a portion of their capital on their behalf. Since its creation, the company has developed significantly and currently manages €2 Bn of assets. Massena has demonstrated over the past 25 years its ability to create long-term value for its investors.

Massena is a pioneer participant in the alternative investment asset class: since its inception, Massena has been involved in more than 60 non-listed operations notably in Private Equity, Real Estate, Agriculture and Private Debt, across various industries and geographies.

In an environment of low interest rates and volatile financial markets, non-listed assets can provide superior risk-adjusted returns and contribute to strong long term performance for our clients.

One of Massena’s greatest assets is its investor base, which is mainly composed of successful entrepreneurs and respected institutions, most of whom being investors since the creation of the company.

Massena’s flexible mandate is designed to allow our team to adjust to changing market circumstances, facilitating the creation of a balanced, complementary portfolio with asymmetric return profile and strong downside protection.

Massena’s flexible mandate is designed to allow our team to adjust to changing market circumstances, facilitating the creation of a balanced, complementary portfolio with asymmetric return profile and strong downside protection.

Our Investment Philosophy

Long Term Investors

We are long term, value investors not traders.

We deploy capital using the same rigorous approach principally through two main programs:

  • In traditional assets: through a portfolio of listed investments, with a focus on family-controlled European midcaps;
  • In alternative assets: through a diversified non-listed investment program in Private Equity, Real Estate and Private Debt.

We complement our long term investing strategy with timely thematic investments, when we identify windows market inefficiencies.

Long-term alpha generation requires not only a clear understanding of global macroeconomic trends, but also a flexible investment mandate in order to select the best opportunities without constraints. Yet, we believe in maintaining a certain degree of concentration within our programs. In our view, over-diversification yields no more than average returns and is the symptom of a lack of conviction.

Massena has built its long term success and reputation by enforcing this investment philosophy through three key pillars:

  • A rigorous and consistent analysis process in order to identify the most attractive opportunities;
  • A solid investment team of talented individuals with complementary backgrounds;
  • A broad international network of like-minded investors and industry experts, developed over more than 25 years.

Our Values & Our Culture

Our Values

Excellence

We strive to deliver best-in-class investment activities and services to our clients.

Independence

Massena is fully owned by its senior partners, without any ties to any financial institution.

Alignment of interest

We treat our clients’ money as if it were our own and we invest significantly alongside them.

 

Integrity

We uphold the highest standards of integrity, professionalism and confidentiality.

Transparency

We are open and straightforward with our clients about everything that we do, including our compensation structure.

Our Culture

What we look for:

  • Asymmetrical risk-adjusted returns;
  • Being contrarian;
  • Investments with high barriers to entry;
  • Backing entrepreneurs and managers with a clear vision;
  • Solid and enforceable legal structuring.

What we avoid:

  • Financial markets’ volatility;
  • Herd mentality and behavior;
  • Investing in businesses that we cannot understand.