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CARMF
CARMF was founded in 1949 as one of ten professional sections under the CNAVPL umbrella that coordinates retirement coverage for liberal professions.
CARMF
CARMF was founded in 1949 as one of ten professional sections under the CNAVPL umbrella that coordinates retirement coverage for liberal professions. Its mandate centers on the collection and payment of pensions for French doctors, funded through mandatory contributions. The fund allocates across direct equity positions in France, a global OPC and mutual-fund book, and a portfolio of commercial properties in central Paris arrondissements. It also holds energy and raw-materials exposure. Geographic reach remains focused on France with limited international diversification through the mutual-fund sleeve. CARMF reports an estimated 7.7 billion USD in assets. It maintains a social-action vehicle, the Fonds d'action sociale, that provides targeted support to members. No operational events from the last 24 months appear in public records. CARMF operates as a statutory pension section rather than a discretionary family office or asset manager, with governance tied directly to the Ordre des Médecins and CNAVPL coordination.
General information
Firm type
Pension Fund
Year founded
1948
Location
Region
Europe
Country
France
City
Paris
Corporate office
46 rue Saint-Ferdinand, 75017 Paris, France
Principals
Christian Bourguelle
President
Thierry Lardenois
Former President
Frequently asked questions
Who runs investment decisions at CARMF?
Christian Bourguelle serves as current president. Investment oversight falls under the board structure established by the CNAVPL framework.
How does CARMF source proprietary deal flow?
The fund does not pursue proprietary venture flow. Allocations occur through listed markets, mutual funds and direct real-estate acquisitions in Paris.
Is CARMF structured as a single family office or does it operate more like a venture firm?
CARMF functions as a statutory pension fund for liberal doctors, not as a family office or venture vehicle.
Does CARMF participate in fund commitments or only direct deals?
It maintains both a direct equity book and holdings in OPC and mutual funds.
Where does the underlying wealth come from?
Mandatory social-security contributions paid by French physicians fund the schemes administered by CARMF.
Does CARMF maintain philanthropic structures, and how are they separated?
The Fonds d'action sociale de la CARMF provides social support to members and operates as a distinct vehicle within the fund.
What is CARMF's known posture on co-investments alongside external GPs?
No public record indicates participation in external GP co-investments or club deals.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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