# CARMF

CARMF is a Pension Fund based in Paris, France.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Paris, France
- **Region:** Europe
- **Address:** 46 rue Saint-Ferdinand, 75017 Paris, France
- **Founded:** 1948
- **Assets under management:** 7.7B (Altss estimate)
- **Website:** carmf.fr
- **LinkedIn:** https://www.linkedin.com/company/carmf/

## Regulatory record

- **Reports private funds:** No

## About

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.

## People

- Christian Bourguelle — President
- Thierry Lardenois — Former President

## 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.

### Does CARMF participate in fund commitments or only direct deals?

It maintains both a direct equity book and holdings in OPC and mutual funds.

## Related profiles

- [Marks & Spencer (M&S)](https://altss.com/profile/marks-spencer-m-s)
- [Rio Tinto North American Pension Plans](https://altss.com/profile/rio-tinto-north-american-pension-plans)

---

Last updated: 2026-07-08T21:14:23.192Z

Canonical page: https://altss.com/profile/caisse-autonome-de-retraite-des-m-decins-de-france-carmf

Maintained by Altss — https://altss.com — methodology: https://altss.com/methodology