CARAC

CARAC

CARAC was formed in 1924 to provide retirement packages and life insurance to participants in French military conflicts. Michel Andignac acts as Chief Executive Officer while Pierre Lara serves as President. The mutualist structure channels investment returns to sustain benefits for veterans, widows and descendants rather than external shareholders. The firm allocates across fixed income, public equities and real estate to meet Solvency II capital rules. Real estate holdings include direct interests in Center Parcs De Eemhof and Center Parcs De Haan in the Netherlands, Center Parcs Port Zélande, multiple Mama Shelter and Mercure hotels in France, and Club Med Les Arcs Panorama. Private equity exposure covers commitments to Tikehau Defense and Security Fund and Revaia Growth II. Geographic reach centers on France with additional assets in Belgium and the Netherlands. CARAC employs 211 professionals at its Neuilly-Sur-Seine headquarters. It fully owns Selencia and Atream, holds 70 percent of Astoria Group, and maintains a 30 percent interest in the Stade de France operating company. The Fondation d'entreprise Carac, established in 2011, supports veterans' causes and historical memory projects. In February 2026 the firm sponsored a Tier 2 bond issuance roadshow in Paris. CARAC maintains 100 percent ownership of its insurance and real estate subsidiaries while participating in club deals and limited partner commitments alongside external managers such as Tikehau Capital. This hybrid posture allows direct control over member-service real estate alongside diversified fund exposure without external LP fundraising.