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Kartesia
Kartesia was founded in 2013 by Laurent Bouvier and Matthieu Delamaire, who previously co-founded the Altercap funds at LBO France, raising and investing...
Kartesia
Kartesia was founded in 2013 by Laurent Bouvier and Matthieu Delamaire, who previously co-founded the Altercap funds at LBO France, raising and investing over €500 million in corporate credit. The firm is structured as a privately owned European asset manager, not a family office, and its wealth origin is not tied to a single family fortune. The founding partners pooled their own expertise and capital from institutional investors to launch the platform with eight employees. The firm runs four complementary strategies: senior debt, mezzanine, high yield, and CLO liabilities, targeting the European lower mid-market with individual investments from €10 million to €150 million. Kartesia also operates a dedicated structured credit strategy led by Michael Htun, who joined as Head of CLOs and Structured Credit in 2023. The portfolio spans more than 110 companies across the UK, France, Germany, and Belgium, which represent over 70% of borrowers. Confirmed holdings include Pyrex, ADL Biopharma, Van De Velde, and Okechamp. In 2023, Kartesia became the majority shareholder of Flexam, a mid-market debt manager focused on asset-based financing and decarbonization in transportation and logistics. Kartesia manages €8 billion in assets under management with approximately 110 professionals across nine European offices in Brussels, London, Paris, Madrid, Milan, Munich, Amsterdam, Luxembourg, and a second Paris location for Flexam. The team is 40% female. The firm also maintains the Kartesia Philanthropy initiative, which supports children's health and education charities. The most recent operational milestone: the firm's AUM reached €8 billion and it reported over 110 portfolio companies as of early 2025. Kartesia's structural differentiator lies in its multi-strategy platform model — it operates as a specialist private credit manager but with the breadth to offer senior, junior, structured credit, and asset-based lending under one roof. The 2023 Flexam acquisition added a dedicated climate-linked financing capability. The firm's governance includes a board, executive committee, and investment committee, with founding partners still actively involved in investment decisions.
General information
Firm type
Asset Manager
Year founded
2013
AUM
€8 billion (per the firm, 2025)
Location
Region
Europe
Country
Belgium
City
Brussels
Corporate office
Brussels, Belgium
Additional offices
Amsterdam · London · Luxembourg · Madrid · Milan · Munich · Paris
Principals
Laurent Bouvier
Founding Partner
Matthieu Delamaire
Founding Partner
Sector focus
Frequently asked questions
Who runs investment decisions at Kartesia?
Kartesia's investment decisions are overseen by an Investment Committee that includes founding partners Laurent Bouvier and Matthieu Delamaire. The firm also has dedicated strategy heads: Julien Rigon leads France, Guillermo Ferre leads Spain and Italy, Nick Holman leads the UK and Ireland, Benjamin Schall leads the DACH region, and Michael Htun heads the CLO and structured credit strategy (per the firm, 2025).
Does Kartesia operate more like a family office or a private credit fund manager?
Kartesia is structured as a privately owned asset manager, not a family office. It manages capital for institutional investors across multiple funds and strategies, with no single family wealth backing. The firm was founded by former LBO France executives who pooled their industry experience and raised external capital (per the firm, 2025).
What investment strategies does Kartesia offer?
Kartesia runs four complementary strategies: senior debt, mezzanine, high yield, and CLO liabilities. It also has a separate asset-based lending arm through Flexam, which focuses on decarbonization and transportation assets. The firm targets the European lower mid-market with tickets from €10 million to €150 million (per the firm, 2025).
Which sectors does Kartesia typically invest in?
Kartesia's portfolio spans multiple sectors, including healthcare (ADL Biopharma), industrial manufacturing (Pyrex), packaging (Van De Velde), and food processing (Okechamp). The firm does not publish a list of avoided sectors but focuses on diversified lower mid-market companies across Europe (per the firm, 2025).
How is Kartesia related to Flexam?
Kartesia acquired a majority stake in Flexam in 2023. Flexam is a mid-market debt manager specialized in asset-based financing, including finance leases and sale-leasebacks of tangible assets in transportation and logistics. The acquisition added a climate-focused lending capability to Kartesia's platform (per the firm, 2025).
Does Kartesia maintain philanthropic structures?
Yes. Kartesia runs the Kartesia Philanthropy initiative, which partners with and financially supports charities focused on children's health and education. The philanthropic arm is led by partner Charles-Henri Clappier and is separate from the firm's investment operations (per the firm, 2025).
What is Kartesia's known posture on co-investments?
Kartesia structures its investments primarily through its own funds rather than co-investment vehicles. The firm partners with management teams and financial sponsors directly. It does not publicly disclose a co-investment program for external investors (per the firm, 2025).
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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