# LBO France

LBO France is an Asset Manager based in Paris, France.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** Paris, France
- **Region:** Europe
- **Address:** Paris, France
- **Founded:** 1985
- **Assets under management:** Undisclosed
- **Website:** lbofrance.com
- **LinkedIn:** https://www.linkedin.com/company/102965

## Regulatory record

- **CRD number:** 174900
- **SEC file number:** 802-115079
- **Registration status:** Registered
- **Reports private funds:** Yes
- **IAPD record:** https://adviserinfo.sec.gov/firm/summary/174900

## About

LBO France is a multi-strategy investment platform and pioneer in its ecosystem. After an initial focus on LBO Mid cap, it expanded into Private Equity Small cap and real estate, then Venture and listed-market management. Beyond France it has strong geographic anchors in Italy and Africa through subsidiaries Polis SGR in Milan and CGF Bourse in Dakar.

## Sectors

- Enterprise Software
- Digital Health
- Healthcare Services
- Industrial Tech
- Real Estate
- Luxury
- Consumer

## People

- Robert Daussun — Chairman

## Questions

### Who runs investment decisions at LBO France?

Robert Daussun has served as Chairman since 2018, providing strategic oversight across the platform. Day-to-day investment decisions are delegated to dedicated heads of each strategy vertical — the buyout team, growth equity team, and real estate team each operate with sector-focused investment committees. The firm has historically promoted investment leads internally, with senior partners averaging over a decade of tenure.

### Does LBO France invest outside France?

The bulk of deal activity concentrates on France, with secondary coverage of Southern Europe — particularly Italy and Spain. The real estate practice is almost entirely domestic, focused on Paris and regional French cities. Cross-border platform deals occasionally appear, but deep local sourcing is the firm's structural edge.

### Which sectors does LBO France explicitly avoid?

Public energy, commodities, financial services, and heavy cyclical industrials are generally absent from the portfolio. The firm maintains a stated exclusion on defense and weapons manufacturing. Sector focus skews toward services, consumer, healthcare, and light industrials — avoiding capital-intensive or regulatory-heavy verticals where mid-market firms lack scale advantage.

### How is LBO France's real estate practice structured?

The real estate business runs as a distinct vertical with its own dedicated team and fund series, targeting value-add and opportunistic deals in French commercial property. It operates adjacent to the private equity team, with separate capital pools and investor bases. In prior cycles, real estate vehicles have exceeded €500 million in commitments and focus on Paris offices, logistics parks, and urban residential repositioning.

### What are LBO France's most notable past holdings?

Known portfolio companies across the firm's history include Saur, one of France's largest water and waste management operators; Kiloutou, a major European equipment rental platform; and Camaïeu, a national women's fashion retailer that undergoing restructuring before eventual liquidation. These deals illustrate the firm's long-standing pattern of buying corporate carve-outs and family-founded French businesses.

## Related profiles

- [LB Investment](https://altss.com/profile/lb-investment)
- [LB Private Equity](https://altss.com/profile/lb-private-equity)

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Last updated: 2026-08-11T15:07:19.634Z

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