Milleis Banque Privée

Milleis Banque Privée

Milleis Banque Privée was formed following the 2017 carve-out of Barclays' French wealth and investment management division by AnaCap Financial Partners. The transaction created an independent private bank headquartered in Paris, with Nicolas Hubert and Eric Le Brusq — both former Barclays executives — forming the core leadership team. The bank's client base consists primarily of entrepreneur families in France, with a service model centered on holistic patrimonial advisory, tax optimization, and intergenerational transfer planning. The investment strategy operates exclusively on an open-architecture, fund-of-funds basis. Milleis does not manufacture its own pooled products but selects external managers for client portfolios. Asset-class coverage spans private equity buyout strategies — the firm maintains a heavy allocation to European mid-market buyouts — alongside listed equities, fixed income, private real estate, and diversified multi-asset mandates. The private equity sleeve draws from a curated roster of external GPs; specific fund commitments and portfolio companies are not publicly itemized. Geographic deployment concentrates on France and Western Europe, with selective exposure to global equity and credit markets through institutional fund vehicles. Scale metrics remain closely held. Milleis does not publicly disclose total client assets under management or advisory, nor does it report advisor headcount. The firm operates from its single registered office in Paris, with no disclosed international branches. No adjacent vehicles — philanthropic foundations, club-deal platforms, or operating businesses — are publicly linked to the bank. In September 2022, Milleis announced a strategic partnership with BlackFin Capital Partners, with the private equity firm acquiring a majority stake from AnaCap, signaling a new chapter under a long-term, sector-specialist sponsor (per the firm, September 2022). Milleis' architecture is structurally distinct in the French private banking landscape because it functions as a pure distributor without an internal asset management factory. This eliminates the proprietary-product conflicts common at bancassurance peers. The 2022 ownership transition to BlackFin — a specialized financial services investor — also introduces a sponsor with specific asset-gathering expertise, potentially shifting the bank's growth trajectory from organic advisory to an acquisitive consolidation model within France's fragmented independent wealth management sector.