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Smalt Capital
Smalt Capital manages EUR 345M from Marseille as the private-equity arm of Caisse d'Epargne CEPAC, investing in mid-market French companies and…
Smalt Capital
Smalt Capital anciennement ACG Management, est un acteur majeur depuis plus de 20 ans
General information
Firm type
Private Equity
Year founded
2000
AUM
345 million EUR (per the firm, as of December 2025)
Location
Region
Europe
Country
France
City
Marseille
Corporate office
Marseille, France
Additional offices
Nice, France · Ajaccio, France · Saint-Denis de la Réunion, France
Sector focus
Frequently asked questions
Who owns Smalt Capital, and how does that influence its investment approach?
Caisse d'Epargne CEPAC, a regional French savings bank, has owned Smalt Capital since October 2019. The ownership structure embeds Smalt Capital within CEPAC's Mediterranean-basin network, providing portfolio companies with potential banking relationships and giving the firm a geographic anchor that shapes its investment screening — it prioritizes companies headquartered in or expanding through the French Mediterranean arc, Corsica, and La Réunion.
Does Smalt Capital operate only in private equity, or does it have other investment strategies?
Smalt Capital operates two main strategies. Its private-equity practice covers seed, development, and succession-stage transactions across all sectors. In 2022, the firm launched a dedicated renewable-energy infrastructure division that finances projects such as solar and wind developments, typically through vehicles like the FCPR ENERGREEN fund.
What is Smalt Capital's relationship with Région Sud Investissement?
Since 2019, Smalt Capital has advised Région Sud Investissement (RSI) on the administrative management of its loan compartment and provided portfolio monitoring and divestment strategy for the RSI 1 and RSI 2 portfolios, which together have mobilized approximately EUR 172 million from regional and EU (FEDER) sources. Smalt Capital also previously advised Région Sud Tourisme starting in 2014.
What renewable-energy projects has Smalt Capital financed recently?
In May 2025, Smalt Capital participated via its FCPR ENERGREEN fund in a EUR 9 million bond financing arranged by Envinergy for Green Energy 3000 France, a developer of renewable-energy assets. The transaction illustrates the firm's approach of providing structured credit to project developers rather than direct asset ownership.
What are Smalt Capital's AUM and overall capital deployment since inception?
As of December 2025, Smalt Capital reported EUR 345 million in assets under management. Since its founding in 2000, the firm has managed or advised over EUR 1.3 billion across its funds and advisory mandates (per the firm, December 2025).
Which geographic regions does Smalt Capital focus on?
Smalt Capital concentrates on France's Mediterranean basin, Corsica, and the overseas department of La Réunion. While it can invest nationally, its four offices — in Marseille, Nice, Ajaccio, and Saint-Denis de la Réunion — and its CEPAC shareholder relationship reinforce a southern-France and Indian Ocean territorial mandate.
Does Smalt Capital raise capital from external investors?
Yes, Smalt Capital markets its fund range to both private and institutional investors. The firm's distribution partners access a dedicated extranet — relaunched in April 2026 — suggesting a third-party distribution model alongside any capital commitments from its parent, Caisse d'Epargne CEPAC.
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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