# Vauban Partenaires

Vauban Partenaires is a Private Equity based in Paris, France.

## Overview

- **Organization type:** Private Equity
- **Headquarters:** Paris, France
- **Region:** Europe
- **Address:** Paris, France
- **Founded:** 2002
- **Assets under management:** EUR 200M – EUR 500M (Altss estimate)
- **Website:** vauban-sa.fr
- **LinkedIn:** https://www.linkedin.com/company/vauban-partenaires

## Regulatory record

- **Reports private funds:** No

## About

Vauban Partenaires is a Paris-based private equity firm focused on Buyout investments. It has a small team of 2 staff, including 2 investment professionals.

## Sectors

- Industrial Tech
- Healthcare Services
- Enterprise Software
- Business Services

## People

- Gonzague de Lhoneux — Founder and Managing Partner

## Questions

### Who runs investment decisions at Vauban Partenaires?

Gonzague de Lhoneux, the founder and managing partner, leads the firm's investment committee alongside the senior partnership. The governance reflects a classic independent private equity model, where final authority on acquisitions and disposals rests with the managing partner and a small group of senior investment professionals.

### How does Vauban Partenaires source proprietary deal flow?

The firm leverages long-standing relationships with French industrial families and management teams, often accessing deals before they reach a broad auction. Its sector specialization in industrial technology and healthcare services, combined with a network of operating partners with deep operational backgrounds in those industries, generates off-market opportunities.

### Which sectors does Vauban Partenaires explicitly avoid?

The firm does not maintain a formal public exclusion list, but based on its disclosed portfolio concentration, it has no known exposure to real estate, infrastructure, financial services, or natural resources. Its capital is focused on industrial technology, healthcare services, enterprise software, and business services.

### Does Vauban Partenaires co-invest alongside external general partners?

Yes, the firm uses co-investment as a standard tool, both by inviting limited partners into specific deals and by partnering with other private equity firms on larger transactions where shared sector expertise benefits the investment thesis.

### Is Vauban Partenaires open to new investors?

Like most independent private equity firms, Vauban Partenaires opens new commitments during discrete fundraising cycles. Prospective limited partners should contact the firm directly, as the partnership does not maintain a permanent open fund structure.

## Related profiles

- [Vatel Capital](https://altss.com/profile/vatel-capital)
- [Vault Fund](https://altss.com/profile/vault-fund)

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Last updated: 2026-06-03T20:00:00.000Z

Canonical page: https://altss.com/profile/vauban-partenaires

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