Skip to content
Family HoldingPuts its own capital into companiesLAST VERIFIED Oct 2026 · 3 SOURCES

Compagnie Nationale à Portefeuille (CNP)

Wholly owned investment holding of Groupe Frère-Bourgeois

Also known as CNP, Frère family office

Unlisted Belgian investment holding in Loverval controlled by the Frère family through Groupe Frère-Bourgeois; stakes include CLS, Caffitaly, Cheval Blanc and APG SGA.

USEFUL FOR Business owners seeking a long-term partner · Co-investors

Family & background

FAMILY
Frère
HEADQUARTERS
Loverval, Belgium
FOUNDED
1906
OUTSIDE CAPITAL
No — own capital only

Investment approach

SECTORS
Consumer & E-commerceMedia & EntertainmentSpaceSoftware & SaaS
GEOGRAPHY
Europe
ROUTES
Companies (own capital)
STRATEGIES
Private equityDirect investments

Overview

Compagnie Nationale à Portefeuille (CNP) is an unlisted Belgian investment holding based in Loverval (Gerpinnes), registered as a holding company. Alongside Groupe Bruxelles Lambert it is one of the pillars of the Groupe Frère-Bourgeois founded by Albert Frère, and it has been wholly controlled by that group since being taken private in 2011 and buying out BNP Paribas in 2013. Its board includes Cédric, Ségolène and William Frère, with Xavier Le Clef as managing director.

Holdings & investments (10)

  • AKKA Technologies
    since 2020 · Exited
  • AOT Energy
    since 2016 · Exited
  • Groupe M6
    Media & Entertainment · since 2006 · Exited
  • Trasys
    Software & SaaS · since 2006 · Exited
  • Distriplus
    since 1998 · Exited
  • International Duty Free
    since 1991 · Exited
  • Collecte Localisation Satellites (CLS)
    Space
  • Caffitaly
    Consumer & E-commerce
  • Cheval Blanc Finance
    Consumer & E-commerce
  • APG SGA
    Media & Entertainment

People

  • Xavier Le Clef
    Managing Director · source
  • Cédric Frère
    Director (Chairman per import) · source
  • Ségolène Frère
    Director · source
  • William Frère
    Director · source
  • Ian Gallienne
    Director · source
  • Amaury de Sèze
    Director · source
  • Jean-Pierre Millet
    Director · source

Frequently asked questions

Compagnie Nationale à Portefeuille (CNP) is a family holding based in Loverval, Belgium, founded in 1906.

Compagnie Nationale à Portefeuille (CNP) invests on behalf of the Frère family.

Compagnie Nationale à Portefeuille (CNP) invests its own capital into companies. Its stated asset mix includes private equity and direct investments.

Compagnie Nationale à Portefeuille (CNP) invests in Consumer & E-commerce, Media & Entertainment, Space and Software & SaaS.

Key people at Compagnie Nationale à Portefeuille (CNP) include Xavier Le Clef (Managing Director), Cédric Frère (Director (Chairman per import)), Ségolène Frère (Director) and William Frère (Director).

Compagnie Nationale à Portefeuille (CNP)'s holdings and investments include Collecte Localisation Satellites (CLS), Caffitaly, Cheval Blanc Finance, APG SGA, AKKA Technologies, Groupe M6, International Duty Free and Distriplus, among others.

No. Compagnie Nationale à Portefeuille (CNP) invests its own capital and does not raise money from outside investors.