Caisse des Dépôts
Also known as Caisse des Dépôts et Consignations, CDC, Groupe Caisse des Dépôts
French special public institution created in 1816; €320bn of assets under management at end-2025, including about 358 unlisted funds from 168 managers; co-owns Bpifrance.
- HEADQUARTERS
- Paris, France
- FOUNDED
- 1816
- AUM
- €320B (2025)
- OUTSIDE CAPITAL
- No — own capital only
- TEAM LISTED
- 2 people
FOCUS
- STAGES
- GrowthBuyout
- ASSET MIX
- Public equitiesPrivate equityFunds (as LP)Real estateDirect investments
- GEOGRAPHY
- FranceEurope
WHAT IT IS
Government-backed Fund. Public money — a state or EU-backed vehicle investing on behalf of taxpayers, often with policy goals.
- CDC division serving local authorities and local projects with engineering, loans and equity investment; €1.6bn committed across 259 new projects in 2025 and a €9.2bn portfolio at 31 Dec 2025
- French public investment bank, owned 49.18% by the Caisse des Dépôts and 49.18% by the State-owned EPIC Bpifrance (profiled separately)
- Impact investor in infrastructure and energy in emerging countries, created in 2017 with AFD; CDC holds 67% (profiled separately)
- Wholly owned AMF-approved management company (GP-04000010) running equity funds in listed French and euro-zone small and mid caps for CDC group clients; €4.0bn under management at 30 June 2026
ABOUT
The Caisse des Dépôts is a special public institution created in 1816 and placed under the supervision of the French Parliament; its CEO is appointed by the President of the Republic. Its asset management department invests its financial assets (bonds, listed equities, listed-asset funds, debt funds and unlisted equity funds, plus real estate), €320bn at market value at 31 December 2025, 97% managed directly. Its unlisted fund portfolio comprises about 358 funds from 168 management companies, and its Banque des Territoires division invests equity and quasi-equity in local projects. It co-owns Bpifrance and holds strategic stakes in companies such as La Poste and CNP Assurances.
PORTFOLIO (3)
- Bpifrance (49.18%)NOTABLE
- Amundi Private Equity Transition Juste (fund commitment, €30M)Climate & Energy · since 2024
- STOA (67%)Climate & Energy · since 2017
TEAM
LINKS
FAQ
Caisse des Dépôts is a government-backed fund based in Paris, France, founded in 1816.
Yes. Caisse des Dépôts invests directly in private companies. It also commits capital to third-party funds as an LP.
Caisse des Dépôts invests at Growth and Buyout stages in Climate & Energy, Real Estate & PropTech, Industrial & Manufacturing and Mobility & Logistics.
Key people at Caisse des Dépôts include Olivier Sichel (Chief Executive Officer (Directeur général)) and Jean-René Cazeneuve (Chairman of the Supervisory Board (Member of Parliament)).
Caisse des Dépôts's investments include Bpifrance (49.18%), Amundi Private Equity Transition Juste (fund commitment, €30M) and STOA (67%).
No. Caisse des Dépôts invests its own capital and does not raise money from outside investors.