Skip to content
Institutional LPInvests through funds, not into companiesLAST VERIFIED Oct 2026 · 7 SOURCES

Covéa

Also known as Groupe Covéa, Covéa SGAM

French mutual insurance group (MAAF, MMA, GMF, PartnerRe); €117bn of investments (2025); invests in Relance-labelled, regional and impact funds incl. Blue Ocean, Agri Impact and the FST.

HEADQUARTERS
Paris, France
FOUNDED
—
AUM
€117B (2025)
OUTSIDE CAPITAL
No — own capital only
TEAM LISTED
4 people

Focus

STAGES
—
SECTORS
—
ASSET MIX
Private equityImpactReal estate
GEOGRAPHY
France

Investment arms & vehicles

  • Covéa Finance
    Asset management company of the group; manages 20 mandates for group companies and partner mutuals and a range of 50 funds, including 5 FCPIs (€84.5bn at end 2024)
  • Covéa Next
    Startup investment structure launched in December 2014 with a first stake in Wezzoo

Overview

Covéa is a mutual insurance group (SGAM) whose main French brands are MAAF, MMA and GMF; it also owns the reinsurer PartnerRe and reported €27.4bn of gross earned premiums in 2025. Group investments stood at €117bn (net book value) at end 2025, mostly managed by its asset manager Covéa Finance and its property arm Covéa Immobilier. A team within the group's investments department invests in Relance-labelled funds, regional funds and impact funds such as Blue Ocean, Agri Impact and the Fonds Stratégique des Transitions. Covéa is a partner investor of the government-sponsored Tibi initiative for French tech funds.

PORTFOLIO (3)

  • Blue Ocean (impact fund)
  • Agri Impact (impact fund)
  • Fonds Stratégique des Transitions (FST)

People

  • Thierry Derez
    Chairman of the Board of Directors · source
  • Maud Petit
    Chief Executive Officer (Directrice générale) · source
  • Olivier Le Borgne
    Head of Investments (Directeur général Investissements) · source
  • Michael Walker
    Head of Finance (Directeur général Finances) · source

Links

Frequently asked questions

Covéa is a institutional investor based in Paris, France.

Covéa does not primarily put its own money into private companies. It also commits capital to third-party funds as an LP.

Key people at Covéa include Thierry Derez (Chairman of the Board of Directors), Maud Petit (Chief Executive Officer (Directrice générale)), Olivier Le Borgne (Head of Investments (Directeur général Investissements)) and Michael Walker (Head of Finance (Directeur général Finances)).

Covéa's investments include Blue Ocean (impact fund), Agri Impact (impact fund) and Fonds Stratégique des Transitions (FST).

No. Covéa invests its own capital and does not raise money from outside investors.