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Institutional LPNo direct investingLAST VERIFIED Oct 2026 · 5 SOURCES

Ircantec

Also known as IRCANTEC, Institution de retraite complémentaire des agents non titulaires de l’État et des collectivités publiques

Supplementary pension scheme for non-tenured French public-sector staff, managed by Caisse des Dépôts; €18.6bn of reserves (end 2025); commits to PE, infrastructure and impact funds.

HEADQUARTERS
France
FOUNDED
—
AUM
€18.6B (2025)
OUTSIDE CAPITAL
No — own capital only
TEAM LISTED
1 people

FOCUS

STAGES
—
SECTORS
—
ASSET MIX
Private equityPrivate creditImpactReal estatePublic equities
GEOGRAPHY
FranceEurope

WHAT IT IS

Institutional LP. Pension funds, endowments, foundations and sovereign funds that commit capital to funds and, sometimes, directly.

ABOUT

Ircantec is the mandatory supplementary pension scheme for contract and non-tenured staff of the French State, local authorities and other public bodies, with 3.24 million contributors and 2.41 million pensioners; Caisse des Dépôts manages its assets by delegation under the board’s policy. Its reserves were €18.6bn at 31 December 2025. Its unlisted pocket invests through funds in property, private equity, private debt, social and solidarity economy and infrastructure. At end 2025 it had committed €462M to SME/mid-cap financing (a dedicated Access Capital Partners fund plus funds such as Meanings, Alter Equity and Omnes) and €283.5M to green infrastructure funds.

PORTFOLIO (10)

  • Dedicated SME/mid-cap PE and private-debt fund (Access Capital Partners) — €190.8M invested at end 2025
  • Meanings Private Equity Funds B & II and Meanings Private Equity Fund IV
  • Alter Equity 3P and Alter Equity 3P II
    Climate & Energy
  • Omnes Croissance 4
  • WCP Impact Dev 1
  • Paris Fonds Vert
    Climate & Energy
  • Green infrastructure / thematic PE funds: BTP Impact Local, CapEnergie 3, Demeter 4 Infra, Infragreen II, Infragreen IV, Eurofideme 3, Eurofideme 4, Effithermie, Pearl Infrastructure Capital, SWEN Impact Fund for Transition, SWIFT 2 (€283.5M committed in total)
    Climate & Energy
  • Dedicated €250M unlisted energy-transition infrastructure fund (Eiffel Investment Group, launched 2025)
    Climate & Energy · since 2025
  • NovESS (Caisse des Dépôts) — €5M
  • Tourisme Social Investissement (TSI) — €22.5M commitment

TEAM

  • Jean-Christophe Couvy
    Président du Conseil d’administration · source

LINKS

FAQ

Ircantec is a institutional investor based in France.

Ircantec does not primarily invest directly in private companies. It also commits capital to third-party funds as an LP.

Key people at Ircantec include Jean-Christophe Couvy (Président du Conseil d’administration).

Ircantec's investments include Dedicated SME/mid-cap PE and private-debt fund (Access Capital Partners) — €190.8M invested at end 2025, Meanings Private Equity Funds B & II and Meanings Private Equity Fund IV, Alter Equity 3P and Alter Equity 3P II, Omnes Croissance 4, WCP Impact Dev 1, Paris Fonds Vert, Green infrastructure / thematic PE funds: BTP Impact Local, CapEnergie 3, Demeter 4 Infra, Infragreen II, Infragreen IV, Eurofideme 3, Eurofideme 4, Effithermie, Pearl Infrastructure Capital, SWEN Impact Fund for Transition, SWIFT 2 (€283.5M committed in total) and Dedicated €250M unlisted energy-transition infrastructure fund (Eiffel Investment Group, launched 2025), among others.

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