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Press release27 April 20266 min read

Combination of Kirao Asset Management and Finaltis

The executives and shareholders of Finaltis and Kirao have agreed on the absorption of Kirao by Finaltis, subject to obtaining the required authorisations and approvals from the Autorité des marchés financiers. Built on the Finaltis platform, the transaction ensures full continuity and broader services for the investors of Kirao and Finaltis, while respecting the identities of their complementary conviction-based management styles.

Following the absorption of Friedland Gestion by Finaltis in November 2025, the combination with Kirao is part of the consolidation movement in the asset management sector. The integration of Kirao’s experts in conviction-based management of European equities and of its asset allocators strengthens Finaltis’s expertise and its ability to offer differentiating investment solutions.

The Finaltis platform forms the foundation of a particularly competitive new combined entity:

  • An institutional organisation

    Since 2001, Finaltis has built a solid, flexible and optimised internal organisation: from investment to client relations, from operations to research, every function of the firm relies on robust tools and procedures, and is run by experienced and accountable professionals. This organisation makes it possible to focus on investment within a secure framework at the most tightly controlled costs.

  • Independence exclusively at the service of investors

    As a company independent of any banking, financial or insurance group, with a stable shareholder base controlled by its executives, who devote their professional efforts exclusively to it, Finaltis guarantees its investors total long-term commitment and genuine freedom of management.

  • A range of thematic funds for institutional and private clients

    Covering equities and diversification strategies, Finaltis offers its institutional and private clients a range of French and Luxembourg funds investing in themes and markets selected for their long-term appreciation potential. For each fund, the Finaltis teams have defined dedicated approaches – fundamental conviction-based, quantamental or quantitative – capable of extracting the full underlying potential.

  • Dedicated wealth management solutions maximising the benefits of discretionary mandates: La Maison Finaltis

    In coordination with the wealth experts (family offices, notaries, lawyers or wealth management advisers) chosen by private clients, La Maison Finaltis designs an investment strategy in a dedicated mandate, which it implements in the books of custodian banks rigorously selected for their soundness, the quality of their services and their costs.

    Where clients’ needs so require, La Maison Finaltis portfolios optimise the possible use of Lombard loans and of wealth and estate planning wrappers, such as PEA, CTO, FID, trusts, …

    La Maison Finaltis offers an integrated management service, interoperable with nine banking institutions in France, Luxembourg, Switzerland, Monaco and Singapore, and eleven Luxembourg insurance companies.

    As Denis Beaudoin, Chairman of Finaltis, points out, the wealth management solutions of La Maison Finaltis, to which Kirao’s private clients will have access, are meeting with strong demand: “The support of our partners and clients for our resolutely active management led to a doubling of the number of mandates and of the assets under management of La Maison Finaltis in 2025. The renewed confidence of our clients and partners in 2026, combined with the integration of Kirao’s experts within the flexible and secure framework of Finaltis, will enable a further doubling over the year.”

As part of this combination, the Chairman of Kirao, Fabrice Revol, has announced his departure at the end of the integration process. At the head of the company since its creation, Fabrice Revol is handing over operational management with immediate effect to Frédéric Maréchal and Xavier Gandrille, founding partners, who will steer the integration in coordination with the Finaltis teams. Upon the effective absorption of Kirao, Mr Maréchal and Mr Gandrille will be appointed Directors of Finaltis.

The terms of the combination ensure full continuity and access to broader services for the investors of Kirao and Finaltis:

Frédéric Maréchal, Chairman of Kirao, states: “Investors in Kirao’s funds and clients of its dedicated mandates will benefit from full continuity. The strategies implemented within Kirao’s funds, dedicated mandates and funds of funds will be integrated gradually in order to preserve the distinctive expertise developed by Kirao while placing it within a broader collective dynamic.”

Xavier Gandrille, Chief Executive Officer of Kirao, adds: “Our combination paves the way for an enriched wealth management offering: Kirao’s clients now have access to all of Finaltis’s strategies and areas of expertise, opening up unprecedented prospects for diversification and portfolio optimisation.”

Bruno Bernstein, Chief Executive Officer and Chief Investment Officer, Equities, of Finaltis, concludes: “The themes and styles of the Finaltis and Kirao equity funds do not overlap in any way: they therefore keep their specific features… and their names! Their complementarity gives rise to a range of exceptional depth within an independent active management house.”

About Finaltis

Founded in 2001, Finaltis is an entrepreneurial asset management company authorised by the Autorité des marchés financiers, serving institutional and private wealth investors.

Finaltis manages seven French and Luxembourg UCITS with daily liquidity:

  • four thematic equity strategies:
  • two quantitative and systematic strategies harnessing certain specific risk premia of equity markets:
    • Finaltis EfficientBeta™ Euro: low-volatility equities of the euro zone, in a minimum-variance portfolio designed to capture the so-called “low-volatility” premium (SFDR 8, PEA-eligible)
    • Cyril Systematic: a portfolio of futures contracts combining the super-growth premia of certain peripheral equity markets (India, Brazil, China, US small caps, …) while reducing their extreme risks (SFDR 6).
  • A flexible strategy:
    • Friedland Allocation Flexible: a portfolio actively combining all of Finaltis’s expertise around a core invested in high-growth European small and mid caps (SFDR 6).

Created through the combination of Friedland Gestion and Finaltis in November 2025, La Maison Finaltis offers institutional-grade investment services tailored to the needs of private clients.

Within dedicated mandates, La Maison Finaltis implements an active allocation built around a core of equities in international companies that drive global growth.

La Maison Finaltis has been chosen by more than 200 families advised by 35 professional wealth management partners in France, Monaco and the Benelux.

About Kirao

Founded in 2014, Kirao is an independent asset management company authorised by the Autorité des marchés financiers, recognised for its expertise in conviction-based management of European equities of all market capitalisations. Kirao manages 5 French mutual funds (FCP) for institutional and private wealth investors, and more than 300 dedicated mandates on behalf of 120 French families.

Contacts

Paul Celestin – pcelestin@finaltis.com

Download the press release (in French)

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