PE Deals

AnaCap-backed Milleis merges with Cholet Dupont-Oudart

Cholet Dupont-Oudart is an independent private bank with around €4bn of assets.

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  • With this integration, Milleis will have a combined customer base of 70,000 families with €13bn of assets
  • AnaCap acquired Milleis in 2017
  • Milleis has since seen a 16 percent growth in assets with new inflows of 25 percent per annum

Milleis Banque Privée, backed by AnaCap Financial Partners, has merged with Cholet Dupont-Oudart Group, an independent private bank based in Paris. No financial details for this transaction were disclosed.

Cholet Dupont is a private bank with a wide range of tailored wealth management services. In June 2021, the firm merged with Oudart. Currently, Cholet Dupont-Oudart manages around €4 billion of assets. The firm will continue to be led by Fabrice de Cholet and Gaël Dupont.

With this merger, Milleis will touch a combined customer base of 70,000 families with €13 billion assets under management and will help capture a growing share of the €3 trillion high net worth French market, according to a release.

Milleis was acquired by AnaCap in 2017 and under its ownership, the firm has seen a 16 percent growth in assets under management with new inflows of 25 percent per annum.

“This combination represents another key moment for Milleis’ growth trajectory further bolstering an already strong track record in terms of growth, market position, and client services,” said Alberto Sainaghi, investment director at AnaCap. “Welcoming Cholet Dupont-Oudart will allow Milleis to address a new market segment with a dynamic service and wider product offering to better serve its clients and we look forward to further building on this position.”

AnaCap is a private equity firm specialising in mid-market companies across the financial, technological, and related business services sectors. The firm, headquartered in London, has raised €2.7 billion in gross assets under management since 2005 and completed over 76 investments across 16 European jurisdictions.

Paris-headquartered Milleis is an independent French bank that offers services for wealth ranging from €100,000 of assets.