Carmignac

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Carmignac is a French asset management firm founded in 1989 by Édouard Carmignac and Éric Helderlé. The firm is wholly employee-owned and as of 2025 had $40.9 billion of assets under management. After its founding in 1989 in Paris, the firm opened its first office abroad in Luxembourg in 1999. In 2008, offices were established in Madrid and Milan, followed by London in 2012 and Zurich in 2015. In 2000, Carmignac’s assets amounted to €1 billion, reaching €13 billion in 2007. The firm’s flagship fund, Carmignac Patrimoine, was not affected by the 2008 financial crisis, which led to an increase in assets in the following years, and it became one of the largest funds in Europe for a while, according to the Financial Times. In September 2018, it was announced that Édouard Carmignac would step down from running the Carmignac Investissement Fund, management of which passed to David Older. Edouard Carmignac announced in January 2019 that he would step down as the portfolio manager of the Carmignac Patrimoine fund after holding this position for 30 years. Rose Ouahba and David Older succeeded Carmignac as dual leads of the Fund. However, Edouard Carmignac maintained his role as a member of the strategic investment committee and chief investment officer (CIO).