• Five Arrows Private Equity Programme (FAPEP) is Merchant Banking’s global multi-managers private equity platform.

  • FAPEP capitalises on Merchant Banking's private equity expertise and over-the-cycle performance to invest globally across the private equity asset class: fund investments, secondary and co-investments. 

    Given Rothschild & Co's presence in 50 offices across the globe and the FAPEP team's long-standing private equity experience, FAPEP has access to an unparalleled network of contacts and benefits from unique insight into the mid-cap segment, enabling us to identify and diligence attractive opportunities.

    FAPEP's focus is to give access to a selected pool of top-tier managers, while enabling access to the wide array of Rothschild & Co's private equity initiatives. In order to mitigate regional cycles, FAPEP invests in growth capital and buyout situations in Europe, in the US and in emerging markets.

  • Our investment strategy

    Diversification across private equity strategies and fund vintages

    FAPEP has the ability to invest in various private equity strategies: fund investments, secondary and co-investments. This combination of our flexibility and experience in multiple private equity strategies gives us a truly distinctive perspective.

    Attractive mid-cap investment opportunities

    We pursue mid-cap investment opportunities, generating appropriate risk-adjusted returns across various situations and geographies.

    We focus on underlying companies who are established leaders in their market segments, operate proven business models and generate strong free cash flow. 

    Global focus

    Our global focus allows us to mitigate risk by investing where we find the best opportunities at any given moment, while pursuing investments with a balanced risk-return profile. 

  • Our approach

    Partner with well-established teams

    FAPEP aims to build fruitful partnerships with top performing private equity managers. We bring more than money by providing a unique perspective through access to Rothschild & Co's global network. Our stable capital base enables us to partner with established teams for the long term across successive fund vintages.

    In addition to fund investments capabilities, we can also provide private equity managers with secondary combined with ample direct co-investment firepower, enabling us to act as an experienced and user-friendly partner in specific situations. 

    Focus on capital preservation

    Thanks to its widely diversified portfolio, conservative views on leverage and disciplined investment approach, FAPEP aims to generate attractive risk-adjusted returns with strong downside protection.

     

  • Our team

  • Mireille Klitting Image

    Mireille Klitting

    Managing Partner and Investment Committee member of all FAMS funds (FASO, FAPEP, R&CO PI)

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    Aurélien Bullot Image

    Aurélien Bullot

    Head of FAPEP / Investment Director of R&Co PI

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    Laetitia Beillard Image

    Laetitia Beillard

    Investment Director

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    Sonia Chaachoua Image

    Sonia Chaachoua

    Investment Manager

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    Matthieu Piel Image

    Matthieu Piel

    Investment Analyst

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    Mireille Klitting Image

    Mireille Klitting

    Managing Partner and Investment Committee member of all FAMS funds (FASO, FAPEP, R&CO PI)

    Mireille is Managing Partner and Investment Commitee member of all FAMS funds (FASO, FAPEP, R&CO PI). Mireille is also a member of the Merchant Banking Management Committee. 

    Prior to launching FASO in 2011, Mireille was with Natixis Private Equity where she developed the firm's secondary activities since 2003.

    Previously, Mireille led the establishment of Natixis' direct private equity teams in Asia, Brazil, Italy and Maghreb, as well as overseeing deal structuring locally.

    Prior to that she worked at Natixis in the Structured Finance Department, Delmas and Banque de l'Union Européenne.

    Mireille is a graduate of ESSEC Business School and SFAF (CFA).

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    Aurélien Bullot Image

    Aurélien Bullot

    Head of FAPEP / Investment Director of R&Co PI

    Aurélien is Head of  FAPEP and a member of all FAMS funds (FASO, FAPEP, R&Co PI) Investment Committees.

    Prior to joining R&Co PI in 2008, Aurélien began his career in 2003 in Rothschild & Co's Global Advisory division based in Hong Kong and in Paris where he last served as a Manager.

    Aurélien holds an MSc from ESSEC Business School.

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    Laetitia Beillard Image

    Laetitia Beillard

    Investment Director

    Laetitia is an Investment Director in the FASO and FAPEP teams.

    Prior to joining Rothschild & Co in 2011, Laetitia was with Natixis Private Equity where she worked alongside Mireille Klitting since 2008. Previously, Laetitia was Head of Investor Relations at Natixis Private Equity.

    Laetitia began her career at Triago, where she later became a Partner, and was responsible for fundraisings, sourcing new clients and developing the investor base. 

    Laetitia graduated from ISG and from Paris VII with a degree in Mandarin Chinese.

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    Sonia Chaachoua Image

    Sonia Chaachoua

    Investment Manager

    Prior to joining FAPEP in 2016, Sonia worked in Leveraged Finance at The Royal Bank of Scotland (RBS) in London. She began her career at RBS in Paris in 2010. Sonia holds a Master degree from Dauphine University.

     

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    Matthieu Piel Image

    Matthieu Piel

    Investment Analyst

    Prior to joining FAPEP in 2016, Matthieu worked in Transaction Services at KPMG in Paris. Matthieu holds an MSc in Management from EM Lyon Business School.

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