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Andera Dette Privée
Key Statistics
Fund Size
€200M
Target Return
5.0%
Annualized Return
N/A
Launch Year
2024
Min. Investment
N/A
Availability
Open through selected distributors
Structure
FCPR (ELTIF 2.0)
Product Category
Open-end
Domicile
France
GP Type
Single
Liquidity Level
Semi-liquid
Management Fee
N/A
Carry
N/A
ISIN
FR001400RYX5
Currencies
EUR
Investor Eligibility
Retail
Liquidity Options
Redeemable at any time via MACSF contracts
Highlights
Key Information Document (KID) – EU Funds
KID Risk Indicator
5 out of 7
Annual Returns (KID Scenarios)
Stressed
N/A
Moderate
N/A
Favorable
N/A
Allocations
Investment Strategy
Industry Focus
Performance Summary
Unit-linked (MACSF contracts) — Performance from 2024-10-24 to 2026-09-04
NAV: 107.33
Performance Comparison
Year to Date
2.76%
Information about fund
Andera Dette Privée at a Glance
Andera Dette Privée is an evergreen French FCPR structured under the ELTIF 2.0 framework, created by Andera Partners in partnership with MACSF, the French mutual insurer for healthcare professionals. Available since 24 October 2024 as a unit-linked option within MACSF life-insurance, capitalisation and retirement contracts, it deploys the sponsorless mezzanine strategy of the Andera Acto team — whose institutional fund Acto V closed at EUR 1.1 billion in February 2026.
Key Figures
Assets
€200M+
As of September 2025
Target Return
5–10%
Annualized, steady state (not guaranteed)
YTD Return
+2.76%
NAV €107.33, 4 September 2026
Valuation
Every 15 days
Open-end, evergreen; 99-year term
Exit Charge
3%
On units held under 3 years (exceptions apply)
Risk Indicator
5 / 7
SFDR Article 8; 8-year recommended horizon
Access & Terms
| Access | Exclusively via MACSF RES Multisupport, RES Capi and RES Retraite contracts (France) |
| Liquidity | Redeemable at any time through the contract, supported by a ~15% liquidity pocket |
| Allocation Caps | Max 30% of contributions in free management; ~2–12% in guided profiles |
| Strategy | Sponsorless mezzanine to management teams holding ≥25% of their company |
| Fees | Not publicly disclosed (access via MACSF contract premiums) |
The fund is designed for French retail investors who are MACSF policyholders; it is not available outside MACSF contracts and is not passported for distribution in other countries. Portfolio companies commit to decarbonisation trajectories, and investors should be able to commit capital for the recommended eight-year horizon and accept the risk of capital loss inherent in unlisted mezzanine debt.
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