LBP AM European Private MarketsFR001400RTA3Class A1
LBPAM Private Opportunities diversifies across European private markets with a substantial private-debt pillar — the ELTIF of the La Banque Postale group, as a French vehicle, launched at the end of 2024, with no performance fee.
Subscriptions and redemptions are centralised monthly — at mid-month in each case, at a price unknown at the time of the order; the initial lock-up has expired. A gate is provided for but not quantified.
Extremely low-threshold with a three-figure minimum investment, for retail clients of the postal-bank network; not registered for distribution in Germany.
The French savings-bank model for private markets: a minimal hurdle, branch-level bank distribution, no performance fee — designed for breadth rather than connoisseurs; the documentation still trails the ambition.
Figures for class A1 (FR001400RTA3) · product data 26 Sep 2026 · sources: prospectus (as at May 2026), PRIIPs-KID — full list under 08 documents.
Since the data series began in Dec 2024, the unit price has gained 1.4% per year. The series is monthly; valuations of private holdings arrive quarterly and smoothed — the line is therefore calmer than the risk.
17 monthly values, 16 derived from monthly returns · Source: secondary source (data portal) · Returns calculated by semiliquid.info from the NAV series, not an official provider figure. Taxes and dealing costs of reinvestment are not considered. Past performance is not a reliable indicator of future results.
What the prospectus permits: Investment in three unlisted asset classes in France and Europe: private corporate debt, private equity and infrastructure (equity and debt); in parallel, the build-up of a 'Capital Solutions' centre of expertise
Taxonomy of semiliquid.info; only published values are used, nothing is estimated. The actual portfolio breakdown is in 03 Portfolio.
10 holdings; the five largest account for 18.6% of the fund. 30.0% is held in the liquidity reserve.
How the reserve is invested: 6 liquidity funds (1 bond, 1 mixed, 4 money market funds), not named 30.0%.
Among the ten largest: 5 primary funds, 5 LP secondaries.
Senior private debt fund of LBP AM European Private Markets (2022 vintage) that provides senior loans to European, predominantly French mid-cap companies.
Fifth buyout fund (2020 vintage) of Montefiore Investment, an independent Paris-based private equity firm founded in 2004.
Fifth mid-cap buyout fund (2022 vintage) of Andera Partners, founded in 2002 within the Edmond de Rothschild group and independent since 2018.
Debut fund (2022 vintage) of Adagia Partners, founded in 2020 by the former CEO of Roland Berger and two former partners of Montagu and PAI. The fund acquires majority stakes in European …
Third buyout fund of Qualium Investissement (vintage 2022), acquiring majority stakes in fast-growing French SMEs and mid-sized companies (ETIs); it holds eight portfolio companies.
MBO V is a 2021-vintage LBO fund of MBO+ (founded in 2002, team-owned) that supports French SMEs and mid-sized companies in succession, development and transformation projects.
Fund of Keensight Capital, a Paris-based growth buyout specialist founded in 1997 with about 127 employees, which invests in profitable, growing European technology and healthcare companies.
Mirova Energy Transition 6 is the sixth energy transition infrastructure fund of Mirova (Natixis Investment Managers, Paris), 2023 vintage.
Third infrastructure fund of Quaero Capital (vintage 2023), investing in small and mid-sized infrastructure companies in Europe and currently holding three assets.
Arkéa Impact 2 is an impact fund launched in 2025 by the Crédit Mutuel Arkéa group that provides debt financing for energy and digital transition infrastructure in Europe.
Positions and shares according to the provider; short descriptions by semiliquid.info from public sources; 49.5% is not allocated to any block in the source; Allocation according to the uniform semiliquid taxonomy; only published values are used, nothing is estimated.
With ongoing costs of 2.56%, class A1 is above the median of the asset class (2.30%). There is no performance fee.
For 10,000 EUR this means roughly 256 EUR per year.
For 10,000 EUR, a one-off up to 300 EUR on purchase.
Based on the PRIIPs key information document of class A1, hence comparable across providers. Median: 16 Multi-Asset funds in this database, data run 16 Oct 2026.
Units can be subscribed monthly. The prospectus does not fix a determinable dealing day; the sequence is therefore shown as a rule, without dates.
centralisation
Price = NAV per share on this day.
No date can be calculated from the captured rules — a determinable valuation day is missing. Shown are the prospectus figures.
| Frequency | monthly |
|---|---|
| Procedure | fully paid-in |
| Valuation day | special rule, see prospectus |
| Cut-off | 1 month before dealing day · 13:00 Paris · (centralisation) |
| Price | next NAV after centralisation |
| NAV publication | VL day last business day of the week containing the 15th; publication J+5 business days |
| Payment | pre-funding: 0 business days after cut-off |
| Minimum investment | 100 EUR |
| Entry charge (max.) | 3% (distributor) |
| Subscription limit | Subscriptions may be suspended at any time at the discretion of the management company |
| Business day | Jour Ouvre: banques et marches de change ouverts a Paris + jour de fonctionnement du Systeme TARGET (p. 38) |
Data as at 26 Sep 2026 · Documents: 08.
Units can be redeemed monthly — with a volume limit (Gate), lock-up 12 months. How quickly the money arrives and what happens if many want out at once is set out below.
Redemption cap 8.3% of the liquidity level.
Price = NAV per share on this day.
8.3% of available liquidity
No date can be calculated from the captured rules — a determinable valuation day is missing. Shown are the prospectus figures.
Money typically within a quarter — on average 52 days from decision to cash.
Rank 6 of 112 · rank 1 of 15 in Multi-Asset · no lock-up · no fixed redemption fee
Confidence medium — waiting time approximated · prospectus as at 15 May 2026 · score run 16 Oct 2026 · How 52 days become 60 pointsThe score measures how quickly and reliably you can get your money out according to the prospectus — not whether the fund is good.
| Character | redemption right |
|---|---|
| Frequency | monthly |
| Valuation day | special rule, see prospectus |
| Notice | 1 month before NAV day · 13:00 Paris · (centralisation) |
| Price | next NAV after centralisation |
| Payout | 5 business days after valuation day |
| Gate | 8.3% of available liquidity per centralisation |
| Scaled-back portion | scaled-back portion lapses; new request required, no priority |
| Redemption fee (max.) | 0% |
| Lock-up | fund-level, 12 months (subscription) |
| Suspension | exceptional circumstances; liquidity pocket below 10% of net assets; cumulative redemptions above 20% of net assets within 12 months |
| Liquidity tools | redemption cap Art. 18(2)d ELTIF; extended preavis period of up to 6 months; partial or full suspension |
| Switch / transfer | permitted, treated as a redemption followed by a subscription; the minimum subscription must be observed |
The gate is not a NAV ratio: the centralised redemptions are capped at 25% of the “Niveau de Liquidité”, i.e. the sum of the liquid assets held under Art. 9(1)b ELTIF Regulation and the cash flows prudently estimated over twelve months (including expected capital calls of the target funds, estimated coupons, realised sales and cost provisions; future subscriptions are not taken into account).
Quantified: 8.3% (plafond) of the sum of the liquid assets under Art. 9(1)(b) ELTIF Regulation on the centralisation day and the cash flows prudently estimated over 12 months ('Niveau de Liquidité'); requests beyond that are scaled back pro rata, the unexecuted part must be resubmitted (prospectus May 2026, Art. 4.5 (D)). Optional extended notice period (préavis) of up to 6 months (Art. 4.5 (C)).
Data as at 26 Sep 2026 · Documents: 08.
7 classes. All cost and risk figures on this page refer to the basis class A1.
PRIIPs KID ✓: a key information document exists and is the source of the costs. —: no KID documented — the class is distributed outside the EEA or to investors not covered by the KID requirement, or the document is not available.
Who is behind the fund, where it may be distributed — and which documents were evaluated.
| Document | As at | Used for |
|---|---|---|
| Key information document (PRIIPs KID) | 23 Mar 2026 | — |
| Presentation | 27 Jan 2025 | — |
| NAV series secondary source (data portal) | 31 Jul 2026 | Performance (01) |
| Positions and reserve | 24 Dec 2025 | Portfolio (03) |
All figures are taken from provider documents (product data as at 16 Oct 2026, distribution data as at 5 Oct 2026) and have not been conclusively verified.
Redemption monthly, notice period 1 month before NAV day, with 8.30% gate per centralisation.
Ongoing costs of 2.56% p.a. according to the PRIIPs KID for class A1; the median of the Multi-Asset funds in this database is 2.30%; no performance fee.
100 EUR in class A1.
No. According to our evidence, the fund cannot currently be subscribed in Germany (as at 5 Oct 2026). The Access check shows the details.
As at 16 Oct 2026, no redemption restriction is documented for the LBPAM Private Opportunities. Under the prospectus a gate of 8.30% per centralisation applies.
Same asset class, similar sub-strategy.
Amundi · ELTIF 2.0 · quarterly
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Apollo Global Management · Part II SICAV · quarterly
BlackRock · ELTIF 2.0 · quarterly
Liquidity score in the “as of today” view with average days to cash. No recommendation, no ranking.