Astorg

About Astorg

Astorg is a leading European mid-market private equity firm with €23.0 billion of assets under management as of December 2024, headquartered in Paris with offices in London, Luxembourg, Milan, Munich, New York and Frankfurt. The firm was founded in 1998 as a spinoff from Suez Group, becoming partner-owned and independent through subsequent management transitions. Astorg focuses on building lasting global leaders in selected sectors through majority and significant minority equity investments, typically held for five to seven years across successive flagship fund vintages.

Investment thesis

Astorg targets European mid-market and upper-mid-market companies with €300 million to €2 billion in enterprise value, deploying equity tickets between €150 million and €700 million per transaction. The firm's sector focus has consolidated around B2B services, healthcare, technology and selected industrial niches, with dedicated sector teams driving thematic origination and value creation. Astorg also operates complementary strategies including Mid-Cap and Co-Investment vehicles, plus a continuation-fund capability to extend ownership of high-conviction assets beyond traditional fund duration.

Recent activity

Recent realised exits include Clario (healthcare, 2026), Anaqua (TMT, 2025), Acturis (TMT, 2024) and Normec (business services, 2024), reflecting active distribution momentum across the healthcare and software franchises. The platform tracks 10 funds, 34 active portfolio companies and 44 realised exits, with ongoing deployment from the latest flagship vintage across European target geographies. Detailed buyer names and multiple data available on Pro at €29/month.