Mansard

Year-end

L-25-04

Fourteen years, five funds, one address

We moved into 14 rue des Combles in 2014 with four people. A letter about what has changed since, and what has not.

Hélène Marchetti

5 min

The building at dawn from across the street, the green carriage door and the lit attic, a cyclist passing

We moved into 14 rue des Combles in 2014. There were four of us, two funds and a lot of empty desks. Fourteen years after founding the firm, we have five funds, fifteen people and no empty desks.

What has changed

We built a middle office, a back office and a control function that do not report to the people who manage money. We hired them before we needed them, because the funds deserved it before the regulator required it.

What has not

The investment committee still meets every morning at 08:30, under the roof. The partners still own the firm and invest in every fund. And we still answer the phone ourselves.

Thank you for your trust.

Hélène Marchetti, Chief Executive

Past performance is not a reliable indicator of future results. This letter expresses the views of its author at the date of writing and is not investment advice.

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