France and Monaco family investment groups – the list

French family/principal investment groups are dominated by holding investment groups, which often still have a stake in the operational family business. 

Examples are Tethys, the investment group of members of the Bettencourt family, who own L’Oreal; Groupe Arnault, the investment/holding group of Bernard Arnault and family; FFP, the holding/investment group of Peugeot family; and Colam Entreprendre, the holding/investment group of the Coisne and Lambert family, who own Sonapar. 

These big holding/investment groups show wealth in France is still dominated by family business dynasties, most of whom made their initial fortunes in the 20th century, if not earlier. NJJ Capital, the investment office of tech entrepreneur Xavier Niel, is one of only a few set up in the 21st century. 

Paris is where most of them are based, which is indicative of the country’s heavily centralized capital city ethos and where the financial sector is mostly based. 

Despite Monaco’s reputation as a centre of global wealth, a family office ecosystem there isn’t as great as might be expected. Family Capital can only track down three of any significance in the Principality. Of course, family offices in Monaco are often there because of its discreetness and most don’t want any profile whatsoever. 

But it’s difficult to believe Monaco has a thriving family office scene, at least when it comes to investing. That said, Itlay’s wealthiest family, the Ferreros, base their investment office in the Principality.