ISALT’s 3rd Annual Forum
The Dual-Use Industry: A Driver of New Growth
ISALT hosted its third annual forum, bringing together institutional investors, business leaders, government officials, and industry experts to explore how the dual-use industry can drive new economic growth, with innovation and industrial recovery at the heart of our strategic autonomy.
July 17, 2025
ISALT raises nearly €300 million for its Fonds Stratégique des Transitions
ISALT has reached a strategic milestone, securing close to €300 million for its Fonds Stratégique des Transitions (FST), dedicated to innovative industrial SMEs and mid-sized companies.
July 10, 2025
The Fonds Stratégique des Participations acquires a stake in Groupe ADIT
The Fonds Stratégique de Participations (FSP), a coalition of seven major French insurers, has announced its investment in Groupe ADIT, Europe’s leading firm in business intelligence and strategic advisory services for governments and corporations worldwide.
June 27, 2025
The FST leads investment round in Groupe Sources alongside longstanding partners
Groupe Sources, a key player in the design and construction of water treatment facilities, has completed a new capital transaction with the Fonds Stratégique des Transitions (FST) taking the lead, supported by its historical financial partners.
We invest long-term in the equity of French companies with industrial or technological focus, operating in future-oriented markets.
We target innovative businesses with high potential for value creation and competitiveness.
We provide patient capital to support key phases of their growth: R&D and technology investments, industrial scale-up, new production tools, market expansion, international development, and strategic acquisitions.
By actively participating in their boards of directors or supervisory boards, we help implement solid and established governance practices and ensure that opportunities linked to essential transitions — environmental, technological, and social — are embedded at the core of their strategy.
Advocating for Long-Term Investment
ISALT always chooses the long view. Long-term investment means preparing for the future. It also means believing in the potential of the companies we support, providing them with the stability and capital needed to transform and meet the evolving demands of a sustainable economy. It also means building a resilient future for generations to come, through job creation, improved quality of life, social balance, and environmental stewardship.
Creating Sustainable Value
Performance and sustainability are now inseparable. We are convinced that French companies must undergo lasting transformation to remain competitive. Those that embrace responsibility and essential transitions into their organization and strategic direction today will be tomorrow’s leaders. ISALT supports French champions by providing stable, long-term capital to help them create sustainable value.
Uniting Long-Term Investors
Sustainable growth requires committed capital. ISALT’s mission is to bring together investors who share a long-term vision and a desire to support French companies through strategic dialogue and enduring partnerships.
The Fonds Stratégique des Transitions (FST)
In March 2023, ISALT expanded its long-term investment platform by launching the Fonds Stratégique des Transitions (FST).
The FST stems from ISALT’s reflection on two key questions:
How can we invest in smaller French companies that address strategic challenges? How can we support projects that strengthen domestic production capabilities?
The FST targets innovative SMEs and mid-sized companies driven by three key factors: innovation, technology, and decarbonization. These companies operate in sectors with clear, long-term growth prospects and structural demand.
The FST’s mission is to help these companies scale up industrially, by providing equity capital, strong governance, and long-term development support.
The Fonds Stratégique de Participations (FSP)
Managed by ISALT and backed by seven major French insurance companies ; the FSP has been a reference investor since its inception in 2013. As of December 31, 2023, the FSP held 11 investments with total assets of €2.1 billion.
The FSP’s purpose is as follows: “The mission of the FSP and its shareholders is to contribute to the development of French companies by investing long-term in their capital and participating in their governance. By mobilizing significant capital from long-term French savings, the FSP actively supports essential societal transformations, providing visible and sustained backing to businesses. The FSP believes that long-term vision and execution are key drivers of sustainable value creation for all stakeholders.”
Our Team
Nicolas Dubourg
President and Co-CEO, Member of the Investment Committee
Patricia Salomon
Co-CEO, Member of the Investment Committee
Andrea Beneventi
Managing Director, member of the Investment Committee
Claude Hériard Dubreuil
Managing Director, Member of the Investment Committee
Jean-Hervé Lorenzi
Special Advisor
Stéphanie Cretin
Administrative / Office Manager
Julien Castel
Analyst
Alexandre Paris
Analyst
Sarah Loertscher
Associate
Sagane Tuffier
Chief Financial Officer
Caroline Breton
Compliance and Internal Control Officer
Daniel Rayot
Development Director, Member of the Investment Committee
Maxime Amiant
Director
Marie-Gabrielle Figeac
Director
Victoria Charles
ESG / Transitions Lead
Marine Tallon
Investor Relations Analyst
Giulia Marini
Managing Director
Morena Bernardini
Managing Director – Defense Expert
Laurent Piccoli
Managing Director, Member of the Investment Committee
Grégoire Duverne
Managing Director, Member of the Investment Committee
Nicolas Georghiou
Vice President
Sophie Bénard
Vice President