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Bailey McCann, Opalesque New York:

The private equity team of French asset management firm Massena Partners has spun out and launched as Essling Capital. Essling runs approximately €1 billion and will be led by Frank Noël-Vandenberghe and Michele Mezzarobba.

Both Noël-Vandenberghe and Mezzarobba have a long history in French asset management. Noël-Vandenberghe founded Massena Partners in 1989 and growing the firm to approximately €2 billion. Mezzarobba joined Massena in 2015 to lead the firm's private investments group. Prior to joining Massena, he was the CFO, Executive Board Member and Head of Proprietary Investments at Paris Orléans (Rothschild & Co).

"We launched our private equity strategy within Massena in 2015, but interest grew quickly and in order to respond to that we described to go out on our own," Mezzarobba tells Opalesque. "We will still supervise capital already deployed in the strategy at Massena."

Massena takes part in a variety of deals including minority co-investments, funds of funds (primary and secondary), real estate and non-listed debt. Other investment strategies are currently being finalized. "The idea is to create a platform for different strategies," Mezzarobba says. "We want to be opportunistic. We have a global mandate for our strategies."

So far the team has done six deals, mostly in Europe.

Unlike traditional private equity, which typically comes with a five or ten year investment, the firm will allow its LPs to in......................

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