Varenne Capital Partners
Varenne Capital Partners is a Paris-based investment management firm authorized by the French Financial Market Authority (AMF), specializing in multi-framework portfolio management. The firm focuses on delivering superior long-term returns with minimal necessary risk, serving institutional clients through a disciplined, research-driven process. Varenne Capital integrates ESG principles and is a signatory of the UN PRI, combining advanced technology with fundamental and behavioral research. The firm has approximately 90 employees including specialized teams managing and implementing its strategies since its founding.
Investment Strategy
Varenne Capital Partners employs multiple investment frameworks, including long equity, short equity, merger arbitrage, and hedging strategies. The firm’s approach is research-driven, relying on proprietary databases and independent analysis—entirely avoiding sell-side research—to identify high-conviction investment opportunities. Its short equity framework targets uncorrelated returns, particularly under adverse market conditions, while the merger arbitrage strategy focuses only on announced, friendly deals globally and is deployed alongside tail risk hedging. The firm’s emphasis on hedging is aimed at protecting against rare, severe market events. ESG is integrated into the process, with certain sectors and companies excluded in line with responsible investment practices.
Top Holdings
Equity Positions (15)
| Ticker | Security | Weight | Market Value | Shares | Avg Cost | Price | Change (QoQ) |
|---|---|---|---|---|---|---|---|
A APH | AMPHENOL CORP NEW | 13.25% | $76.4M | 773,745 | $93.65 | $98.75 | +$68.7M |
W WAB | WABTEC | 10.06% | $58.0M | 277,078 | $189.30 | $209.35 | +$22.0M |
A ANET | ARISTA NETWORKS INC | 9.15% | $52.7M | 515,485 | $79.20 | $102.31 | +$15.6M |
D DIS | DISNEY WALT CO | 6.02% | $34.7M | 279,755 | $124.01 | $124.01 | +$34.7M |
N NFLX | NETFLIX INC | 5.22% | $30.1M | 22,482 | $695.60 | $1339.13 | +$6.9M |