PARIS: Concerto, an international group specialised in business intelligence, strategic communications, and public affairs, with a strong presence in Africa and the Middle East, announces the entry of CAPZA[1] into its capital as a minority investor. This transaction marks a new chapter of growth for Concerto, with no change in governance: the management structure remains centered around its founder and CEO, François Hurstel, alongside the partners and the executive committee.

Concerto advises companies, institutions and leaders on navigating and managing complex environments characterised by high political, economic, and reputational stakes. The group relies on an integrated approach combining business intelligence, international public affairs, strategic communications, media relations and crisis management, with a strong local footprint, particularly across Africa, the Middle East, and other emerging markets.

In an international context marked by profound geopolitical, economic, and informational shifts, the ability to manage risk, reputation and narratives has become a critical imperative for companies and institutions. Concerto has anticipated these challenges and positioned itself at this intersection, supporting its clients in decision-making, risk anticipation and the design of effective influence strategies.

With the arrival of CAPZA, Concerto intends to accelerate its international expansion through a pragmatic approach: strengthening its positions in markets where the group is already established, while opening new territories through a combination of targeted acquisitions and the creation of new teams. These priorities notably concern Anglophone Africa, the Middle East and other high-potential emerging markets, alongside strategic investments in artificial intelligence and data-driven capabilities to support the group’s scale up.

“This transaction sends a strong signal. It validates our positioning and our ambition at a time when managing risk, reputation and narratives has become essential. I would like to thank CAPZA, a leading private equity player, for the trust placed in Concerto. This partnership will allow us to accelerate our growth while remaining true to our strategic direction.” - François Hurstel, Founder and CEO of Concerto.

“Concerto has established itself as a key player, capable of operating in markets with significant geopolitical, economic, and reputational stakes, particularly in Africa. We are delighted to support the group in this new phase of its development.” - Thomas Meurisse, Principal, CAPZA

Deal team

Concerto

  • Concerto: François Hurstel, Olga Marysa Akin-Dina
  • M&A Advisory: Clipperton (Thomas de Montille)
  • Lawyers: Willkie Farr & Gallagher LLP (Gabriel Flandin, Théo Menet)

CAPZA

  • Investors: CAPZA (Thomas Meurisse, Valentine Bonnet, Alexis Guinard)
  • Lawyers: Agilys (Baptiste Bellone, Sophie Auvergne)
  • Due Diligence:
    • Financial: Oderis (Aurélien Vion)
    • HR: Innerways (Valérie de Launay)
    • Tax, legal and social: Agilys (Baptiste Bellone, Sophie Auvergne)

Financing:

  • Senior debt: Société Générale

Media contacts
CAPZA
Florence Jolin
+33 (0) 6 70 55 39 57
fjolin@capza.co

CONCERTO
Laetitia Hertz
+33 (0)6 58 65 74 84
lhe@concerto-pr.com

CITIGATE DEWE ROGERSON
Kristell Le Nadan
+33 (0) 6 98 49 22 27
Kristell.lenadan@citigatedewerogerson.com

Lucas Rennesson
+33 (0) 7 63 73 05 61
Lucas.Rennesson@citigatedewerogerson.com

About Concerto

Concerto is a group specialised in business intelligence, strategic communications, and public affairs. With a presence across Europe, Africa and the Middle East, the group supports companies, institutions, and leaders in managing risk, reputation, and narratives in fast-changing markets. Concerto currently brings together over 60 professionals across Europe, Africa, and the Middle East.

About CAPZA

Created in 2004, CAPZA1 is an established European private investment platform focused on small and mid-cap companies, which is part of BNP Paribas Asset Management Alts, a leading European alternative investment platform with over €300bn in assets under management2.

With €10.5 billion of assets3, CAPZA puts its experience and passion for investing at the service of investors in Europe and worldwide with its platform of 6 complementary areas of expertise: Growth Tech, Flex Equity, Flex Equity Mid-Market, Private Debt, Transition4 and Artemid5.

CAPZA offers financing solutions to small and mid-cap companies at every stage of their development. Its unique platform allows CAPZA to support companies over the long term by providing them with custom made financing solutions (majority equity, minority equity, subordinated debt, senior debt, etc.). CAPZA is a generalist but has built up strong expertise in supporting companies in the health, technology, and services sectors.

CAPZA Group has more than 120 employees based in Paris, Munich, Madrid, Milan, and Amsterdam, and is part of AXA IM Alts, one of the world's leading alternative investment firms with €190 billion in assets under management5.

More information: https://capza.co

1 CAPZA is the commercial name of Atalante SAS, portfolio management company approved on 11/29/2014 by the « Autorité des Marchés Financiers » under GP-04000065.

2 Source: BNP Paribas AM Alts as of 30/09/2025.

3 Including assets advised by Artemid SAS. Based on valuations as of 30/09/2025 and including funds raised until December 2026.

4 The funds of the CAPZA Transition range are managed by the asset management company CAPZA, and advised by CAPZA Transition SAS which has financial investment advisor status (CIF in France), is registered under the Orias under the number 18001601 since the 03/23/2018.

5 The funds of the Artemid range are managed by the asset management company CAPZA and advised by Artemid SAS, which is a subsidiary of CAPZA and has financial investment advisor status (CIF in France). Artemid SAS is registered by the Orias under the number 14003497 since the 05/28/2014. 

[1] Atalante (commercial name CAPZA).