Former Eurazeo CEO Virginie Morgon Launches Sustainable Private Equity Firm Ardabelle Capital
Virginie Morgon, one of the most influential women in European private equity and the former CEO of Eurazeo SE, is making waves once again with the launch of her new venture, Ardabelle Capital. The firm, with a focus on sustainable investments, plans to raise €500 million ($554 million) next year to kickstart an investment fund centered on climate strategies.
Morgon, who has long been an advocate for sustainability and diversity, said the new private equity firm will target profitable mid-market companies across Europe, the US, and Canada, focusing on sectors that can accelerate the global transition to net zero.
“Climate buyout is the missing middle in the private equity market,” Morgon said in an interview. “More players are needed to help medium-sized companies transition and align their operations to an overall net zero.”
A Focus on Climate and Sustainable Business
Ardabelle Capital will focus on investments in consumer goods companies that are integral to the sustainability ecosystem, such as those specializing in sustainable ingredients, packaging, waste management, recycling, and water system efficiency. The firm’s transatlantic operations will be based in New York and Europe, bringing together a diverse team of industry veterans to drive its mission forward.
Among the founding partners are Bertrand Austruy, a former executive at Danone, Julien Gattoni, the ex-CFO of the World Economic Forum, Noemie Flammarion, previously with Suez, and Cara Kennedy-Cuomo, adding further depth to Ardabelle’s leadership.
A New Era for Private Equity Amid a Green Revolution
Morgon’s decision to focus on climate investments comes at a time when sustainability is gaining momentum in the investment world, even as the private equity sector grapples with challenging fundraising conditions. With tougher markets for dealmaking and increasing demands for thematic and impact-driven funds, Ardabelle Capital’s launch seems poised to capitalize on growing investor interest in green assets.
“The interest rate environment is more stable now than it has been for years, and LPs (Limited Partners) are responding really positively to thematic funds,” Morgon said. “It’s a massive investment opportunity, especially in the climate and sustainable space.”
Morgon brings years of financial expertise to her new venture, having transformed Eurazeo into a global, multi-strategy investment firm managing over €20 billion in diversified assets. A former Lazard Ltd. investment banker, she has advised major corporations such as Danone, Publicis, and Renault, and was appointed Lazard’s youngest managing senior partner. Her leadership at Eurazeo from 2018 until her departure last year solidified her reputation as a pioneering force in the private equity world.
Morgon’s exit from Eurazeo followed a shareholder power struggle after the death of the firm’s founder, but her new venture underscores her enduring influence in the finance world. Her work as a vocal advocate for diversity and equality has earned her a spot on Fortune’s “Most Powerful Women International” list, and she has been recognized with both the Knight of the Legion of Honor and the Knight of the National Order of Merit.
A Legacy of Leadership and Vision
With Ardabelle Capital, Morgon is looking to leave her mark on a new frontier — sustainable investments. Her track record speaks to her ability to identify and capitalize on market opportunities, and her leadership team brings a wealth of experience across industries and continents. By focusing on the “missing middle” of climate buyouts, Ardabelle Capital aims to bridge the gap for companies in critical sectors as they work to meet global climate goals.
Virginie Morgon’s vision for Ardabelle Capital represents a significant step forward for sustainable investing, and her new firm is poised to play a pivotal role in helping mid-market companies achieve their environmental ambitions.
Adele Simmons
Financial Desk
