Fund database › Private Equity
Carmignac · LU2799473124
Part II SICAV Private Equity Luxembourg Article 8 Secondaries Co-Investments Buyout
Unit price (NAV) in EUR · share class n · 26 data points
Calendar years, calculated from the NAV series
Returns calculated by semiliquid.info from the NAV series, not an official provider figure. Taxes and the trading costs of reinvestment are not taken into account. Past performance is not a reliable indicator of future results.
These come from the factsheet, the PRIIPs KID or the monthly report. They may relate to a different reference date, a different share class or a longer period than the series above — the series starts with the first documented unit price, not necessarily with the launch. That is why the values sometimes differ.
| Performance 12M · as at 30 Jun 2026 | 11.79% |
| Since launch p.a. · as at 30 Jun 2026 | 39.20% |
Target return per the provider: No explicit target return. KID scenarios for class A over 5 years (after costs): stress -11.44 % p.a. (EUR 5,450), unfavourable 3.74 % p.a., moderate 10.07 % p.a. (EUR 16,160), favourable 12.93 % p.a. (EUR 18,370)
Provider figure or KID scenario — not a forecast by semiliquid.info. Target returns are not guaranteed.
What the fund does and how the portfolio is put together.
Risk indicator 6 of 7 from the key information document (1 = low, 7 = high); it captures liquidity risks only to a limited extent.
Portfolio breakdown
Broken down using semiliquid’s common taxonomy — provider labels are mapped onto shared categories so that funds can be compared. Only published figures are used; nothing is estimated.
Strategy
Strategy/sub-asset classes
Vintage
The basis is the PRIIPs KID of the share class we track — which makes it comparable across providers.
| Management fee | 1.95% |
| Total ongoing costs | 2.42% |
| Entry charge max. | 4.00% |
| Redemption fee | 5.00% |
| Performance fee | 15.00% |
| Hurdle rate | 5.00% |
| High-water mark | not documented |
Median across 31 funds in this asset class in our database, based on the PRIIPs KID. No statement about quality — cost structures differ depending on the strategy and on target-fund layers.
How you get into the fund, and on what terms.
The fund documents differ from one another: the factsheet cites monthly subscription with 14 calendar days' notice (orders accepted before 16:00 CET/CEST), the PRIIPs KID states: 'Every valuation day is a subscription day. Subscriptions must be submitted no later than one (1) business day before month end at 16:00 CET.' Payment must be received no later than 7 business days after the subscription date; NAV determined on the last business day of the month.
Semi-liquid means redemption only on fixed dates, with notice periods and upper limits. This is how it works for this fund — in the order the redemption process runs.
Units can be redeemed quarterly; notice must be given 90 days before the date; on each date the fund redeems at most 5 % of fund assets; for the first 3 months after subscription no redemption is possible.
The gate caps redemptions at 5 % of fund assets per date. If more investors want out at the same time, orders are scaled back pro rata or deferred to the next date.
From the notice being received to the money reaching your account: typically around 97 to 189 days — depending on how far away the next redemption date is. If the gate bites or redemptions are suspended, it can take considerably longer.
Quarterly - every valuation day falling on a quarter end is a redemption day; cut-off 16:00 CET on the last business day of the immediately preceding quarter (factsheet: '90 calendar days notice')
Redemption cap: 5 % of the fund's NAV, measured against the aggregate NAV per unit of the units redeemed on the preceding valuation day, NETTED AGAINST all subscription applications received on the same redemption day. IMPORTANT: the board may REDUCE the redemption cap to 2.5 % of NAV where this is in the best interests of the sub-fund and its unitholders. Requests in excess are met pro rata; the unfulfilled portion is treated as submitted on the immediately following redemption day.
Redemption: cut-off 16:00 CET on the last business day of the quarter preceding the redemption quarter (factsheet: 90 calendar days). Subscription: factsheet 14 calendar days vs KID 1 business day before month end
Lock-up period: redemption is not possible during the first THREE (3) MONTHS after the first NAV date. In addition, an early redemption charge of up to 5 % applies on redemptions within 18 months of the sub-fund's launch (classes A and I only).
The score measures only the contractual redemption mechanics (the higher, the more flexible) — not whether the fund actually stays liquid under stress. Weightings in per cent.
Who stands behind the fund, who it is authorised for — and what the figures rest on.
Carmignac Gestion Luxembourg S.A. (CSSF-authorised); PRIIP manufacturer Carmignac Gestion S.A., Paris (AMF no. GP97008). Fund managers: Edouard Boscher, Alexis De Chezelles, Megan Noelle Chew (all since 15 May 2024)
BNP Paribas, Luxembourg Branch
15 May 2024 (the fund's launch date and the date of the first NAV); term 99 years from launch
'semi-liquid, open-ended fund for PROFESSIONAL INVESTORS' (unlike the sister fund ELTIF Evergreen, which is open 'to all investors'). KID target market: investors with an investment horizon of at least five years who seek capital growth without a capital guarantee
France, Luxembourg among others; not available within French life insurance policies
MULTI-LAYERED, BUT PARTLY MITIGATED. The fund invests predominantly via SECONDARY INVESTMENTS, supplemented by selected primary investments and direct co-investments, with a focus on mature assets. At the level of the target funds acquired, the management fees and carried interest of the respective GPs arise in addition. IMPORTANT: according to the provider, a significant part of the allocation is made via secondary funds under CO-INVESTMENT AGREEMENTS THAT ARE EXEMPT FROM MANAGEMENT AND PERFORMANCE FEES ('a substantial allocation to secondary funds through co-investment agreements that are exempt from management fees and performance fees') - to that extent there is NO double charging. The KID risk warning also makes clear that, in the case of secondary investments, the fund cannot negotiate the contractual terms of the target funds
All figures come from our analysis of provider documents (product data as at 19 Aug 2026, distribution data as at 12 Aug 2026) and have not been conclusively verified.
Same asset class, sorted by overlap of sub-strategy — no recommendation, no ranking.