Novess - le Fonds Ess

Novess - le Fonds Ess is a growth-oriented private equity vehicle managed by Mandarine Gestion and domiciled in France, where it operates under the FPS regime and is structured as an ELTIF under the ELTIF 1.0 framework. The fund has been in operation since 2016 and is denominated in EUR. It was launched before the revised long-term fund rules took effect, and its ELTIF 1.0 designation shapes the eligible-asset and distribution parameters it works within; access is limited to professional investors, with marketing confined to its home market rather than passported across the wider European distribution network.

The vehicle is closed-ended, so capital is committed for the life of the fund rather than cycled through periodic dealing windows, and investor cash flows follow drawdown and distribution mechanics instead of a published subscription or redemption calendar. Exposure is built through growth-stage equity positions held to realisation, which means returns are delivered as portfolio companies are exited rather than through secondary liquidity. Reported assets stand at , with the direction of travel shown by , and the portfolio's regional allocation is set out in .

Within the Novantigo coverage universe of 494 vehicles as of 31 Aug 2026, the fund sits among 163 private equity funds and 80 funds domiciled in France, and is one of 32 that combine both characteristics. That intersection is the relevant comparison set for its size, trend and geographic positioning, each of which is benchmarked against those peers on this page.