Private equity firm Astorg, headquartered in Luxembourg, has announced a change in senior leadership, appointing Benjamin Cordonnier as chief executive officer. The move follows the transition of co-founder Thierry Timsit to the role of executive chairman.
Cordonnier joined Astorg in 2011 and has been a member of the executive committee since April 2024. He will take over day-to-day operational leadership of the firm, working alongside Judith Charpentier, who has been appointed co-managing partner. Both appointments are part of a broader succession process, according to a company statement.
Timsit, who co-founded Astorg in 1998 and has served as CEO since 2018, will remain involved in the firm’s strategic direction and continue to sit on all investment committees. The composition and leadership of the firm’s Flagship and Midcap fund investment committees remain unchanged.
Value creation focus
Cordonnier has led several of Astorg’s investment platforms, including IQEQ, Normec, and IPCOM, and oversaw more than 100 M&A transactions. He also established the firm’s portfolio performance team, focusing on value creation and operational oversight of portfolio companies.
Charpentier joined Astorg in 2009 and launched its healthcare investment practice in 2016. Under her leadership, the firm has invested over 6.5 billion euros in the sector. She has been a member of the investment committee since 2021 and became co-head of the firm’s Flagship Fund in 2023.
In addition to the CEO and Co-Managing Partner appointments, Astorg named Thibault Veber as Chief Operating Officer. He succeeds Guillaume de Malliard and will join the Executive Committee.
Astorg manages over 23 billion euros in assets and operates offices in Luxembourg, Paris, London, Frankfurt, Milan, and New York. The firm focuses on investments in healthcare, software, business services, and technology-based industrial sectors.