The Operating Collective
THE OPERATING
COLLECTIVE
Operational confidence for value creation
PE funds

The capacity of an operating partners team,

Shared across several funds and portfolio companies. Mobilised mission by mission.

Work with us
The shift

Value creation now plays out in operations.

35% vs 26%

Average IRR for deals with an operating partner at entry and exit, versus without (118 deals). An observed gap, not a promise.

76 → 185

operating partners recorded in France between 2019 and 2024.

5 → 5.7 years

average holding period for portfolio companies, between 2017 and 2024.

France Invest × Alvarez & Marsal, 2nd Operating Partners Club study, Dec. 2024 ↗

Deloitte × I&S Adviser, April 2026

Not every fund can build this capacity in-house. We share it.

What you gain

Execution, not another audit.

01

P&Ls already run

Partners committed on EBITDA, cash and milestones, measured in your own reporting.

02

Paid on use

Capacity reserved mission by mission, never a fixed cost centre.

03

One point of contact for the portfolio

The context of your theses stays current; the right expertise steps in at the right time.

Trust

Confidential during the hold. Ready for exit.

The pooling is of expertise, never of information.

  • Each mandate is siloed, including between funds in adjacent sectors.
  • A lead partner is accountable for what circulates, and what doesn't.
  • Confidentiality commitments defined with you before kickoff.

The exit is prepared during the hold.

  • An equity story built on verifiable operational grounds.
  • The product, tech and organisation data room, ready for acquirers.
  • Operational continuity tracked through to closing.
Formats

Four ways to work with us.

Annual retainer

Portfolio operating committee

Follow-up of your portfolio companies by the four partners, to anticipate tensions.

Fixed-fee

Targeted engagement

Operational due diligence, 100-day plan, product and tech audit, exit preparation.

Shared time

Interim executive

Interim CFO, COO or CPO to secure a critical phase.

A few boards a year

Independent director

An operational voice on the board, alongside your own representation.

Next step

A thesis to execute, a portfolio company under strain, an exit to prepare?

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« Experienced Operating Partners.
One mandate: operational execution, alongside you. »