Phileas Asset Management is an independent investment management firm based in Paris. Ludovic Labal and Cyril Bertrand co-founded the company in December 2010 and lead the current team.

Phileas Asset Management focuses on one asset class: equities.

As specialists in long/short equity investment, our approach combines in-depth company knowledge and disciplined risk management. We use proprietary financial analysis and extra-financial analysis (ESG) models as part of our investment decision-making process.

We manage two funds: Phileas L/S Europe, launched in April 2011, and Phileas Equity Europe, launched in October 2015.

As a signatory of the PRI, PHILEAS ASSET MANAGEMENT is committed to an active and concrete ESG approach (commitment and voting policy, philanthropy).

Our investment team

Ludovic Labal

Founding Partner and co-manager of Phileas L/S Europe and Phileas Equity Europe

Ludovic Labal joined Lazard Frères Gestion in 2001 where he spent six years as a portfolio manager and became Head of mid-cap equities. In 2006, Ludovic moved on to the proprietary trading division at Exane, where he spent four years managing a long/short market-neutral portfolio of European equities. Ludovic graduated from the HEC Paris business school with a degree in accounting and finance and is a CFA charterholder.

Cyril Bertrand

Founding Partner and co-manager of Phileas L/S Europe and Phileas Equity Europe

Cyril Bertrand began his career in 1998 in Societe Generale’s equity sales division before moving to Exane where he became Co-head of sales for France and continental Europe. In 2009, he joined Ludovic Labal in the Exane equity proprietary trading division as a long/short market-neutral portfolio manager. Cyril is a graduate of the EM Lyon business school and holds a postgraduate diploma in finance and international capital markets from the Sciences Po university.

Our values


Our strategy is underpinned by a disciplined investment process.


We take an open-minded and pragmatic approach to portfolio building.


Our relationships with clients and partners are built on transparency.