The 12th edition of the Asset Management Summer University, organized by the House of Finance of Paris Dauphine University — PSL, with Quantalys and Sanso Longchamp AM, will take place on Thursday, August 28, 2025 at the University Paris Dauphine-PSL.

Private assets, formerly reserved for institutional investors, are now open to individuals. This democratization is explained by the search for diversification in an uncertain market context and by the need of asset managers to multiply the sources of financing. Unlisted assets, such as private shares or infrastructure, make it possible to build more resilient portfolios thanks to their low correlation with traditional markets.

This movement is supported by a more favorable regulatory framework, especially in France with the PACTE law, which facilitates access to these assets through life insurance or retirement savings. The major challenges of our time — such as the energy or technological transition — also require significant financing, where private assets can play a key role. Innovation in investment products (ELTIF, evergreen vehicles, etc.), the emergence of active ETFs and tokenization open up new perspectives, but also complicate portfolio analysis.

It is in this context that the 12th Asset Management Summer University will bring together experts and professionals to reflect on the challenges of this convergence between listed and unlisted assets.

On the program:

- 14:00 Introduction

Elyès Jouini, Professor, Director of the House of Finance, University of Paris Dauphine-PSL, Administrator of the Institut Universitaire de France

- 14:10 Private assets, listed managers: what does academic research say?

Sara Ain Tomar, Assistant Professor, Neoma Business School

- 14:30 Between private and listed assets: The new frontiers of asset allocation

Matthieu Barrailler, PhD, Quantitative Engineer, Sanso Longchamp AM

- 14:50 The distribution of unlisted assets: When digital and ESG are changing the game

Jean-Francois Bay, BoursoFirst, BoursoBank

- 15:10 What are the current allocations and strategies on private assets for long-term investors?

Investor roundtable moderated by Nicolas Duban, strategy advisor, with the participation of

Gorka Gonzalez Garcia, Retail Activity Director, BPI France,

François-Xavier Hay, Director of Investments and Asset-Liability Management/CCR,

Chloé Pruvot, Investment Director, EDF

- 16:00 Management solutions

With the participation of: Amundi, Opale Capital/ Tikehau, Invesco, Fidelity International

(Topics to be announced soon)

- 17:20 Will the ETF become the envelope of choice for all investment strategies?

Arnaud Llinas, Senior Advisor and Investor, ETFbook, BlackFin Capital Partners

- 17:40 Is Private Equity or Private Equity, an asset class like any other for the general public?

Anne Gaignard, Executive Director, Investors Market

- 18:00 Conclusion

Philippe Setbon, President, French Financial Management Association, AFG

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