LCL and Crédit Agricole Assurances acquire Milleis from AnaCap

AnaCap has sold French private banking group Milleis to LCL and Crédit Agricole Assurances, transitioning the Paris-based platform to the Crédit Agricole ecosystem after a period of private equity ownership.

The deal unites Milleis’s private banking, life insurance, and wealth management businesses with the retail bank and insurance arm of Crédit Agricole.

Milleis is structured around four regulated entities: Milleis Banque, which offers private banking services including lending, deposits, and investment advice; Milleis Vie, a life insurance company; Cholet Dupont Oudart, a wealth management advisory firm; and Cholet Dupont Asset Management, which runs portfolios and funds.

The group serves high-net-worth individuals, families, and entrepreneurs across France from its Paris base, providing integrated wealth structuring and asset management alongside its banking and insurance products.

For LCL, a Crédit Agricole retail bank with roughly 6 million individual customers and 320,000 business clients, the acquisition adds an established private banking platform, expanding its product set for affluent clients.

Crédit Agricole Assurances gains a life insurance manufacturer with an integrated wealth management distribution channel, deepening its footprint within the group’s client base.

AnaCap, a European private equity firm focused on financial services, exited Milleis through the sale to LCL and Crédit Agricole Assurances.

The firm had invested in the platform for several years, building out its private banking and wealth management offerings.

AnaCap typically targets banking, specialty finance, and technology-enabled service providers in European middle-market deals.