In this article, Emmanuel CYROT (ESSEC Business School, Global Bachelor in Business Administration (GBBA), 2021-2026) shares his professional experience as a Product Development Specialist within the marketing team at Amundi ARA under the Senior Product Development Specialist and the Director of Marketing and Communication.
About the company
Amundi Alternative & Real Assets (ARA) is a specialized business line within the Amundi Group dedicated to private market investment solutions, managing approximately €66.1 billion in assets as of late 2025. Formally established in 2016 to consolidate the group’s capabilities, ARA employs a team of roughly 330 professionals operating across eight European investment hubs (including Paris, London, Milan, and Zurich). The division provides institutional and retail investors with access to the real economy through a diverse range of products, including real estate (its largest segment), private debt, private equity, and infrastructure, as well as fund of funds strategies and Hedge Funds UCITS (Undertakings for Collective Investment in Transferable Securities) which are a liquid versions of hedge fund strategies to a broad base of retail investors in Europe.
Logo of Amundi Investment Solutions.
Source: the company.
The Marketing team at Amundi ARA, comprising approximately 15 members (including a robust cohort of interns and apprentices), acts as a specialized bridge connecting Clients with the Sales team. Their primary mandate is to translate complex private market strategies into commercially viable investment solutions tailored for both institutional and retail investors. The team utilizes a highly structured support model where every specific area of expertise is represented by a dedicated “Investment Specialist,” each of whom is directly supported by an assigned intern.
My internship
The internship lasted 6 months between March and August 2025 and was reporting directly mostly reporting to the Senior Product Development Specialist in the team and monitoring new fund launches across to all teams within ARA: Sales, structuring, Investments Teams, Business Development, etc.
My missions
My primary mission was to participate in the conception, structuring, and launch of two new funds within the ARA range. To support this, I conducted detailed market analyses and competitive studies, specifically benchmarking French and Luxembourgish evergreen funds using professional terminals like Preqin, Pitchbook, and Bloomberg, which provided access to crucial data on performance, management fees, Assets under management, redemption gates, lock-up periods, etc.
I was also responsible for the collection, analysis, and dissemination of sectoral Business Intelligence data. I produced reports designed for the Sales, Marketing, Management teams to aid in decision-making for meetings internally and externally.
Another major part of my mission was the creation and updating of marketing materials, including pitchbooks, brochures, and product sheets. This ensured that the sales teams had accurate and compelling documentation to promote the funds to investors.
Required skills and knowledge
This role required strong communication and organizational skills to coordinate effectively across diverse teams and manage product launch deadlines. Intellectual curiosity and discipline were essential for synthesizing complex market studies without external AI assistance, alongside the ability to filter relevant business intelligence from general noise. Finally, technical proficiency in Excel and data providers (Bloomberg, Preqin, Pitchbook) was critical, coupled with a rapid understanding of the specificities of Private Assets vehicles.
What I learned
Through the benchmarking and product launch support, I gained a systematic understanding of how private asset funds are structured and positioned in a competitive market. I developed the ability to assess market needs and translate them into product features.
My contribution helped streamline the flow of Business Intelligence between the structuring and sales teams. I also deepened my understanding of the regulatory and commercial requirements for launching funds in the European market. Overall, this internship strengthened my skills in market analysis, product marketing, and strategic communication.
Financial concepts related to my internship
I present below three financial concepts related to my internship: Evergreen funds, UCITS hedge funds, and Private Equity funds.
Evergreen Funds
Unlike traditional closed-ended Private Equity or Private Debt funds with finite terms and J-curve effects, evergreen funds function as semi-liquid open-ended vehicles allowing for continuous capital recycling. My work focused on benchmarking the liquidity management mechanisms of French and Luxembourgish vehicles such as ELTIF 2.0, which is the European Long-Term Investment Fund regulation designed to increase retail and institutional investor participation in long-term, illiquid assets. I analyzed key technical features including NAV (Net asset Value) calculation frequency, the calibration of redemption gates, notice periods, and the implementation of liquidity sleeves to mitigate the asset-liability mismatch inherent in offering liquidity on illiquid underlying assets.
UCITS Hedge Funds
Alternative UCITS (often referred to as “Liquid Alts”) democratize access to hedge fund strategies (e.g., Long/Short Equity, Global Macro) by wrapping them in a regulated UCITS framework. My benchmarking work involved analyzing how these funds offer weekly or daily liquidity and high transparency to investors, unlike their offshore Cayman or BVI counterparts which often impose lock-up periods and gates.
Private Equity Funds
A central part of this role involved the strategic overhaul and tailoring of investor pitchbooks and marketing materials. This required translating complex fund structures and performance data into clear, compelling narratives for both institutional and retail investors. In that context, I learned the key concepts of Private Equity Funds alongside helpful formations that were provided by Amundi. This allowed me to familiarize well with metrics used to analyze PE funds (DPI, TVPI, J-Curve…) and different strategies (Mid-market, Impact).
Why should I be interested in this post?
This post is for you if you want to be at the forefront of asset management, specializing in the growing world of Private Markets (Private Equity, Infrastructure, Impact). It’s an excellent chance to learn deeply about product structuring and the commercial lifecycle of funds, all within a honestly great, supportive environment that ensures you gain hands-on experience and valuable strategic insight.
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Useful resources
Opalesque Alternative Market Briefing
About the author
The article was written in December 2025 by Emmanuel CYROT (ESSEC Business School, Global Bachelor in Business Administration (GBBA), 2021-2026).
▶ Read all articles by Emmanuel CYROT.