Cigogne Management surpasses 2 billion in assets under management and points to a favorable environment for alternative management
16 FEB, 2026
By Joanna Piwko from RankiaPro Europe
La Française has announced that its subsidiary specializing in alternative investments, Cigogne Management, has exceeded 2 billion euros in assets under management. With more than two decades of experience, the firm consolidates its position in arbitrage strategies and expands access to approaches that were previously reserved for institutional investors.
Cigogne Management deploys a wide range of arbitrage strategies aimed at capturing market inefficiencies in different environments. Its specialties include credit arbitrage, ABS/MBS arbitrage, CLO arbitrage, fixed income arbitrage, mergers and acquisitions arbitrage, and convertible arbitrage.
The manager combines the agility of an entrepreneurial structure with the backing of a large group. Its model integrates the experience of CIC operators and Cigogne Management portfolio managers, promoting constant communication throughout the entire investment process: from anomaly detection, through strategy selection, to portfolio construction.
The team is composed of 20 specialized professionals, a factor that, according to the firm, contributes to the disciplined execution of its strategies and its ability to adapt to different market regimes.
An environment that favors arbitrage and diversification
The firm believes that the current market context is especially conducive to alternative strategies. The greater volatility, geopolitical tensions, large public deficits, and uncertainty about monetary policy are multiplying movements and inefficiencies in the markets. Joffrey Czurda, CEO of Cigogne Management, states that "the best opportunities usually arise when markets are under pressure and trade at a discount".
In this scenario, arbitrage strategies seek to generate alpha not correlated with traditional markets, with less dependence on directional movements dominated by a handful of large capitalizations. For investors, this translates, according to the firm, into a more balanced risk-return profile and a greater capacity for diversification and resilience of portfolios.
