Lionel Le Maux, President

Lionel Le Maux began his career in 1996 at Oddo where until 2003 he managed funds investing in French mid-caps (Oddo Avenir) and European mid-caps (Oddo Europe Mid Caps). Building on this experience (ranked in the top 10 of French funds over that period), he co-founded in 2003 the asset management company Flinvest with asset under management going from 15 to 700 M euros in four years (Fund ranked number 1 in Europe between 2004 and 2006).

He worked as Managing Director until the sale of his stake in 2007. Lionel Le Maux then progressed on to private equity and co-founded the Aqua investment holding company (invests in SMEs in the environment and renewable energy sectors) and the Marignan investment holding company (that invests in French SMEs).

He is co-founder of Evergaz, which has become one of the major players in the biogas industry in Europe.

A partner of Aqua Asset Management, Lionel Le Maux is President and a member of the Investment Committee.

Lionel Le Maux is a graduate of the Kedge Business School.



Daniel Bendavid began his career in the M & A department of the Ernst & Young Group. He provided support to growth companies with mergers and acquisitions.

He then joined the Family Office COGEPA, an investment holding company made up of long-standing shareholding families of the ATHENA Insurance Group and with € 500 million in equity.

He structured and developed an investment strategy geared towards non-listed companies, including in Private Equity, with a direct approach on the French market and a co-investment approach internationally.

As Managing Director and Investment Director, he completed more than 50 Private Equity transactions, developed investment solutions with Entrepreneurs and Family Offices and formed partnerships with international management teams.

He thereafter founded Strategic Investment, a consulting firm for entrepreneurs and Family Office.

In 2018 he joined Aqua Asset Management as a partner. He is Managing Director and a member of the Investment Committee.

Daniel Bendavid is a graduate of HEC, MS Entrepreneurs.