Hervé Besnard

CEO
Hervé Besnard
Hervé Besnard

Hervé founded Rivage Investment in 2010, and is the CEO of the company.

Prior to that, Hervé was Managing Director at BNP Paribas. He was in charge of the credit structuring department and head of the European teams. Hervé started his career in the BNP Paribas infrastructure project finance department. Hervé has over 25 years of experience in structured finance and capital markets.

He has an engineering degree from l’Ecole Centrale Paris.

Violaine Chassaing

Head of public sector debt funds
Violaine Chassaing
Violaine Chassaing

Violaine joined Rivage Investment in 2014. She has over 20 years of experience in capital markets, structured finance and credit structuring. She is currently in charge of Rivage’s structured finance and debt advisory business and also manages its public sector debt fund.

Violaine started her career in 1991 as a tax lawyer, working at Ernst & Young’s International Tax Services group in New York City. She then moved to capital markets in 1996 and has worked, first, as an interest rate derivatives structurer and, from 1998 as a credit structurer at Commerz Financial Products, IXIS CIB and Royal Bank of Scotland. In each of these positions, Violaine was responsible for originating, arranging and marketing structured credit transactions. Her product expertise includes credit derivatives, cash and synthetic securitisations (CDOs, CLOs), covered bonds, IR and FX derivatives, structured credit funds, securitization swaps, structured repos and asset repackagings using on-shore and off-shore SPVs.

Violaine is a graduate from HEC Paris and holds an LLM in International Tax Law from University of Paris XI School of Law and an MS in Taxation from Fordham University Graduate School of Business Administration (New York). Violaine was admitted to the Paris Bar in 1992.

Claire Gobert

General manager
Claire Gobert
Claire Gobert

Claire is in charge of administrative, legal, financial and control processes within Rivage Investment. She previously spent most of her career working at the AMF (“Autorité des Marchés Financiers”), but also as a legal auditor, and as an independent consultant for the creation and management of asset management companies.

She has significant experience in the organization of asset management firms including regulations and compliance, as well as a solid understanding of investment fund accounting. She worked for Deloitte then joined the AMF in 2001 where she was in charge of regulations for investment funds, portfolio management companies, and custodians. After that, from 2006 to 2012, she became a consultant for the major asset managers in Paris working on organization and regulation assignments as well as project implementation and internal control mandates.

She has the CIIA (Certified International Investment Analyst diploma) and the DSCG( advanced diploma in accounting and management). She’s a graduate from the French Society of Financial Analysts (SFAF), the law faculty of Lille 2 (France) and the ICN Business School in Nancy (France).

Alessandro Merlo

Strategic growth initiatives manager
Alessandro Merlo
Alessandro Merlo

Alessandro is a managing director of Rivage Investment, overlooking their strategic growth initiatives.

Alessandro has over 20 years of experience in infrastructure finance. Until May 2023, Alessandro led UBS AM infrastructure debt business, raising and investing over EUR 2.0bn in more than 30 investments and across 14 jurisdictions. Before that, Alessandro worked at Moody’s, covering EMEA infrastructure clients, at Citigroup in the infrastructure M&A and debt teams and Intesa Sanpaolo.

Alessandro holds a Master in Economics from Toulouse School of Economics and a Degree in Economics from Università di Genova.

 

Patrick Raffard

Head of business development
Patrick Raffard
Patrick Raffard

Patrick joined Rivage Investment in 2016 as the head of business development.

Patrick started his career as an interest rate swaps trader for BNP and Commerz Financial Products in Paris, Frankfurt and Prag. He moved then to a marketing position, in charge of sales of derivative products to East European corporates for Credit Lyonnais London. From 2000 until 2012, Patrick worked at Edmond de Rothschild Investment Managers as the Head of Business Development. He was responsible for the coverage of many European institutional investors and distributors on asset management products such as structured products, fixed income funds and hedge funds. He moved to Kepler Cheuvreux in 2013 where he intermediated illiquid assets. During this period he met Rivage Investment and started a fund raising activity during the first marketing campaign of a multi investors infrastructure debt fund by Rivage Investment.

Patrick graduated from Sciences Po Paris.

Thierry Seng

Deputy CEO, senior manager
Thierry Seng
Thierry Seng

Thierry is in charge of the quantitative strategies for the front office teams, the R&D department (modeling and pricing models) and the information systems. He has over 14-years’ experience.

Thierry worked as a senior credit structurer at BNP Paribas in London from 2006 to 2010. He was in charge of the design and the follow-up of clients’ investments for a wide range of structured products, as well as algorithmic strategies. Prior to that, Thierry worked in a hedge fund specialized in statistical arbitrage (2004).

Thierry holds a Master’s degree in Financial Mathematics from the Jussieu University (Paris VII) and a Master’s degree in civil engineering from l’Ecole des Mines de Nancy (France).

Arnaud Serougne

Senior advisor infrastructure debt
Arnaud Serougne
Arnaud Serougne

Arnaud joined Rivage Investment in 2014 and is in charge of the origination and debt project management for our clients investments.

Arnaud has 20-years’ experience in capital markets and structured debt. He started his career in 1990 at the Compagnie Bancaire, the specialised financial services control holding group of Paribas. He was responsible for the finance and ALM activites until 1997. Then, he joined the Crédit Lyonnais as a senior originator, and was responsible for the bond syndication afterwards.

From 2001, Arnaud worked at WestLB AG in London as a senior originator for France and Southern Europe debt issuers. He worked in structured finance at WestLB Paris from 2006 to 2009 where he was responsible for the infrastructure sector, financial acquisition transactions and LBOs. From 2010 to mid 2014, Arnaud was senior originator in the infrastructure debt team of WestLB London where he refinanced Eiffarie and the A150 highway, then managed the “distressed debt” portfolio, where he actively contributed to the financial restructurings of several LBOs and France and Southern Europe projects.

Arnaud is a graduate from Centrale Paris and has an International Finance Master from HEC.

Eric Thamin

Head of Growth debt
Eric Thamin
Eric Thamin

Eric Thamin joined Rivage Investment in 2021 to launch a Growth debt initiative targeting Climate and decarbonization solutions in Europe.

He has 25 years of experience in Corporate Development, Corporate M&A and Strategy and investment advisory. Over the 1997 – 2016 period, he worked at Veolia (utilities), Asterop (software & data), then Tages (M&A advisory) then SIG plc (Building Materials) in various corporate development roles. From 2016 to 2019 he was Group Strategy and M&A Director at Quadient SA (SBF 120 company, hardware and software, 1.1 B€ turnover, 50% of which in North America). His sectorial expertise covers notably Software and Hardware, Construction and Building Materials, Utilities and Waste management. In terms of M&A track record he has completed more than 30 deals, in Europe and North America, investing more than 500 M€ overall, with a high diversity in terms of counterparts (entrepreneurs, start-ups, family owned businesses, Private Equity and VC, Corporates, JVs). He has also realized several divestments. He has extensive experience in the innovation, growth companies and VC ecosystem (notably via Asterop’ Series A done with Accenture Technology Ventures as lead investor, and while at Quadient being an LP within two leading VC Funds in Europe).

He graduated as engineer from Ecole Centrale Paris

Gaétane Tracz

Head of infrastructure debt
Gaétane Tracz
Gaétane Tracz

Gaétane joined Rivage at the end of 2017 as an investment director. She had spent the 10 previous years as a Director at KPMG within the global infrastructure and Project group where she provided advisory to construction firms and infrastructure funds for their financial closings. The projects analyzed were PPPs and concessions in France and Africa.

Gaétane started her career in 2000 as an infrastructure specialist at French Ministry of Public Works and Transportation before joining the World Bank in 2003 where she advised the governments of Hungary, Russia and Georgia on infrastructure projects and developed financial models to assess the credit worthiness of infrastructure projects in various countries of Eastern Europe and Asia.

Gaétane holds a Masters in corporate finance from Conservatoire National des Arts et Métiers, a Masters in Management from New York University and a Masters in Civil and Transport Engineering from ENTPE Lyon.