Our mission
We establish long-term PE/VC investment partnerships with leading investment offices and private investors.
Château Les Crostes
Next annual rendez-vous
in September 2025
Message from our Managing Partner
Rajaa Mekouar

Calista Direct Investors is the result of my 20+ years of Private Equity investing throughout Europe, with roles at PE/VC funds, family offices and as Head of the LPEA (Luxembourg Private Equity Association) more recently. The common thread throughout my journey has been my passion for entrepreneurship and the potential of private markets to deliver strong, long-term returns to private investors.

Today, as private markets are coming of age, I am proud to bring all my expertise and network to best serve private investors out of Luxembourg, the European hub for PE/VC dealmaking and investing, alongside a team that shares the same values and ethos and brings complementary skills to our clients.

The common thread throughout my journey has been my passion for entrepreneurship and the potential of private markets to deliver strong, long-term returns to private investors.

The common thread throughout my journey has been my passion for entrepreneurship and the potential of private markets to deliver strong, long-term returns to private investors.

Who we are

Calista’s network of over 300 families and entrepreneurs provides a rich ecosystem for sourcing deals and sharing insights.

Calista is a disrupter in a heavily intermediated market. We sit alongside the families, as an extension of their investment team, working as their partner. As such, our revenues exclusively come from our investors, and we go further, as we co-invest with them when possible, knowing the investment decision rests with them exclusively.” This approach marks a significant departure from traditional investment models, emphasising alignment and transparency with family office clients.

This approach has resonated with family offices seeking more direct involvement and alignment in their investments. Calista’s network of over 300 families and entrepreneurs provides a rich ecosystem for sourcing deals and sharing insights. In 2023 alone, the firm reviewed over 500 direct investment opportunities and 300 fund opportunities, showcasing the depth of deal flow available to family offices.

At the heart of Calista’s offering is the “Observatoire”, a platform that serves as a lens through which the firm constantly discerns key trends in PE/VC from the perspective of family offices and entrepreneurs. This unique vantage point allows Calista to monitor how investment profiles evolve over time and showcase top trends, sectors, and regions that resonate with their family office clients.

They support us
Governance
  • Managing Partner
Rajaa Mekouar
  • Former CEO LPEA
  • Former Head of PE at Family Office Worked as GP, LP and Co-investor in Europe, Asia and the US
  • Advisory Board member of Spuerkeess
  • Inspirational Woman in Finance Award 2020
  • Top 100 Executive Women Luxembourg
  • HEC Grande Ecole (Paris)
  • MBA Insead
Read more
  • Chairman
Serge de Ganay
  • Previously chairman of the IAS/Bemberg group- a 125-year-old Family Business investing in Industry and Finance
  • Founded and managed Group G, a consulting company dedicated to strategy and organization
  • Board of Directors of Château Latour
  • International advisory board of Sotheby’s and MoMA (NYC)
  • Speaker in various institutions such as INSEAD, the Harvard Club and FBN on topics around family business
Read more
  • Vice Chairman
Louis De Clercq
  • Founder & CEO of Capnor, a Belgium-based single-family office focused on PE/VC
  • Chairman of ODE and Medi-Market
  • Former investment professional at Groupe Bruxelles Lambert (GBL)
  • Former investment banker at Goldman Sachs
  • Graduate of the London School of Economics and IE Business School
Read more

We are the go-to platform for investors who seek to tackle their private investment exposure with a professional, cost-efficient and fully aligned approach.

Rajaa Mekouar
Message from our Chairman
Serge de Ganay

The potential of Private Equity and Venture Capital, presents gigantic opportunities but also potentially great risks.

Family offices and private investors increasingly express a strong appetite for this asset class but are quickly confronted with access, valuation, monitoring, and suitability issues.

This is where the business of Calista lies: the team is dedicated to supporting its families to optimise their exposure in this asset class, as their outsourced investment team.

Under the leadership of our Managing Partner, Rajaa Mekouar, the business is going full speed. Clients and employees seem to be seduced by a positioning where the client is at the heart of the business model, more than the investment”.

This is where the business of Calista lies: the team is dedicated to supporting its families to optimise their exposure in this asset class, as their outsourced investment team.

This is where the business of Calista lies: the team is dedicated to supporting its families to optimise their exposure in this asset class, as their outsourced investment team.

Calista's
Major milestones
  • 2021
    February 2021
    Launch of Calista Direct Investors

    Founded in 2021 in Luxembourg, Calista Direct Investors is an international advisory and co-investment firm focused on Private Equity and Venture Capital.

  • June 2024
    Launch of Observatoire
    2024

    Calista Direct Investors hosted an exclusive event for its families, to launch its “Observatoire”, a new annual rendez-vous during which families get to learn, share and discuss current PE/VC market trends among themselves and with high- profile speakers.

  • 2025
    February 2025
    Calista Direct Investors welcomes Capnor

    Calista Direct Investors announces a strategic milestone by welcoming CAPNOR and its founding CEO, Louis De Clercq, as its new reference shareholder, reinforcing its presence in Belgium and its position as a key partner for single-family offices in PE/VC.

We are Calista​
Executive team​

Calista Direct Investors is represented by a professional team with complementary skills and experience across the PE/VC spectrum, with the highest commitment to the task at hand and strongest sense of ethics.

Explore our curated collection of lockets, where craftsmanship and emotion intertwine to create wearable works of art. Uncover the hidden stories and personal connections that make each locket a cherished treasure.

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Countries covered
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  • Former partner and Managing Director in a large regulated multi-family office
  • Over 30 years of experience in organization, finance and accounting in the financial sector
  • Former COO and CFO at J.P. Morgan Chase in London and Paris
Claude Lutz
COO
  • Former experience in New Models at Allianz Partners
  • Corporate M&A and strategic risk at BNP Paribas
  • Graduate of HEC Paris Grande Ecole and National Taiwan University
Hung-Ying Chen
Director
  • Previous experience as junior accountant
  • Graduate of the University of Luxembourg and Haute Ecole de Namur- Liège-Luxembourg
Bruno Fernandes Do Vale
Senior Finance & Corporate Manager
  • IÉSEG School of Management, MSc in Finance
  • Previous experience at Investindustrial as Intern Analyst
  • Intern at Disney Orlando and KPMG Luxembourg
Tom Leonardi
Associate
  • Graduate of the London School of Economics and Durham University
  • Previous experience in Investment Banking at Silvermile Capital
  • Former Intern at Baring Asset Management and ACA Global
Rupert Arnold
Associate
  • Graduate of IE Business School
  • Venture Capital Intern at Proximity Capital
  • Undergraduate of Università Bocconi
Guglielmo Previtali
Analyst
  • Graduate of Università Bocconi
  • VC Intern at Vsquared Ventures
  • Obloo and Norrsken22
Gustaf Cramer
Analyst
  • Former M&A Specialist at Everfield
  • Ex-EY Corporate Finance M&A Associate
  • IE & ESB Business School
Javier Barrientos Garcia
Principal - Directs
  • Previously a VP at Alpinvest Partners
  • Former Deutsche Bank IB
  • HEC Lausanne
Pit Lucius
Principal - Funds
  • Former partner and Managing Director in a large regulated multi-family office
  • Over 30 years of experience in organization, finance and accounting in the financial sector
  • Former COO and CFO at J.P. Morgan Chase in London and Paris
Claude Lutz
COO
  • Former experience in New Models at Allianz Partners
  • Corporate M&A and strategic risk at BNP Paribas
  • Graduate of HEC Paris Grande Ecole and National Taiwan University
Hung-Ying Chen
Director
  • Previous experience as junior accountant
  • Graduate of the University of Luxembourg and Haute Ecole de Namur- Liège-Luxembourg
Bruno Fernandes Do Vale
Senior Finance & Corporate Manager
  • IÉSEG School of Management, MSc in Finance
  • Previous experience at Investindustrial as Intern Analyst
  • Intern at Disney Orlando and KPMG Luxembourg
Tom Leonardi
Associate
  • Graduate of the London School of Economics and Durham University
  • Previous experience in Investment Banking at Silvermile Capital
  • Former Intern at Baring Asset Management and ACA Global
Rupert Arnold
Associate
  • Graduate of IE Business School
  • Venture Capital Intern at Proximity Capital
  • Undergraduate of Università Bocconi
Guglielmo Previtali
Analyst
  • Graduate of Università Bocconi
  • VC Intern at Vsquared Ventures
  • Obloo and Norrsken22
Gustaf Cramer
Analyst
  • Former M&A Specialist at Everfield
  • Ex-EY Corporate Finance M&A Associate
  • IE & ESB Business School
Javier Barrientos Garcia
Principal - Directs
  • Previously a VP at Alpinvest Partners
  • Former Deutsche Bank IB
  • HEC Lausanne
Pit Lucius
Principal - Funds
Sourcing & selection
Core values

Vision
Be the go-to platform for investors who seek to tackle their private investment exposure with a professional, cost-efficient and fully aligned approach.

Mission
Establish long-term PE/VC investment partnerships with leading investment offices and private investors as their outsourced deal team.

Entrepreunarial-Mindset
Family Spirit
Striving for Excellence
Strong Ethics
Trustworthiness
They support us
Strategic Advisors
They support us
External advisors
Calista relies on experts to assist us with important support functions that include:
Talent/Leadership/Human Resources, IT/Data/Cybersecurity and Tax consulting
Don't Miss
Events & Programs

External Partners

Calista is supported by a professional network of external partners we work with closely on a partnership basis.

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19 rue Aldringen
L-1118 Ville-Haute, Luxembourg
‍RC B251158
VAT no. LU36471885


18 Woodstock Street
W1C 2AL London, United Kingdom
Company number 16220362


Brussels
479 Chaussée de Louvain,
Lasne 1380, Belgium