Carnot Capital is an impact asset manager for equities


Since 2007 Carnot invests in stocks of companies leading the way to a carbon-neutral circular economy.

Eversince, the fundamental quality investment style delivers very good investment results.


Swiss pioneer in
Impact Asset Management


From its inception in 2007, Carnot Capital specialized in energy and resource efficiency. Since then, Carnot has managed investment vehicles with a positive impact in the world and has the expertise to identify and document the impact. Carnot follows a quality investment style that integrates ESG criteria as much as innovation strength and profitability. Since 2013, Carnot has been a FINMA-licensed and supervised asset manager for collective investments.

The name Carnot Capital refers to the French physicist Nicolas Léonard Sadi Carnot (1796 - 1834). Carnot was able to define the physically maximum possible efficiency of a heat-power machine. The increase in efficiency describes the improvement of energy efficiency, which is the guiding principle of Carnot Capital.


Year of incorporation


Years track record


Assets under management

Our Team

  • Rolf Helbling
  • Andres Gujan
  • Dr. Andreas Walther
  • Lukas Götz
  • Janina Bianchera
  • Nico Häberle
  • Manuel Imhof
Rolf Helbling
Rolf Helbling
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Portfolio Manager

Rolf Helbling co-founded Carnot Capital in 2007. He was responsible for the management and distribution of an infrastructure fund at BZ Fund Management. Previously, he was in charge of institutional investment clients within BZ Bank and led research in the industrial and telecom sectors. Before joining BZ Group, he learned the private equity business at Bank Vontobel and the corporate banking business at Citibank in Zurich and New York.

Rolf Helbling holds a degree in business administration from the University of St. Gallen (lic.oec.HSG) and is a Chartered Financial Analyst (CFA).

Andres Gujan
Andres Gujan
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Portfolio Manager

Andres Gujan co-founded Carnot Capital in 2007. He was an analyst for mechanical engineering, real estate and electricity companies at Valartis Bank, and was responsible for Valartis Bank's investment portfolio, advisor to institutional clients and involved in the issuance of derivative investment products. Prior to that, he held senior positions at Bank Vontobel and Kepler Equities, responsible for financial analysis.

Andres Gujan is a graduate of the University of St. Gallen (lic.rer.publ.HSG) and a Chartered Financial Analyst (CFA).

Dr. Andreas Walther
Andreas Walther
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Chief Impact Officer, Controlling, Risk Management and Compliance

Andreas Walther co-founded Carnot Capital in 2007. He worked for Valartis Group, an investment bank listed on the SIX Swiss Exchange and specialized in equities and derivatives. As CFO and member of the Executive Board for many years, he was responsible for the financial management of the bank and group. In addition, he held various directorships in Switzerland. He started his professional career at Alusuisse-Lonza Holding AG, Zurich, in Corporate Controlling.

Andreas Walther studied general economics at the University of St. Gallen and earned his doctorate in economics.

Lukas Götz
Lukas Götz
Lukas Götz linkedin-icon phone-icon mail-icon
Portfolio Manager

Lukas Götz worked for 10 years in various functions at Schaffhauser Kantonalbank. Most recently, he worked as a client advisor for private clients in Switzerland.

Lukas Götz obtained a Master's degree in Banking and Finance with a specialization in Capital Markets and Data Science from the ZHAW School of Management and Law.

Janina Bianchera
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Head of Marketing

Janina Bianchera has extensive expertise in marketing communications. She has demonstrated her skills at a renowned international advertising agency, working on accounts such as Credit Suisse in private banking and sponsorship. Additionally, she expanded her experience at well-known companies in the retail and real estate sectors.

Nico Häberle
Nico Häberle linkedin-icon mobile-icon mail-icon

Nico Häberle is studying at the University of Zurich (UZH) in the B. A. in Banking & Finance and  General Economics.

Manuel Imhof
Manuel Imhof
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Strategic Business Development

As part of the close partnership between SSI Wealth Management and Carnot Capital, we were able to recruit Manuel Imhof. He is responsible for the strategic business development and the evaluation of new partnerships with the aim to expand Carnot Capital's reach.

Manuel Imhof holds an MBA from the University of Lugano, a MAS in Banking and Finance (CFA Track) FH and a Bachelor of Arts in Business Administration. Manuel Imhof has over 12 years of experience in portfolio management, investment advisory and international client advisory for private and institutional clients.



SSI Wealth Management

Independent Swiss wealth manager. Holistic, partnership-based advice in the areas of wealth management, family office, real estate and arts.


Signatory of the Principals for Responsible Investing

Responsible investing is an investment approach that seeks to incorporate environmental, social and governance (ESG) factors into investment decisions to better manage risk and generate sustainable, long-term returns.

Swiss sustainable logo

Member of the Swiss Sustainable Finance (SSF) organisation

Swiss Sustainable Finance (SSF) strengthens Switzerland's position in the global sustainable finance market by informing, educating and fostering growth.