Firms To Watch: Private equity: Fund formation

A team headed by financial regulation and asset management specialist Damien Luqué joined the ranks at Bryan Cave Leighton Paisner from Lacourte Raquin Tatar in January 2025; Luqué will be supported by Martin Jarrige de la Sizeranne and Sacha Tartarin.
Practice head Mireille Mull Jochem oversees the team at De Gaulle Fleurance & Associés, which handles the structuring of private equity funds.
The practice at DLA Piper, which advises managers on fund formation, welcomed new practice co-head Diane Campion de Poligny from Clifford Chance in March 2023; she co-leads alongside tax specialist Raphaël Béra.
Andras Csonka is the key contact at Paul Hastings LLP, which routinely handles the structuring of venture capital investment funds, real estate investment vehicles and private debt funds.
November 2024 saw Proskauer Rose LLP welcome a fund formation team from Simmons & Simmons, notably Agnès Rossi and Marcela Moraru, who draw on substantial PE, infrastructure and debt fund formation experience.

Private equity: Fund formation in France

Clifford Chance

The ‘responsive and technically excellent’ team at Clifford Chance is well-versed in the structuring of private debt, infrastructure, real estate, venture capital, impact funds and secondary funds. The group is also equipped to handle secondary transactions and advise GPs on their continuation funds. Practice head Xavier Comaills, who is lauded for his ‘expert and broad knowledge of the sector’, has notable experience of fund structuring and secondary portfolio transactions. Also noted are the ‘technically excellent’ Marie Préat, who advises portfolio managers on the management of their business activity and secondary portfolio transactions; and Elodie Cinconze, who was promoted to the partnership in 2024.

Responsables de la pratique:

Xavier Comaills


Autres avocats clés:

Marie Préat; Elodie Cinconze; Véronique de Hemmer Gudme; Louis-Guillaume Cousin


Les références

‘The Clifford Chance team is responsive and handles issues professionally and efficiently. They know the French market well and are able to leverage the broader network of the company where necessary.’

‘The partners and senior team members are responsive and invest in understanding the business of their clients.’

‘Xavier Comaills, Véronique de Hemmer Gudme and Marie Préat are all are involved in their case and accessible at all times.’

Principaux clients

21 Invest France


Andera Partners


Archimed


Ardian


AXA


Blackstone


Bpifrance Investissement


Cathay Capital Private Equity


Cathay Innovation


Chenavari


Consolidation et Développement Gestion


CNP Assurances


Eurazeo Global Investor


Eurazeo


European Investment Fund


Flexstone Partners


Infranity


Kartesia Management


Keensight Capital


Kurma Partners


Lauxera Capital Partners


MBO+


Montefiore Investment


Natixis


Oddo Asset Management


Omnes Capital


Parquest Capital


Peugeot Invest


Qualium Investissement


Raise


Sagard


Siparex


Sofinnova Partners


Supernova Invest


Varsity Capital


Vauban Infrastructure Partners


Weinberg Capital Partners


Principaux dossiers


  • Advised Kartesia on the closing of its second-generation senior debt strategy, Kartesia Senior Opportunities, at €1.8bn.
  • Advised Vauban Infrastructure Partners on the structuring and fundraising of a new generation infrastructure equity fund, Core Infrastructure Fund IV.
  • Advised Montefiore Investment on the structuring and fundraising of its new flagship fund, Montefiore Investment VI, together with a second investment fund dedicated to smaller investments, Montefiore Expansion.

Goodwin

'Expertise, experience and professionalism' are the calling cards of the team at Goodwin, which is lauded by another client as 'among the best in the business'. The group deals with the gamut of funds mandates and regularly advises on the formation of private equity, infrastructure, tech, venture capital, and debt funds. Leadership is shared between 'leading fund formation partner' Arnaud David and 'problem solver' Sarah Michel, who is noted for her 'strong experience in the sector' and has experience in LP and GP-led transactions. A recent mandate of note saw the team advise BEX Capital on the formation of BEX Capital V for a target amount of $1bn.

Responsables de la pratique:

Arnaud David; Sarah Michel


Autres avocats clés:

Marie-Laure Bruneel; Galien Devillers


Les références

‘Specialist in fund structuring. Strong technical skills. Market leader.’

‘Sarah Michel – listening to the customer. Problem solver. Strong experience in the sector.’

‘Well structured team. Good responsiveness and advice. Very good work with the tax team.’

‘Marie-Laure Bruneel and Galien Devillers – expertise, experience, professionalism.’

‘Good team availability and quality of work (feedback in case of questions, review of documents, etc.)’

‘Goodwin’s fund formation team is among the best in the business – well organized and up to date with market trends. Sarah Michel – excellent.’

‘Arnaud David remains one of the leading partners in the Parisian fund formation market: available, efficient and organized.’

Principaux clients

Andera Partners


Antin Infrastructure Partners


Bex Capital


Cerea Partners


Chequers Capital


CIC Private Debt


Committed Advisors


EMZ Partners


Initiative & Finance


Latour Capital


MBO+


Mérieux Equity Partners


Naxicap Partners


Quadrille Capital


Quantonation Ventures


Rothschild & Co / Five Arrows


Slate Venture Capital


Tikehau Capital


Willkie Farr & Gallagher LLP

Willkie Farr & Gallagher LLP's group is well-placed to advise on the formation of small, mid and large-cap funds, regulatory matters and secondary transactions. Practice co-head Nathalie Duguay has noted experience in fund formation and operations that covers buyout funds, mezzanine funds, distressed funds, debt funds, venture funds, and real estate funds. Co-leading alongside her, Tiana Rambatomanga is well-versed in the creation of and fundraising for French, Luxembourgish and pan-European private equity and credit investment funds. A recent mandate of note saw the team advise Five Arrows managers on the creation of their first impact fund targeting startups committed to the ecological transition.

Responsables de la pratique:

Nathalie Duguay; Tiana Rambatomanga


Les références

‘Tiana Rambatomanga stands out for her team spirit and forward thinking.’

Principaux clients

21 Invest France


Abénex Capital


Access Capital Partners


Adagia Partners


Alpha Private Equity


Altaroc


Alyse-Guyane


Ambienta


Astorg Partners


BJ Invest


BlackFin Capital Partners


BNPP Agility Capital


Bpifrance


CIC Private Debt


EDF Invest


Ekkio Capital


Elevation Capital Partners


EM 8 Private Equity


Epopée Gestion


Five Arrows Managers


Hivest Capital Partners


Idico


Indigo Capital


Ledger


L’Occitane


Lov Group


ODDO BHF


PAI Partners


Peqan


Peugeot Invest (FPP)


Power Corporation of Canada


Sagard Private Equity


Seven2 (former Apax Partners)


Sista Fund


SouthBridge Investments


Tikehau


UTI International Limited


Principaux dossiers


  • Advised PAI Partners on the structuring and fundraising of their flagship fund PAI Partners VIII.
  • Advised seven2 on the structuring and fund-raising of Apax Development Fund II.
  • Advised Bpifrance on the structuring of their Bpifrance Entreprises Avenir 1 (BEA 1) fund.

A&O Shearman

A&O Shearman's practice group is well-placed to advise management companies in relation to the fundraisings for and launches of their investment funds. The team's expertise also encompasses a range of related regulatory and tax aspects. Antoine Sarailler (asset management) and Brice Henry (regulatory and investment fund matters) share leadership. Additional key contacts include Mathieu Vignon and Guillaume Valois, both of whom focus on the tax structuring of domestic and cross border M&A, private equity and real estate transactions; and fund formation specialist Benjamin Lacourt.

Responsables de la pratique:

Antoine Sarailler; Brice Henry


Autres avocats clés:

Mathieu Vignon; Guillaume Valois; Benjamin Lacourt


Principaux clients

AG2R – La Mondiale


Alderan


Amiral Gestion


Amundi Asset Management / Private Equity Funds


Aqua Asset Management


Audacia


BNP Paribas Asset Management


BOLD – Business Opportunities for L’Oréal Development


CIC Private Debt


EDF Invest


Equitis Gestion – IQEQ France


ERAFP


European Institutions (European Investment Fund & European Investment Bank)


Extendam


FAMAE


ISALT


LBO France


Naxicap Partners


NextStage AM


OFI REIM


Proparco


SCOR Investment Partners


Siparex


Swen Capital Partners


Tikehau Investment Managers


Altarea Investment Managers


Cheyne Capital Management


Atalante / Capza


Adaxtra Capital


Club Funding Asset Management


Flexstone Partners


Victoires Haussmann


Lazard Frères Gestion


International Finance Corporation (for funds work)


Eiffel Investment Group


Rivage Investment


Turenne Capital


Zencap AM


Principaux dossiers


  • Advised BNP Paribas Asset Management Europe on the launch of a private equity fund dedicated to infrastructure investments.
  • Assisted Zencap within the framework of the structuring of ZencapDirect Lending IV, a private debt fund.
  • Set-up of a partnership between Tikehau and Altarea in relation to the set-up of a real estate debt-related fund platform.

Dechert LLP

Dechert LLP's team is equipped to handle corporate and regulatory matters related to the entire life cycle of investment funds and asset management, as well as secondary transactions. The group is regularly instructed by sponsors, private equity funds and institutional investors alike. Leadership is shared between Sabina Comis and Cyril Fiat. Comis specialises in advising private equity firms on domestic and international tax structuring mandates, while Fiat, for his part, advises on regulatory issues and assists investors with alternative asset investments. Antoine Pian is an additional key contact.

Responsables de la pratique:

Sabina Comis; Cyril Fiat


Autres avocats clés:

Antoine Pian; Etienne Bimbeau


Les références

‘Helpful, expert and friendly team – Sabina Comis, Cyril Fiat.’

‘Among the most competent in France, while being very easy and friendly – Sabina Comis, Etienne Bimbeau, Cyril Fiat.’

‘Extremely competent, available, commercial team. Caring and attentive. Sabina Comis and Antoine Pian – attentive to customer relations and the construction of a long-term relationship, competent and didactic in their explanations, efficient.’

Principaux clients

Blisce


Cathay Capital


Essling Capital


Artemis – Financière Pinault


Rothschild & Co Asset Management / Rothschild Martin Maurel


Capital Croissance


KKR


Truffle Capital


Principaux dossiers


  • Advised Capital Croissance on the creation of and fundraising for the third generation of CAIRN Capital funds.
  • Advised Capital Croissance on the creation and fundraising of Edelweiss Transition & Impact I, a French private equity fund setup as a fonds professionnel de capital investissement.
  • Advised a management company on the structuring of a French private equity fund aiming at investing in non-listed companies conducting a B2B activity supporting the fight against climate change.

Gide Loyrette Nouel A.A.R.P.I.

The team at Gide Loyrette Nouel A.A.R.P.I. is well-placed to assist with the structuring of private equity funds, real estate funds, infrastructure funds, debt funds and open-ended funds. The group’s expertise encompasses the design, setup, management and fundraising stages, as well as subsequent sale and reorganisation transactions. Practice head Stéphane Puel specialises in advising French and global financial institutions on the structuring and establishment of open and closed-end investment funds. Additional key contacts for fund formation include Guillaume Goffin and Benjamin DelaunayNicolas Capelli left the firm in January 2024.

Responsables de la pratique:

Stéphane Puel


Autres avocats clés:

Guillaume Goffin; Benjamin Delaunay; Antoine Nicolaï; Clothilde Beau


Les références

‘An extremely competent team with a perfect command of its subject – Guillaume Goffin and Antoine Nicolaï.’

‘Very trustworthy team, having placed great attention to serving our company from our launch. Supported us throughout our growth. Exceptional quality of judgement, support, knowledge of public authorities and the regulator.’

‘Stephane Puel: exceptional height of view, knowledge of public authorities and the regulator, precision in the responses, surety of judgement. Clothilde Beau: exceptional, availability, responsiveness, precision.’

‘The Gide team stands out for its diversity, technical excellence and incredible experience, placing it at the forefront of French practice in the regulatory and fund structuring field. Its international outlook and appreciation of local rules make it an ideal partner for structuring transnational projects.’

‘Stéphane Puel is excellent, available and always attentive. Clothilde Beau is also very strong.’

‘The availability of the team and the responsiveness of the team. The mode of collaboration is highly appreciated.’

‘Stéphane Puel, Camille Roux and Clothilde Beau understand and master perfectly the regulatory and operational challenges that funds management companies face. Extremely responsive in managing requests. As a client, we feel supported by these people.’

Principaux clients

Quaëro Capital


Apollo Investment


ISALT


Morgan Stanley Investment Management


Fidelity Investments


EDF


Mirova


Société Générale


RGreen


Andera Partners


Groupama Asset Management


Nordea Asset Management


Swen Capital Partners


Serena Capital


Vivalto Partner


Caption


Equitis Gestion


Bouygues Group SA


Promepar Asset Management


Amundi AM


Goldman Sachs Asset Management


Meridiam


OCCTE


Siparex


Omnes Capital


BNP Paribas AM


ODDO BHF Asset Management


Eiffel Investment Group


Neuberger Bergman


Blackrock


Blackstone


Tikehau Investment Management


Mimco Asset Management


Trocadero Capital


Mata Capital


Seedstars Africa Ventures Investment Management (SAVIM)


Ampère Gestion


LBP AM


Jones Day

The practice group at Jones Day regularly supports GPs with the legal, tax and regulatory aspects of investment fund formation and fundraising covering venture, growth, buyout, infrastructure, mezzanine, debt and real estate funds. In addition, the team advises LPs and routinely handles secondary transactions. Practice head Florence Moulin specialises in fund formation and the establishment of regulated portfolio management companies. Marine L’Hostis, who is frequently instructed by management companies and investment service providers, is an additional name to note.

Responsables de la pratique:

Florence Moulin


Autres avocats clés:

Marine L’Hostis


Les références

‘Remarkable technicity and expertise for fund structuring in a very complex legal and regulatory context, thanks to a great professional team and its professional capabilities and qualities. Deep sense of analysis, rapid understanding.’

‘Florence Moulin has an expert and broad knowledge of the sector.’

Principaux clients

Altaroc Partners


Ardian


Argos Wityu


Axeleo Capital


Brownfields Gestion


Capital Croissance


Frst Capital


Ixo Private Equity


Origine Partners


Raise


Tikehau Investment Management


Principaux dossiers


  • Advised Ardian on the formation and fundraising of Ardian Growth III, focusing in the areas of digital industries, notably in IT software and IT services, Internet and new digital media.
  • Advised Argos Wityu on the creation of the fund ‘Argos Climate Action SLP’, a buyout fund dedicated to decarbonizing European SMEs.
  • Advised Frst Capital on the formation and fundraising of its ‘Frst 3’ fund, a French professional private equity fund with a target size of €100m.

Chammas & Marcheteau

The group at Chammas & Marcheteau is equipped to handle the formation of a range of exchange-traded funds and alternative investment funds, in addition to related regulatory matters. Leadership of the practice is shared between co-founder Lola Chammas, who majors on private equity fund formation, secondary transactions, and corporate and M&A work; and Christophe Sevennec, who specialises in advising both public and private clients on fund formation and regulatory mandates.

Responsables de la pratique:

Lola Chammas; Christophe Sevennec


Principaux clients

Shift4Good SAS


Epopée Gestion


Andera Partners


ISAI Gestion


Bpifrance


Adbio


FnB Private Equity SAS


TeamPact Ventures


Elephant & Ventures


Principaux dossiers


  • Advised Andera Partners on the constitution and the different closings of its fund Andera Smart Infra 1, an infrastructure fund dedicated to energy transition.
  • Advised Shift4good on the formation of its second private equity growth fund, Shift4Good Fund 1 SLP, and for its second closing.
  • Advised Bpifrance Investissements on the formation of its private equity fund ‘Fonds de Décarbonation de la Filière Maritime’.

CMS Francis Lefebvre

The team at CMS Francis Lefebvre is well-placed to assist investment funds, asset management companies and institutional investors with each stage of fund formation. Jérôme Sutour steers the practice and specialises in assisting managers with the establishment and operation of alternative and private equity funds; he also directs the firm's wider financial services group. Léa Hadjadj is noted for her banking and investment-related regulatory compliance expertise.

Responsables de la pratique:

Jérôme Sutour


Autres avocats clés:

Léa Hadjadj


Les références

‘Jérôme Sutour – very good knowledge of AMF regulations and services.’

Principaux clients

SAFER


Mirova


Columbus


Eurazeo Invesment Manager


Stanhope Capital SAS


Delubac AM


Quaero Capital


Technology & Strategy / Ardian


Idia Capital Investment


Kirkland & Ellis LLP

The practice group at Kirkland & Ellis LLP, which is praised for its ‘exceptional responsiveness’, is regularly instructed by major private equity houses seeking assistance with the formation of private equity funds. The team is directed by Raphaël Bloch, who is noted for his ‘great professionalism’ and is well-versed in advising European capital sponsors on the establishment and operation of funds, as well as on GP-led fund restructurings. A recent mandate of note saw the team advise Antin Infrastructure Partners on the formation of Antin Infrastructure Fund V.

Responsables de la pratique:

Raphaël Bloch


Les références

‘We are delighted to be working with Kirkland. Their listening skills, exceptional responsiveness and perfect knowledge of the market, particularly thanks to their network of international offices, are remarkable. We were faced with a very tight deadline for a complex transaction involving many stakeholders, and they were able to orchestrate the operation brilliantly, allowing it to be concluded on time and without any hitches.’

‘Raphael Bloch demonstrates great professionalism, is perfectly integrated with the international offices, and offers valuable advice during negotiations. He has in-depth knowledge of both investors and regulators.’

Principaux clients

Antin Infrastructure Partners


Eurazeo


IK Partners


PAI Partners


Equistone Partners


Principaux dossiers


  • Kirkland & Ellis LLP is advising Antin Infrastructure Partners on the ongoing formation of Antin Infrastructure Fund V. With a European focus, Fund V will target energy, renewable energy, transportation, telecom and environmental services.
  • Advised Eurazeo on the ongoing formation of Eurazeo Capital Fund V. With a general continental focus, Fund V will take a diversified industry approach, focusing on buyouts.
  • Advised PAI Partners, a private equity firm headquartered in France, in a strategic minority investment in its business by Dyal Capital, a division of Blue Owl Capital Inc.

Kramer Levin Naftalis & Frankel LLP

The practice group at Kramer Levin Naftalis & Frankel LLP is equipped to assist domestic and international asset managers with fund formation, tax structuring, secondary transactions and regulatory considerations. The department is directed by January 2024 arrival Nicolas Capelli, who joined from Gide Loyrette Nouel A.A.R.P.I.. Capelli, draws on substantial fund formation experience in London, Paris and Luxembourg, while Tristan Bonneau is an additional key contact.

Responsables de la pratique:

Nicolas Capelli


Autres avocats clés:

Tristan Bonneau


Principaux clients

Eiffel Investment Group


Sienna Am France


Rive Neuve


Chenavari Asset Management


Investissements Strategiques En Actions Long Terme (Isalt)


Vivalto Partners


Bouygues Group


Trail Solutions Patrimoine


Label Capital – Twenty First Capital


Althos Patrimoine


Scale Up


Isatis Capital


Principaux dossiers


  • Advised AIFM Eiffel Investment Group on the tax and legal structuring, formation and fundraising of a €1bn hard cap third generation private debt fund dedicated to solar, energy transition and energy efficiency investments.
  • Advised Althos Patrimoine on structuring an evergreen semi-liquid fund of funds investing in private equity investment funds.
  • Advised Chenavari AM, the French AIFM of Chenavari Group, on the tax and legal structuring, formation and fundraising of two pan-European real estate debt funds, each with a €300m hard cap.

Linklaters

The team at Linklaters specialises in the structuring and formation of private equity vehicles, funds of funds, ETFs and debt funds, as well as related regulatory, corporate, and tax mandates. Leadership of the practice is shared between tax and investment specialists Edouard Chapellier and Cyril Boussion; and Ngoc-Hong Ma, who has particular expertise in advising investment funds, private equity houses and financial institutions on the regulatory environment surrounding fund management.

Responsables de la pratique:

Edouard Chapellier; Cyril Boussion; Ngoc-Hong Ma


Autres avocats clés:

Leïla Megdoud; Jonathan Abensour


Les références

‘The team is very professional and has a perfect knowledge of investment fund market practices. Edouard Chapellier, Leïla Megdoud and Jonathan Abensour are recommended.’

‘The team led by Edouard Chapellier who works with an exceptional level of quality, a rare mastery of all aspects of negotiations and operational issues. The team is extremely creative and offers new solutions to problems of all kinds.’

‘Edouard Chapellier is extremely competent and innovative and able to find solutions to the most complicated situations.’

Principaux clients

Ardian


Crédit Mutuel Capital


Partech Partners


Otium Capital


Axa Venture Partners


Principaux dossiers


  • Advised Crédit Mutuel on the setting up of its Fonds Révolution Environnementale et Solidaire SLP.
  • Advised Partech Partners on the final close of Partech Africa II at €245m.

McDermott Will & Emery AARPI

The ‘innovative and rigorous’ team at McDermott Will & Emery AARPI advises management companies and investors alike on the structuring of private equity funds. The group is also well-versed in secondary transactions, regulatory work and governance matters. Practice head Guillaume Panuel has substantial primary and secondary transaction experience and garners client praise as standing out ‘not only for his technical skill but also his soft skills and knowledge of the field’.

Responsables de la pratique:

Guillaume Panuel


Autres avocats clés:

Romain Souchon; Agathe Marcelin


Les références

‘Guillaume Panuel – innovative and rigorous. His team is particularly responsive. They know the market perfectly. They know the players well, who also recommend them in return.’

‘Guillaume Panuel is without a doubt the lawyer and partner who stands out for his technical skill but also for his soft skills and knowledge of the field.’

‘Guillaume Panuel: we appreciate his technical mastery of both the legal and operational aspects of secondary transactions in private equity. Very responsive, strong in proposals and solutions. It is always a pleasure to work with Guillaume and his team.’

‘Efficiency, pragmatism, responsiveness, interpersonal skills. Well-structured team, diligent in processing requests.’

‘The team stands out from its peers for its intimate knowledge of private equity issues. Beyond the purely legal aspects, the team participates in the joint reflection on commercial aspects when we engage them on transactions (both buying and selling). It also stands out for its availability and frankness.’

‘The people who stand out in the team are Guillaume Panuel, Romain Souchon and Agathe Marcelin. In addition to his great technical mastery of private equity subjects, Guillaume is very business-oriented. Romain and Agathe stand out for their professionalism, their timely execution and their mastery of the files and their follow-up. They are straightforward and efficient, which is very appreciated.’

‘High technical quality, always available – people we trust completely. Proximity, flexibility.’

Stephenson Harwood

Stephenson Harwood's capabilities take in the structuring of private equity funds, infrastructure funds, mezzanine debt funds, venture funds and private debt funds, for which it is routinely instructed by domestic and international fund managers alike. Julien Vandenbussche steers the practice and specialises in fund structuring, corporate law, financial law and regulatory law. Also noted is Ngowari Adikibi, who is particularly active in the creation of international funds investing predominantly in Europe and Africa.

Responsables de la pratique:

Julien Vandenbussche


Autres avocats clés:

Ngowari Adikibi


Les références

‘Very professional team: fast, precise, knowledge of market practices and the expectations of institutional investors allowing the necessary arbitrations to be made, ability to propose business solutions in the event of a blockage.’

‘The Stephenson Harwood team is distinguished by its first-rate expertise in the formation of private equity funds. It is distinguished by its perfect mastery of complex regulations and fund structures, with an ability to personalize its advice for each client.’

‘The team offers practical and business friendly solutions whilst maintaining the regulatory and legal standards. They offer a prompt delivery which respect deadlines. They focus on client needs.’

‘Ngowari Adikibi is a remarkable lawyer with excellent legal skills and good knowledge of market practice. Ngowari Adikibi is exceptional in many ways, setting her apart from competitors through her unique blend of skills, dedication, and innovative thinking. What truly makes her stand out is her unwavering commitment to excellence and her ability to consistently deliver outstanding results.’

‘Responsive team that can easily be mobilized on complex subjects.’

‘Julien Vandenbussche has a good knowledge of the ecosystem and the internal constraints of a management company.’

‘Julien Vandenbussche actively participates in local committees; he is therefore very aware of regulatory developments and, above all, of the regulator’s approach to operational issues.’

Principaux clients

Swen Capital Partners


Alter Equity


Eurazeo Investment Management


Bpifrance Investissement


ODDO Private Equity


Access Capital Partners


SPE Capital


Mirova


AXA France


Founders Future


Principaux dossiers


  • Advised Bpifrance on the creation and launch of the French-Kuwaiti bilateral co-investment fund FKF, equally subscribed by Bpifrance and Kuwait Investment Authority (KIA).
  • Advised Swen Capital Partners in connection with the establishment of Swen Flex Mezz 3, a private equity mezzanine fund seeking €150m of commitments.
  • Advised Alter Equity in connection with the establishment and fundraising of Alter Equity 3, a private equity impact fund seeking €200m of commitments.

Couderc Dinh & Associés

The practice group at Couderc Dinh & Associés specialises in the creation of investment vehicle dedicated to private equity, private debt and real estate. Entrepreneurs, family businesses, multinational companies and investment funds regularly feature on the team's client roster. The group, which is lauded by one client for its 'cutting-edge expertise and innovative approach', is directed by Frédéric Bucher. Bucher is well-versed in business combinations, fundraisings, and reorganizations.

Responsables de la pratique:

Frédéric Bucher


Les références

‘This law firm stands out for its cutting-edge expertise and innovative approach.’

Principaux clients

Emaré Capital


UI Investissement


IRDI Capital Investissement


Altur Investissement


OVNI Capital


Ocseed


Principaux dossiers


  • Assisted Emaré Capital in the launch of a first-time Real Estate fund ‘Armovie’.
  • Assisted UI Investissement with the creation of a fund dedicated to facilitate access to equity and quasi-equity financing for unlisted SMEs located in Bourgogne-Franche-Comté.
  • Advised a French AMF-regulated asset management company on the creation, marketing and fundraising of its new fund, dedicated to the education sector.

Dentons

Praised for its ‘responsiveness, availability’ and ‘collaboration’, the team at Dentons handles the creation, financing and operation of a wide variety of growth, venture capital, debt, infrastructure, and mezzanine funds. An additional core area of expertise for the group is advising on GP-led secondary transactions. The practice is directed by Olivier Genevois, who specialises in private equity and M&A transactions.

Responsables de la pratique:

Olivier Genevois


Les références

‘Responsiveness, availability, collaboration’.

‘Olivier Genevois stands out for his knowledge and his style of collaboration.’

Principaux clients

RB Capital Partners (B & Capital)


RB Capital France 2 SLP


Flexstone Partners


ITM Entrprises


Trammell Crow Company


Calibrium


Eolus / Audemars Piguet


Principaux dossiers


  • Advised RB Capital Partners on the structuring, formation and fundraising of its successor fund RB Capital France 2, targeting a size of €300m.
  • Advised RB Capital France 2 SLP on the setup of an equity bridge financing with CE Hauts-de-France.
  • Advised Flexstone on its co-investment, via Vesuvio Co-Invest SCSp, a co-investment fund created to pool co-investors, alongside PAI Mid-Market Fund in Vesuvio, Nestlé’s spin-off of its Pizza European business.

Joffe & Associés

The team at Joffe & Associés is well-placed to handle the structuring of venture capital funds, debt funds, and real estate and infrastructure funds. Practice head Olivier Dumas has significant experience of the tax aspects of the setup of funds. A recent standout mandate saw the group advise Elaia on the structuring of a new venture capital fund dedicated to pre-seed and seed investments in startups created by public research institutions.

Responsables de la pratique:

Olivier Dumas


Principaux clients

Elaia Partners


Impact Partners


Isatis Capital


Good Only Ventures


50partners Gestion


Pergam


Altis Capital


Antler Management Europe


123 Investment Managers


Racine

The practice group at Racine assists sponsors and management companies with the structuring of private equity funds, as well as secondary transactions and regulatory mandates. Rima Maitrehenry, who is lauded for her ‘excellent technical mastery’ and ‘good knowledge of market practices’, steers the practice and specialises in fund formation, the sale and acquisition of fund portfolios and secondary transactions. Linda Bessa joined the firm from AYACHE in September 2023.

Responsables de la pratique:

Rima Maitrehenry


Autres avocats clés:

Fabrice Rymarz


Les références

‘A responsive, proactive team on the files entrusted to it. In terms of funds, the support is effective and of very high quality.’

‘Rima Maitrehenry is a top-level lawyer in investment funds. Her advice is always precise, and imbued with professional experience that integrates valuable feedback and a good knowledge of market practices.’

‘Rima Maitrehenry – flexible, good knowledge of market practices, knowledge of cutting-edge and innovative mechanisms.’

‘The team has a very great knowledge of the subject and especially of the sector. It is available and does not hesitate to introduce us to specialists on specific subjects.’

‘Rima Maitrehenri and Fabrice Rymarz – very responsive team, very available with excellent technical mastery.’

‘Rima Maitrehenry is a highly reliable consultant with remarkable expertise in her sector. The diversity of the operations she works on makes her expertise even richer.’

‘Responsiveness, professionalism, possibility of being advised on different aspects (tax, legal, etc.)’

‘Rima Maitrehenry: very good knowledge of the different types of private equity funds; extensive expertise in structuring various funds, French and international approach.’

Principaux clients

Revaia


ARA Europe


Five Arrows Managers


Omnes Capital


IVO Capital


Smalt Capital


Go Capital


Amethis Advisory


2050.do


Principaux dossiers


  • Advised Partech Partners on structuring its eighth-generation venture fund, Partech Ventures, which is dedicated to investing in tech, digital, and innovative companies.
  • Assisted Financière Arbevel with the structuring of Arbevel Dette Privée II.

Sullivan & Cromwell LLP

The team at Sullivan & Cromwell LLP is well-placed to advise asset managers and private equity, infrastructure, real estate and debt funds in connection with investments, fund formation and regulatory mandates. Nicolas De Boynes steers the practice and specialises in fund formation and the tax structuring of investment funds. Sarah Barrau-Ceville handles the structuring of a range of funds and the establishment of regulated portfolio management companies.

Responsables de la pratique:

Nicolas de Boynes


Autres avocats clés:

Sarah Barrau-Ceville


Les références

‘The best team on the market this year for their mastery of the subjects, their availability and their professionalism. Nicolas de Boyne and Sarah Barrau-Ceville are strong on regulatory aspects.’

‘The team has an excellent knowledge of our company, which makes their advice always tailored, with an insight both from an insurance standpoint and an asset management standpoint.’

‘Nicolas de Boynes is one of our trusted advisors. Nicolas’ mindset is to act as a facilitator to close smoothly a transaction on high quality terms. He is supported by Sarah Barrau-Seville who has an excellent knowledge of the fund formation legal landscape and on the market industry trends.’

Principaux dossiers