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PRIVATE EQUITY IN FRANCE: A THRIVING ASSET CLASS OF ITS OWN Maxence Bloch

Favourable factors. The right tool for funds: the FCPR. Tax consolidation regime. Relatively flexible thin capitalisation rules. hence high leverages. hence high prices. Overview of the French legal and tax environment for LBOs (1). Improved capital gain tax regime will foster corporate restructuration.

MikeCarlo
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PRIVATE EQUITY IN FRANCE: A THRIVING ASSET CLASS OF ITS OWN Maxence Bloch

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    1. PRIVATE EQUITY IN FRANCE: A THRIVING ASSET CLASS OF ITS OWN Maxence Bloch

    3. Improved capital gain tax regime will foster corporate restructuration Overview of the French legal and tax environment for LBOs (2)

    4. Overview of the French legal and tax environment for LBOs (3)

    5. Strict interpretation of financial assistance rules Overview of the French legal and tax environment for LBOs (4)

    6. Conclusion

    7. PRIVATE EQUITY IN FRANCE: A THRIVING ASSET CLASS OF ITS OWN Maxence Bloch

    8. FUNDRAISING IN FRANCE AN UPDATE Benjamin Aller So I am going to give you SJ Berwins perspective on the PE and Fundraising marketSo I am going to give you SJ Berwins perspective on the PE and Fundraising market

    9. Fundraising in France Record year in 2005 Strong start in 2006

    10. After 4 years of decline, fundraising reached an all-time record in 2005 at 12bn

    11. Banks, pension funds and insurance companies continue to play a big role

    12. LBO Funds account for 2/3rds of all amounts raised

    13. Selected Funds in 2005/2006 Alpha Private Equity (750M) APAX Partners (700M) Chequers Capital (600M) Euromezzanine (600M) Weinberg Capital (500M) LBO France (450M) CDC Ixis Innovation (300M) L Capital (300M) Argos Soditic (250M) Cobalt Capital (200M) 21 Centrale Partners (200M) 4D Global Energy (170M) MBO Capital (150M) Ventech (150M) Acland (100M)

    14. Choice of Fund Structures: Fonds commun de placement risques (FCPR) Limited Partnership SICAR Other

    15. QUESTIONS? So I am going to give you SJ Berwins perspective on the PE and Fundraising marketSo I am going to give you SJ Berwins perspective on the PE and Fundraising market

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