Investment fund / family office

Alternatively advising investment funds and entrepreneurs during our missions gives us a global picture of the legal issues to be addressed.

Issues

  • Investment structuring (minority or majority stakes, LBOs, venture capital…)
    • Negotiation of investment terms and selection of investment tools (shares, preferred shares, convertible bonds…)
    • Shareholders’ agreements
    • Seeking optimal solutions for liquidity
    • Risk-assessing recommendations
  • Investment vehicles
    • Selection and implementation of suitable vehicles in France and abroad (holdings, alternative investment funds, limited partnerships …)
    • Carried interest mechanisms
    • Follow up of AMF’s (French equivalent to the SEC) approval files
  • Pre-litigation and litigation (judicial disputes / arbitrations)
    • Management and resolution of litigations between investment funds and entrepreneurs

STANCE assists private equity funds and family offices in their investment strategies, in order to conceive and implement appropriate legal solutions for their portfolio constitution and day-to-day management.

Recent deals


2018 - Significant deals

2018 Wizville prise de participation Newfund conseil des investisseurs STANCE2018 Akoustic Arts prise de participation Newfund Renault conseil des investisseurs STANCE2018 Arenametrix prise de participation Newfund conseil des investisseurs STANCE2018 Optionizr prise de participation Newfund conseil des investisseurs STANCE2018 FairMoney prise de participation Newfund conseil des investisseurs STANCE2018 PouleHouse levee de fonds Business Angel conseil du business angel STANCE2018 World is a village levee de fonds Onepoint conseil de la cible STANCE2018 Bergoz Instrumentation cession Caribou et Chamois conseil du fondateur STANCE2018 Hotel Gambetta acquisition Ginto Hotel conseil de l acquereur STANCE

2017 - Significant deals

2017 Camping and co cession Rocket Internet conseil des fonds d’investissement vendeurs STANCE2017 Jimmy Fairly prise de participation Experienced Capital conseil de l acquereur STANCE2017 Alain Figaret prise de participation majoritaire Experienced Capital conseil de l acquereur STANCE2017 La Croissanterie LBO CM CIC Investissement conseil du fondateur STANCE2017 Accel Accelis cession etiam conseil des vendeurs STANCE2017 Arkadin acquisition NTT communications conseil de la cible STANCE2017 Caldera acquisition Dover conseil des vendeurs STANCE2017 Cette famille prise de participation Newfund Normandie Participations STANCE2017 Loginchinese prise de participation Newfund conseil de l investisseur STANCE2017 Luckey Homes prise de participation Newfund Nexity conseil des investisseurs STANCE2017 Novacyt Dual listing AIM London stock exchange Euronext growth conseil de la cible STANCE2017 Polyfont OBO personnes physiques conseil de l operation STANCE2017 Restauration francaise acquisition Newrest conseil de l acquereur STANCE2017 Robocath levee de fonds M Capital conseil de l investisseur STANCE2017 Vanguard acquisition Sterience conseil de l acquereur STANCE2017 Seifel acquis par Sicame Group Equistone conseil du vendeur STANCE

2016 - Significant deals

2016 Balibaris prise de participation Experienced Capital conseil de l investisseur STANCE2016 Groupe Casino JV avec les principaux franchises Franprix LEader Price conseil de l acquereur STANCE2016 Biofloral acquis par Pranarom Vendis Capital conseil de l acquereur STANCE2016 Apetito acquis par Newrest conseil de l acquereur STANCE2016 Saveurs restauration acquis par Vitalrest conseil de l acquereur STANCE2016 Maison Standards prise de participation Experienced Capital conseil de l acquereur STANCE2016 Primerdesign acquis par Novacyt conseil de l acquereur STANCE2016 Pom d Api LBO investisseurs prives conseil de l acquereur STANCE2016 Adveo acquis par Westcoast conseil de l acquereur STANCE2016 Coralys prise de participation par Newrest conseil de l acquereur STANCE2016 Soeur prise de participation Experienced Capital conseil de l acquereur STANCE2016-Eurofeu-LBO-personnes-physiques-Societe-Generale-conseil-de-l-acquereur-STANCE

Business cases

  • Alternative to representations and warranties
    In the context of a sale, one of the financial sponsors was not authorized to deliver representations and warranties for regulatory reasons. Representations and warranties were a requisite for our client, the purchaser. We decided to structure these representations and warranties as a conditional earn-out which would be due only in the absence of a claim, with a corresponding escrow organized with a notary.
  • Liquidity
    Our client, an investment fund which was negotiating a minority stake in a buy-out deal, asked for a final protection mechanism to secure its liquidity six years after the investment. We created a specific class of preferred shares to ensure that our client would have the authority to initiate the liquidity on its own.
  • Alternative investment fund
    We assisted the team of an approved portfolio management company in structuring an investment vehicle as «another alternative investment fund» chaired by the management company. Within this vehicle we created preferred shares designed to replicate a carried interest mechanism.
  • Creation of a family office
    We set up a family office for one of our clients. Designed as a partnership limited by shares (société en commandite par actions), this vehicle had the advantage of procuring good governance rules and structuring remuneration for the management team similar to a carried interest, in safe legal and tax conditions.