Seminar | France

Private Equity Across Europe: The French Market
Tuesday 26th November 2002
at 222 Gray's Inn Road, London WC1X 8XF

This is the first in a series of European Private Equity Breakfast Seminars. This seminar offers an overview of current market trends and legal and tax issues affecting private equity in France.

Speakers:
Dominique Peninon
Dominique is Managing Partner at Access Capital Partners, a European fund of funds manager based in Paris. Access Capital Partners manages and advises European Private Equity fund of funds totalling Euro 500 million dedicated to international institutional investors. Dominique has accumulated 20 years of private equity experience. He is a past president of AFIC (French Venture Capital Association) and a former Chairman of the EVCA Investor Relations Committee. He also co-chaired the Reporting Task Force and the Valuation Task Force at EVCA. He is currently Chairman of the Fund of Funds Committee at AFIC.

George Pinkham
George is Senior Partner of SJ Berwin's Paris Office and head of that office's funds formation group. He specialises in private equity transactions, including LBO and LMBO acquisitions by private equity funds, including acquisition structure, senior and subordinated debt and incentive agreements for management, and in the creation of funds within France and abroad. George is a member of the Tax and Legal Committee of EVCA, and the Legal Affairs Committee of AFIC, and regularly advises AFIC with respect to the drafting of legislation or regulations regarding French FCPRs.

Jonathan Blake
Jonathan is Head of the European Private Equity Team at SJ Berwin. He advises on management buy-outs, venture and development capital investments. He also advises fund managers across Europe and elsewhere on the structuring of funds and management companies and on their incentive arrangements. He is Chairman of the Tax and Legal Committee of EVCA, producing and editing several publications on venture capital related matters across Europe. Jonathan was named as one of the 50 most influential people in European Private Equity by Private Equity International in June 2002.


Background
Figures published in October show that the first half of 2002 saw a 20% rise in private equity transactions in France over the same period last year. It is not therefore surprising that interest in the French private equity market is high, with a number of investors opening offices or expanding their presence there. This seminar will seek to identify the key market trends and legal issues of the moment in France. Future seminars will cover the key market trends and legal and tax issues in Germany and Spain. Jonathan Blake, who has many years' experience of private equity across Europe, will chair the seminar, providing a brief introduction to the issues which are to be discussed. Jonathan will also chair the panel discussion.

We are delighted to be able to welcome Dominique Peninon of Access Capital Partners, who will share his perspectives on the state of the market and outlook for the coming year. George Pinkham, who heads our Paris office, will then discuss some topical legal and tax issues in France as they affect investments and fund structuring. He will also address developments in fund terms.

With opportunities to ask questions of our speakers both during the seminar and afterwards over coffee, we hope that you will find this event to be stimulating, topical and practical.

Programme
Chairman's introductory remarks
Jonathan Blake

The state of the market and current trends in France
Dominique Peninon

  • Investor appetite in France for pan-European funds
  • Buyout and venture capital opportunities – where are the deals?
  • The way forward and prospects for the future
Accessing the markets in France
George Pinkham
  • Structuring buyout and venture capital investments in France
  • Current investment terms and conditions and the differences in documentation between the UK and France
  • Regulatory, tax and cultural issues for French investors in pan-European funds
  • Recent changes in fund terms and conditions
Questions and Panel Discussion
Jonathan Blake

RSVP
For further information on this seminar, please contact Alison Brewer on 020 7533 2300 or by email alison.brewer@sjberwin.com

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