Founded in Paris in 1920, Gide is a leading international law firm with 12 offices spread throughout the world.
Gide is physically present in six regions of the world, with 11 offices, enabling it to act on cases globally.
21 October 2020
Deals | France | Asset Management & Investment Funds
Gide, counsel to the investors of the Sustainable recovery investment programme for France on structuring a private equity fund dedicated to the financing of French tourism companies weakened by the Covid-19 crisis
French insurers and the Caisse des Dépôts et Consignations have implemented a sustainable recovery investment programme for France (the Programme d'Investissement de Relance Durable France), amounting to EUR 2.2 billion, to support the French economy impacted by the health crisis. This three-prong investment programme shall mainly benefit mid-caps and SMEs active in the tourism and healthcare sectors, and will be implemented with the formation of several sector-based investment funds.
Within this context, Gide has advised the programme's investors to create a private equity fund that will finance, via equity and quasi-equity, French mid-caps and SMEs active in the tourism industry The fund will be managed by Montefiore Investment, and raised approximately EUR 170 million on its first closing.
Gide's team comprised partner Stéphane Puel, senior associate Clothilde Beau and associate Myriam Danicourt, who work with the investors of the Sustainable recovery investment programme with respect to the formation of several investment funds of this programme.
Montefiore Investment was advised by Clifford Chance.
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Gide has already advised on structuring a financing package dedicated to companies active in the French tourism sector (press release).
