Financial adviser to La Française on the merger of its fund of hedge funds activities with Tages Capital.
Financial adviser to La Française on the merger of its fund of hedge funds activities with Tages Capital.
TRANSACTION SUMMARY
La Française will contribute its fund of hedge funds business to Tages Capital in return for a 40% stake in the combined entity, creating a fund of hedge funds with $3bn in assets under management. Tages currently has offices in London and Milan, with La Française based in Paris.
LA FRANCAISE
La Française, which is one of Europe’s largest fund managers with assets under management of over €40bn including equity funds and real estate, also acquired a stake in Forum Partners, the real-estate asset manager, late last year as part of a strategy of building its international presence. Its fund of hedge funds unit, which is currently the second largest in France, will contribute approximately $1bn in assets under management to the combined firm.
TAGES CAPITAL
Tages Capital, founded in 2011, is an international investment and advisory group established by a set of managing partners including Panfilo Tarantelli, a former Head of Investment Banking at Citibank and later Chairman of the Global Banking Division for Europe. It currently manages approximately $2bn. Tages also operates a corporate finance advisory business and distressed debt arm which will remain separate after the deal is completed.
ROLE
SHP acted as financial advisor to La Française.