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Quilvest is the first to benefit from the new Luxembourg Reserved Alternative Investment Fund (RAIF)

Quilvest is the first to benefit from the new Luxembourg Reserved Alternative Investment Fund (RAIF)


On the same day the new Luxembourg law on reserved alternative investment funds (RAIF) came into force (28/07/2016), Elvinger Hoss Prussen assisted Quilvest Private Equity (the Private Equity arm of the Quilvest Group) in setting up QS RE Investment Programs SCA SICAV-RAIF (“QS RE IP”) and QS PE Fund SCA SICAV-RAIF (“QS PE Fund”) as reserved alternative investment funds (“RAIFs”) pursuant to this new regime.

The two RAIFs will be managed by Quilvest Asset Management S.A. (“QAM”) acting as authorised alternative investment fund manager and RBC Investor & Treasury Services will act as Depositary.

According to Bernard Charpentier from Quilvest, the company has decided to set its new vehicles as RAIFs as it “ideally combines flexibility, short time-to-market, protection of investors by the AIFMD framework and the possibility for marketing with the EU passport”.

Read full press release by EHP.



Luxembourg Roadshow à Paris (19/09/2016)

Luxembourg Roadshow à Paris

Capital-Investissement au Luxembourg: une plateforme dynamique et attrayante

Le marché luxembourgeois du capital-investissement est estimé à quelques 300 milliards d’euros d’actifs sous gestion.

Depuis 2015, la place Luxembourgeoise connaît de nombreux changements qui la rendent encore plus compétitive et attrayante : le nouveau fonds d’investissement alternatif réservé (FIAR) a vu le jour, la Loi sur les Sociétés Commerciales vient de subir une refonte totale et l’adoption du régime de la société en commandite spéciale (« Limited Partnership ») connaît un succès foudroyant.

Le 19 septembre prochain, les professionnels du capital-investissement du Luxembourg seront de retour à Paris pour expliquer tous ces changements ainsi que pour faire connaissance des acteurs travaillant avec la place luxembourgeoise.

Nous vous invitons dès à présent à vous inscrire sur le lien suivant.

Photo Gallery



Speakers


 

Schedule


  • 14:00

    Inscriptions & apéritif

  • 14:30

    Accueil
    Paul Junck, Managing Director, LPEA
    S. E. M. Paul Dühr, Ambassadeur du Luxembourg en France et à Monaco

  • 14:35

    Introduction & situation du marché PE au Luxembourg
    Alexandre Prost-Gargoz, Partner, Deloitte Luxembourg

  • 14:50

    La boîte à outils luxembourgeoise : une solution intelligente pour ma distribution

    AIFMD & Distribution: Situation sur le marché au Luxembourg. Qui utilise un passeport et qui reste sur les stratégies de placement privé : avantages et inconvénients de chaque stratégie de distribution.

          • Rafael Aguilera, Directeur Associé, Investment Fund Distribution and Reporting services, EY Luxembourg

    Sociétés de gestions AIFM pour parties tierces : la solution “plug and play”. Situation du marché, comment les acteurs utilisent-ils cette solution ?

          • Alexandre Dumont, Lemanik

    Fonds d’investissement alternatif réservé (FIAR) : implications pour l’industrie PE. Du produit à la réglementation.

          • Jérôme Wigny, Elvinger Hoss Prussen

    Société en commandite spéciale : comparaison des différents types de LPs (France, Ecosse, UK et Luxembourg). Similitudes et différences d’un point de vue théorique et pratique.

          • Victorien Hemery, Counsel, PE/RE, Arendt & Medernach
  • 15:40

    Discussion informelle

      • Bernard Charpentier, General Counsel, Quilvest & Partners Luxembourg,
      • Alexandre Rhea, Managing Partner, New Angle Capital
  • 16:00

    Cocktail

  • 17:00

    Closing


Sponsors


 

Rendez-vous au Cercle de l’Union Interalliée

33 Rue du Faubourg Saint-Honoré
Paris 75008

(Le port d’une tenue appropriée est exigée)






More about Luxembourg


Luxembourg is well known for its solid financial centre which success is founded on the social and political stability of the Grand Duchy and on a modern legal and regulatory framework that is continuously updated.

Over the years, specific regulatory frameworks have been created for alternative investment funds and venture capital investment funds which, combined with Luxembourg’s openness to the world, has attracted many private equity firms and specialist service providers from all over the world.

LPEA, as the trade association for Private Equity and Venture Capital Players in Luxembourg, is hosting this roadshow to present the country and the conditions which have already attracted some of the major international PE firms to set office in Luxembourg. We expect you to learn first-hand testimonials from some of our players as well as from the service providers who, together with the investors, build a strong and reliable ecosystem.

Yo! Sushi: Quilvest exits the conveyor belt

Yo! Sushi: Quilvest exits the conveyor belt

Capital V #7 | 1H2016


Under Quilvest’s ownership and stewardship, from 2008 to 2015, YO! Sushi almost tripled in size and underwent transformational growth.



Japanese food, especially sushi, entered the European market long ago with dedicated restaurants now available in nearly every mid-sized town. From downtown sushi corners to high-street and Michelin-starred hotels, one can find a wide variety of westernised sushi offerings well adapted to European tastes.

One of the first European commercial successes in this field is clearly YO! Sushi, a UK-based Japanese fast-casual restaurant chain founded in London in 1997 by entrepreneur Simon Woodroffe, one of the original stars of the BBC’s Dragons’ Den programme. YO! Sushi, which is known for its conveyor belt system and theatre-style kitchens, serves over six million customers a year through its 91 restaurants worldwide. These include 75 company-owned sites across the UK, four company-owned sites in the US and 12 franchised restaurants in the Gulf.

One of the first European commercial successes in this field is clearly YO! Sushi, a UK-based Japanese fast-casual restaurant chain founded in London in 1997 by entrepreneur Simon Woodroffe, one of the original stars of the BBC’s Dragons’ Den programme. YO! Sushi, which is known for its conveyor belt system and theatre-style kitchens, serves over six million customers a year through its 91 restaurants worldwide. These include 75 company-owned sites across the UK, four company-owned sites in the US and 12 franchised restaurants in the Gulf.

The sushi chain, which has an annual turnover in excess of £80 million, made private equity headlines in November 2015 when Luxembourg-based Quilvest Private Equity successfully sold its controlling stake in YO! Sushi t to Mayfair Equity Partners for £82m (approximately €114million). Under Quilvest’s ownership and stewardship, from 2008 to 2015, YO! Sushi almost tripled in size and underwent transformational growth, with net revenues almost tripling and recording a compound annual growth rate of 14% despite the economic crisis. The company also successfully expanded internationally, in existing territories such as the Middle East as well as in new territories such as Norway, Denmark and more recently the US, where Quilvest actively supported YO! Sushi in structuring and setting up its US expansion strategy, including the opening of four company-owned restaurants in Florida and New Jersey.

YO! Sushi was sold in a competitive auction process which started in April 2015 and is rumoured to have attracted interest from other PE firms such as Morgan Stanley, Mistral Equity, Inflexion Private Equity and 3i Group.

Quilvest acquired YO! Sushi from PE firm Primary Capital in March 2008 for an undisclosed amount, when the company had approximately 30 restaurants in the UK. At the time, the chain was already present in a number of international locations but it required the support of a new experienced investor like Quilvest to help drive its further development and expansion, both in the UK and abroad. Primary Capital backed the £10 million management buy-out of YO! Sushi in August 2003 out of its second fund, Primary Capital II.

Appetite from private equity firms for Japanese restaurant chains has been on the rise with Bain Capital acquiring a stake in Skylark and Permira in Akindo Sushiro, both well-established Japanese chains. The fact that all have intentions to expand internationally will probably increase competition on the market and further moves for mergers and acquisitions will certainly be in the menu.


Quilvest Private Equity

Quilvest Private Equity is the private equity arm of the Quilvest Group, a leading, global, independent wealth manager and private equity investor, with a presence in Europe, the Americas, Asia and the Middle East.

Since 1972, Quilvest Private Equity invests and accompanies private small and medium sized companies in their strategic development over the long term. With a team of nearly 100 professionals investing both directly into companies and in funds and a global footprint (in Luxembourg, Paris, New York, London, Hong Kong and Dubai), Quilvest Private Equity manages approximately €4.4 billion of assets.

The private equity house is an active investor in the restaurant and hospitality sector. Following its successful investment in YO! Sushi in 2008, Quilvest became the largest shareholder in 2011 of Tortilla, a rapidly growing UK-based chain of Mexican quick-service restaurants, which has grown from 7 sites at the time of Quilvest’s investment to 27 sites in the UK today.

Quilvest Private Equity offers investment opportunities to its private and institutional investors on a large range of direct investments, private equity and private real estate funds, and through strategic partnerships, with a total alignment of interests.


Quilvest Group

Held by the same family for seven generations, Quilvest is an international financial group born from an industrial success at the end of the 19th century.

With approximately €34bn of assets under management, Quilvest is a leading global independent wealth manager and private equity investor dedicated to wealth preservation and generation.

Internationally present with 13 offices in 10 countries and a team of nearly 400 professionals, Quilvest is an international group established in all major financial centers. Quilvest’s sophistication, history and stability attest to the consistency and trustworthiness required to manage the wealth of private investors, families and institutions alike.


Simon Woodroffe, the man behind “YO!”

Simon Woodroffe dropped school at the age of 16 and spent most of his career in the entertainment business designing and staging concerts for the likes of Rod Stewart, Stevie Wonder and George Michael. He founded YO! Sushi in 1997, introducing the UK’s first conveyor belt sushi bar. The concept turned dining out into a complete entertainment experience, featuring call buttons, robot drinks trolleys and Japanese TV. The first restaurant opened in the heart of Soho and became an overnight phenomenon.
As a “Dragon” on BBC Two’s worldwide hit programme Dragons’ Den, and due to his entrepreneurial success, Simon has developed a strong reputation on the worldwide public speaking circuit. The restaurant concept evolved in the meanwhile to further YO! Brands. The first YOTEL opened in 2007 as a solution to “boring and expensive hotels” and YO! Home is on track to bring in 2016 the “re-invention of the city apartment”.

Capital V #7

Capital V #7

The magazine of LPEA – 1H 2016


Summary



YO! Sushi: Quilvest Exits The Conveyor Belt

Roundtable: Third party AIFMs are here to stay

RAIF, the new AIFMD-compliant vehicle

Private Equity, what’s next for 2016

Solvency II: Challenges and opportunities for the private equity industry

Enhancing Investor’s Professional Standards

Capital MArkets Union: from the shadows to market based finance – a real opportunity for Private Equity?

Feedback from the US: “Use an AIFM platform to accelerate your growth in Europe!”

Private Equity in China: waiting out the storm?

ATOZ Tax Trends – a 360 viewpoint on tax in Luxembourg

Luxembourg’s growing art scene


CONSULT


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