Contractual FCPRs: Clarification by the French Autorité des marchés financiers
By Allard de Waal, Delphine Prévot and Laurent Ragot
A law enacted on August 4, 2008 has introduced a new investment vehicle to meet the requests of the private equity industry in France: the contractual FCPR. Governmental decrees as well as a revised version of the general regulations of the French securities regulatory authority, the Autorité des marchés financiers (AMF), are still pending. However, the AMF has provided useful clarifications in a FAQ released on November 6, 2008.