In theory champions of disclaimers of all types, we could cover several pages to remind you that our calling is not, in any way, of any sort, under any circumstances, in any capacity and other «nays» to counsel in terms of investment. But we won’t and we will limit ourselves in this heading to relay what may be heard in the right corridors… and no more.
September 2012: " An investment in a mezzanine fund would be a safe investment in these times and far less risky than an equity investment. The tandem Exposure / Yield is attractive since the IRR is around 15 % with, we are told, a very low rate of failure."
June 2013: “Do you like PRIVATE EQUITY ? Do you fancy investing in emerging countries ? There is a solution to reconcile both while minimizing the risks, provided that you are not too much in a hurry to recover your cash : the Private Equity’s funds of funds which specialize in geographical areas ( any emerging country, Asia or Latin America – Latam). It is a good way of mutualizing the risks on this class of assets with local and successful Private Equity specialists as the latter are very difficult to identify when you are far away from your base and when you have no local presence. A few major asset managers have developed this type of products with efficient teams and offices in the concerned areas.”
April 2015: "Purchase of commercial premises, preferably at the ground floor level in buildings located in shopping streets, but not necessarily pime location. Generally speaking in Paris, it is possible ton purchase such premises on the basis of a return rate “Deed in hands” between 5,5% and 6%. With a financing structured with 1/3 of equity and 2/3 of a loan (with an interest rate below 3%), the repayment of the loan is actually paid by the rent. This leads to an IRR in excess of 11, without taking into account the annual rent adjustments and the resulting increase in value of the premises, nor the tenants’ requests to change the activity carried on in the premises during the course of the lease, which represent as many opportunities for landlords to increase the rent as a consequence. Be careful though not to purchase premises the rent of which is already overvalued or premises which are empty and difficult to rent."