Florence Moulin

Partner

Paris + 33.1.56.59.39.39

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Florence Moulin has more than 20 years experience in fund formation. She heads the investment funds practice in the Paris Office. She works primarily on behalf of general partners (GPs) on the legal and tax structuring of their alternative investment funds (private equity, infrastructure, real estate, and debt) and on the structuring of their carried interest. These funds can be classical or specific (feeders, parallels, co-investments, continuation/GP-leds, endowment funds, etc.).

Florence is also involved in the creation and approval of management companies by the AMF (Financial Markets Authority), as well as in AMF inspections and litigation. She assists clients with secondary transactions (on fund portfolios or management companies [GP stakes]) and limited partners (LPs) (companies, funds of funds, banks, etc.) with their fund investments.

Florence is the author of Private Equity Funds: legal and tax principles, sixth edition, coauthored with Marine L'Hostis and prefaced by Olivier Goy, which was published in 2024 with all royalties donated to the French Brain Institute. She has contributed to numerous publications, including the Guide to infrastructure investments, published by AF2I/JP Morgan.

She was a member of the legal committee of France Invest and participates in the work of the High Legal Committee of the Paris Financial Center (notably the Brexit group).

She is a regular lecturer at the University of Paris II (Panthéon-Assas) in the Masters 2 business and tax law and banking and financial law programs.

Prior to joining Jones Day in 2012, Florence was the legal and tax director at AFIC (now France Invest), where she was in charge of lobbying, and founded her own firm (Dfi Avocats) dedicated to investment funds.

Experience

  • Ardian Holding forms Ardian Growth IIIJones Day advised Ardian Holding in connection with the formation and fundraising of Ardian Growth III, a private equity fund focusing in the areas of digital industries (noticeably in IT software and IT services, Internet and new digital media), which has successfully reached a final closing of €530 million.
  • Beaureale advised on post-establishment fundraising on cross border basis of Dutch fund structureJones Day is advising Beaureale on the post-establishment fundraising in the Netherlands, Germany, France and Belgium of a Dutch fund structure, to be managed on a cross border basis by Beaureale Group's French AIFM.
  • Axeleo Capital announces closing of AXC2 at €73 millionJones Day advised Axeleo Capital in connection with the formation and fundraising of AXC2, a fund dedicated to B2B Tech startups, which has successfully reached a final closing of €73 million.
  • Serena Capital forms Serena Data Ventures IIJones Day advised Serena Capital in connection with the formation and fundraising of Serena Data Ventures II, a private equity fund dedicated to the building blocks of next-generation software.
  • Origine Partners forms Origine PME I fundJones Day advised Origine Partners in connection with the formation of the fund "Origine PME I", a private equity fund focusing on French companies operating in all sectors, but which generally have a B2B activity.
  • Argos Wityu holds first close for Argos Climate Action at €120 millionJones Day advised Argos Wityu in connection with the creation of the fund "Argos Climate Action", a buyout fund dedicated to decarbonizing European SMEs, which has held its first close at €120 million, reaching 40% of its initial target.
  • Frst Capital forms Frst3Jones Day advised Frst Capital in connection with the formation and fundraising of Frst 3, a private equity fund dedicated to tech start-ups, which held its first close at €72 million.
  • Arkéa Capital forms We Positive Invest 2 FPCIJones Day advised Arkéa Capital in relation to the creation and fundraising of We Positive Invest 2 FPCI, an impact Fund focused on the energy and climate change transition, the circular economy, the human capital, and the health and well-being sector.
  • Starquest forms Starquest Protect FundJones Day advised Starquest Capital in connection with the formation and fundraising of Starquest Protect Fund (a FPCI Article 9 under SFDR), a €130 million "impact" fund, which had its first closing at €60 million.
  • CDPQ participates in record investment in Hy2genJones Day advised Caisse de dépôt et placement du Québec (CDPQ) on its participation in the record €200 million investment in green hydrogen pioneer Hy2gen AG, the world’s largest private investment in green hydrogen to date.
  • RAISE Conseil forms RAISE Seed for GoodJones Day advised RAISE Conseil regarding the formation of RAISE Seed for Good, a seed fund dedicated to financing and supporting future European leaders in responsible Tech, which held its first closing at €40 million.
  • Mérieux Equity Partners leads $150 million growth financing of DentalMonitoringJones Day advised Mérieux Equity Partners in leading the $150 million growth financing of DentalMonitoring, a leading AI-based dental software company monitoring the dental and orthodontics fields, thus granting DentalMonitoring a well-deserved unicorn status, as the second French HealthTech company reaching this type of valuation.
  • Deutsche Bank and Société Générale underwrite €165 million SPAC IPO by DEE TechJones Day represented Deutsche Bank, as sole global coordinator and joint bookrunner, and Société Générale, as joint bookrunner, in connection with the €165 million initial public offering by DEE Tech, the first ever French SPAC in the tech sector, which will be listed on the Professional Segment of the regulated market of Euronext Paris.
  • Singular Capital Partners forms Singular Ventures I fundJones Day advised Singular Capital Partners in its "AIFM" approval by the AMF as well as in the formation and the fundraising of its first venture capital fund "Singular Ventures I" (FPCI).
  • Serena Capital announces final closing of SERENA III at €300 millionJones Day advised Serena Capital in connection with the formation of SERENA III, a fund dedicated to financing of start-ups specialized in gaming, online software (SaaS), enterprise software, fintech, consumer, and DeepTech.
  • Brownfields Gestion forms Foncière des Générations 1Jones Day advised Brownfields Gestion in connection with the formation of Foncière des Générations 1, a real estate fund under the form of a professional real estate collective investment scheme or OPPCI (Organisme Professionnel de Placement Collectif Immobilier).
  • iXO Private Equity forms iXO PME 1Jones Day advised iXO Private Equity in connection with the formation and fundraising of iXO PME 1, a fund dedicated to SMEs based in the South of France.
  • ISAI Gestion forms ISAI Venture IIIJones Day advised ISAI Gestion SAS in connection with the fundraising of ISAI Venture III, a venture capital fund that held its final closing at €120 million.
  • Bpifrance Investissement forms Bpifrance Entreprises 1Jones Day represented Bpifrance Investissement in connection with the formation of the fund "Bpifrance Entreprises 1," the first investment fund to be subscribed by the public, managed by Bpifrance, and launched on the initiative of the French Minister of Economy.
  • HEC Alumni creates venture capital fund to support entrepreneurship ventures from the HEC Paris communityJones Day assisted HEC Alumni in connection with the creation of a venture capital fund aimed to support entrepreneurship ventures from the HEC Paris community.
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    February 2019 White Paper

    Sustainability in EU Capital Markets: New Rules for Fund and Asset Managers Ahead

    March 2018 Commentary

    France and Luxembourg Sign New Tax Treaty

    September 2016 Jones Day Publications

    EuroResource--Deals and Debt

    August 2016 Jones Day Publications

    EuroResource—Deals and Debt

    June 2016 Newsletters

    EuroResource—Deals and Debt

    April 2016 Jones Day Publications

    EuroResource—Deals and Debt

    October 2015 Jones Day Publications

    EuroResource—Deals and Debt

    June 2015 Jones Day Publications

    EuroResource—Deals and Debt

    Mai 2015 Jones Day Publications

    Alternative Investment Funds N°13

    March 2015 Jones Day Publications

    EuroResource—Deals and Debt
    View All

    Additional Publications

    • June 21, 2024
      Sixth edition of ‘Les Fonds de Capital Investissement - Principes juridiques et fiscaux', coauthor
    • December 2020
      Les Fonds de Capital-Investissement — Principes juridiques et fiscaux », 5è édition, Préface de Marc Simoncini, Décembre 2020, Edition Gualino – Lextenso
    • September 12, 2018
      « Rapport Brexit de gestion d’actifs », report by the "Haut Comité Juridique de la Place Financière de Paris", 2018
    • April 1, 2016
      « Le livre blanc du Capital-Investissement en Afrique », a guide by France Invest, 2016
    • October 3, 2011
      « Le Guide des Investissements en infrastructures », a guide by the Af2i and JP Morgan Asset Management
    • April 1, 2009
      « Le Guide de l'investissement ISF dans les PME », Les Echos-Capital Finances

    September 18-20, 2023 Speaking Engagements

    Jones Day lawyers to attend IPEM 2023

    Additional Speaking Engagements

    • January 21, 2025
      Fonds d'investissement : actualités juridiques et fiscales (fonds de continuation, SLP sans personnalité morale, AIFM 2, quotas, apport cession..)
    • January 19, 2024
      Tendances et actualités du private equity en 2024 (apport-cession, assurance-vie et épargne salariale, PEA, Eltif 2)
    • November 21, 2023
      Accélération de la démocratisation du Private Equity (loi industrie verte et Eltif 2)
    • January 17, 2023
      Fonds d'investissement : tendances de marché en 2023 (management packages, démocratisation du PE, SFDR)
    • January 18, 2022
      Fonds d’investissement : quelles nouveautés ?
    • January 21, 2021
      Tendances et actualités du private equity en 2021
    • January 16, 2020
      Quelles opportunités en matière de levée de fonds en 2020 (apport-cession, loi Pacte et assurance vie…) ?
    • 26 septembre 2019
      Les outils d'une levée de fonds réussie
    • 14 fevrier 2019
      Actualité du Private Equity en 2019 : Brexit, lois de finances, projet de loi Pacte
    • 13 novembre 2018
      Projet de loi PACTE : Deux séminaires dédiés chez Jones Day
    • 6 mars 2018
      Tout savoir sur le "DIC PRIIPS"
    • 16 janvier 2018
      Actualité du private equity 2018 : la SLP, Fonds de dette, Actualités européennes, Actualité fiscale
    • 21 septembre 2017
      Corporates : comment mettre en place votre fonds de corporate venture ?
    • 5 juillet 2017
      Conférence du Private Equity en Afrique - 3ème édition - Fonds d’investissement en Afrique et Méditerranée : Etat des lieux des risques et retours d’expérience
    • 30 mars 2017
      Présidentielles, Fiscalité et Haut de Bilan - Les attentes des entrepreneurs ; les programmes des candidats - PME Finance et Centre des Professions Financières
    • 12 janvier 2017
      Private equity, infrastructure, dette : soyons prêts pour les réformes de 2017 !
    • 7 janvier 2016
      Le private equity : quelles opportunités pour 2016 ?
    • 27 janvier 2015
      Conférence annuelle du Private Equity en Afrique - 2ème édition
    • 15 janvier 2015
      Le private equity : le retour en force de la France ?
    • 2 octobre 2014
      PLF et PME : restaurer la compétitivité, organisé par PME Finance à l’Assemblée Nationale
    • 29 janvier 2014
      Le private equity en 2014 : tendances et opportunités
    • 23 janvier 2014
      Conférence annuelle du Private Equity en Afrique - 1ère édition
    • 14 Octobre 2013
      Conférence organisée par PME Finance, Assemblée Nationale, Projet de loi de finances pour 2014 : quelles mesures pour les PME ?
    • 27 Septembre 2013
      AFIC - Colloque : Comment mettre en place la directive AIFM au sein de votre société de gestion ? Intervention : Nouvelles règles d'organisation applicables aux sociétés de gestion AIFM
    • 10 juillet 2013
      Commercialisation des FIP et FCPI : êtes-vous à jour de vos obligations ?
    • 13 juin 2013
      Gérer l’AIFM : Revue des questions techniques impactant les professionnels de la gestion
    • 24 avril 2013
      L'AIFM, c'est aujourd'hui !
    • 29 janvier 2013
      Le Private Equity : où en sommes-nous ?
    • 22 janvier 2013
      Le financement des PME face à la crise - Séminaire organisé en partenariat avec PME Finance et Les Echos Etudes
    • 14 et 15 novembre 2012
      Enviro-Invest & Environmental Due Diligence
    • September 20, 2012
      SME Financing: legal news and market trends – in collaboration with NYSE Euronext and Société Générale
    • 20 septembre 2012
      Le financement des PME: actualités juridiques et tendances de marché - en partenariat avec NYSE Euronext et Société Générale
    • 11 juillet 2012
      Le projet de collectif budgétaire: quelles conséquences sur le financement des entreprises ? en partenariat avec DFi Avocats et PME Finance

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