Ipem 2018 What to Expect?

JANUARY 24-26, 2018 CANNES - FRANCE IPEM Preview

IPEM 2018 WHAT TO EXPECT?

Some of our 200+ conﬁ rmed speakers: Ruulke Bagijn Hazem Ben-Gacem Sandra Bosela Marco De Benedetti Mark Drugan Dominique Gaillard Managing Director & Head Head of Corporate Co-Head of Private Managing Director, Co-Head Managing Director Member of Primary Investments Investment, Europe Markets Group European Buy-Out Group Capital Dynamics of the Executive Board Alpinvest Partners Investcorp OPTrust The Carlyle Group Ardian www.ipem-market.com INITIATING AND SECURING SUCCESSFUL TRANSACTIONS FOR EXECUTIVES AND FAMILY SHAREHOLDERS

build-up TAX and corporate STRUCTURING D reshuffling De-listing (public to private)

wealth MANAGEMENT management PACKAGE E Employment, Incentives and Benefits

post-lbo C ipos Corporate Governance

112 avenue Kléber, 75116 Paris +33 1 83 92 38 38 • www.scotto-associes.com 24, 25, 26 JANUARY 2018 PALAIS DES FESTIVALS - CANNES - FRANCE INITIATING AND SECURING SUCCESSFUL TRANSACTIONS ON TRACK FOR A RECORD EDITION FOR EXECUTIVES OF IPEM 2018 AND FAMILY SHAREHOLDERS Welcome to the IPEM 2018 Preview magazine, a complete view of the Private Equity & Venture Capital industry and prevailing topics that will be discussed in Cannes next January. IPEM is the only international event to gather the whole PE/VC ecosystem and to offer an inno- vative format with private spaces and lounges, enabling you to relocate your ofﬁ ce and conduct business onsite. For our third edition, we are pleased to announce a 40% increase in participation, 150+ exhibitors, deeper international presence with European institutional investors as well as, Chinese, Canadians and Americans. For three days, Cannes will become the capital of the Private Equity & Venture Capital industry. With 1,400 delegates from 40 countries, including 250 LPs, IPEM continues to grow its global reach build-up TAX and in-depth approach of the themes covered in the programme of conferences. and corporate STRUCTURING 2017 is on track to break the fundraising record post 2008 global ﬁ nancial crisis, and within striking D reshuffling De-listing distance of the all-time annual fundraising record of $415bn set in 2007. (public to private) Gilles Barissat In this current challenging period, Europe appears to be an attractive opportunity offering huge President, IPEM potential for strong performance. Don’t miss the chance to be part of this one-of-a-kind experience.

On behalf of the whole IPEM team, I look forward to seeing you in Cannes!

wealth MANAGEMENT management PACKAGE E Employment, Incentives and Industry Partners Benefits

post-lbo C ipos Corporate Governance SPECIAL OFFER! Register online www.ipem-market.com -15% EARLY BIRD PRICE UNTIL DECEMBER 25, 2017 or call Rym Hosna Beneﬁ t Join 1,400 professionals Tel: +33 1 49 52 14 37 from our and mingle with the ecosystem E-mail: [email protected] last reduced of Private Equity & Venture Capital rate! To secure the best deal!

112 avenue Kléber, 75116 Paris +33 1 83 92 38 38 • www.scotto-associes.com IPEM Preview /// January 24-26, 2018 - Cannes (France) 3 24, 25, 26 JANUARY 2018 PALAIS DES FESTIVALS - CANNES - FRANCE PRACTICAL INFO

Practical info /// Partner hotels ///

Palais des Festivals - 1, boulevard de la Croisette - 06400 Cannes BEST RATE GUARANTEED IPEM OPENING HOURS • Opening party: Tuesday 23rd at 6.30 pm & BREAKFAST INCLUDED • Wednesday 24th from 9.00 am to 6.00 pm • Thursday 25th from 9.00 am to 6.00 pm MENTION IPEM & GET THE BEST DEAL! • Friday 26th from 9.00 am to 4.00 pm

COLLECT YOUR BADGE From Tuesday 23rd January 4.00 pm, present your voucher at the Registration desk and receive your badge. Once registered, your voucher will arrive by email. You can also download it on MyIPEM or on MyIPEM app

MyIPEM /// Beneﬁ t from the best deals negotiated for you. MyIPEM is a unique online plateform that enables you to: Book your hotel via MyIPEM!  CARLTON INTERCONTINENTAL Y • Get in touch with other participants and exchange private messages (5 ) 58, bvd de la Croisette +33(0)4 93 06 40 06 Y • Schedule meetings in advance  LE MAJESTIC (5 ) 10, boulevard de la Croisette +33(0)4 92 99 79 42 • Select the conferences which interest you most  FIVE SEAS HOTEL (5 ) 1, rue Notre-Dame Y +33(0)4 63 36 05 05 • Plan your visit easily with practical information  LE CANBERRA (4 ) 120, rue d’Antibes Y +33(0)4 97 06 95 00 • Choose your hotel  LE CAVENDISH (4 ) 11, boulevard Carnot Y +33(0)4 97 06 26 00 • Register your team with an up-to-date proﬁ le to be more visible  HOTEL SPLENDID (4 ) 4, rue Félix Faure Y +33(0)4 97 06 22 22 Start connecting now! And have it all with you onsite thanks to the app! https://account.ipem-market.com/

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4 IPEM Preview /// January 24-26, 2018 - Cannes (France) WHAT TO EXPECT?

WHAT TO EXPECT FROM IPEM 2018?

The International Private Equity Market (IPEM) is the world’s largest Private Equity and Venture Capital marketplace to gather the whole value chain of the industry. Make the most of your 3 days in Cannes to :

#1 Raise Funds IPEM offers a unique setting to connect LPs and GPs  250+ LPs with more than $400bn invested in PE/VC  A dedicated closed-door LP Summit for institutional investors  Business meetings between LPs and GPs  Keynotes and panels to address fundraising and fund terms topics

#2 Make Deals Accelerate your deal ﬂ ow in Cannes !  Deals and portfolio showcase events  A growing attendance of corporates and entrepreneurs  Conferences on future trends in deal making and structuring

#3 Celebrate and Communicate Share valuable moments with the PE/VC community  Numerous networking and social events at IPEM and in Cannes  Cocktails, daily lunches and happy hours in IPEM lounges  20+ international media outlets covering the event

#4 Get Inspired! Take part in high proﬁ le conferences and learning sessions  More than 50 conferences and 200 conﬁ rmed speakers  Learning sessions and thematic workshops to improve your skills  Peer-learning opportunities on stands and during networking events

IPEM 2018 IN A NUTSHELL 3 days in gather the whole PE/VC value chain… in Cannes, Palais des Festivals (24-26 jan. 2018) 150+ 250+ WHO ATTENDS IPEM 2018 1,400+ GPs, PE and VC funds LPs with $400bn+ • Institutional investors • Corporate ventures • Corporate investors invested in PE/VC • Private equity ﬁ rms • Funds of funds • Startups and entrepreneurs participants expected this year • Venture capital ﬁ rms • Investment banks / M&A • Corporate CEOs / CFOs (+40% vs 2017) 120+ 7,500 sqm • Infrastructure funds • Legal advisors • Service providers portfolio companies, of exhibiting space • Secondary funds • Transaction services • … corporates and entrepreneurs (150+ exhibitors) • Private debt funds • Placement agents 30+ 20+ 200+ networking and social events at IPEM and in Cannes media outlets covering IPEM 2018 #IPEM2018 speakers the hashtag to interact 14 MyIPEM with @IpemMarket and attendees partner professional associations your online database and networking tool

IPEM Preview /// January 24-26, 2018 - Cannes (France) 5 SPECIAL OFFER

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NOTRE DOSSIER LBO : Private equity le deal-flow

EN VUE LE COIN DES LPS CONFIDENTIEL ANALYSE EN VUE LE COIN DES LPS DEALS CI FOCUS SUÈDE : LE CARRY TAXÉ COMME DU SALAIRE La cour d’appel efface la juris- prudence Nordic Capital. P. 15

LE DEEP LEARNING ACTOMEZZ III ATTEINT GENUINE PARTS GILLES COLLOMBIN ENTRE DANS SON HARD CAP RACHÈTE ALLIANCE Charterhouse Capital SON ÂGE D’OR DE 300 M€ AUTOMOTIVE Il était responsable Dans ce segment de l’AI, Le gérant veut conduire Blackstone sort sur mondial du sponsor les start-up ont levé près de 90 % de ses deals en la base d’une valorisation coverage chez HSBC 1 Md$ depuis janvier. P. 4 sponsorless. P. 17 de 1,7 Md$. P. 5 depuis 2015. P. 26 ARDIAN DÉLESTE P.-A. DE SELANCY PRAGMA PRÉPARE SA ASSYSTEM 17Capital SORTIE DE BRUNET Il valorise 550 M€ Le fonds de preferred Le groupe d’ingénierie AyacheSalama avocats e > Paris / Londres l’activité de R & D equity lève son 4 fonds afﬁ che 13 M€ d’EBE www.ayachesalama.com externalisée. P. 4 à 1,2 Md€. P. 14 et 130 M€ de CA. P. 6

A ONE-YEAR SUBSCRIPTION INCLUDES: 44 printed magazines (weekly) + The annual corporate finance directory + Unlimited access to the website, the app and 3 data bases, including the one featuring all the deals completed in France since 2003 + The daily newsletter: stay tuned on deals, fund news and people movements on a day-to-day basis

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Contact: @ // [email protected] T. // +33 (0)1 70 37 61 35 SPECIAL OFFER 24, 25, 26 JANUARY 2018 PALAIS DES FESTIVALS - CANNES - FRANCE TRENDS 2018

5 KEY TRENDS AND PERSPECTIVES THE FRENCH LEADING MEDIA FEATURED AT IPEM 2018 ON M&A, PRIVATE EQUITY, #1 2017 was both a record and a transition year RESTRUCTURING AND FINANCING for the private equity and venture capital industry… As private equity and venture capital are set to break all funding records in 2017, the industry is preparing for some important transitions. Interestingly, some buyout pioneers chose to retire this year as the sector is entering a new era. Technological disruption, geopolitical risks, rock-bottom interest rates, slow economic growth, high valuations, increased sophistication among targets and investors are now the new normal. Where is 2018 headed ? 20% OFF $401bn +309 3,735 raised by PE/VC funds new PE/VC ﬁ rms PE deals YTD in 2017 YTD in 2017 launched YTD in 2017 (Preqin, Sept. 2017) NOTRE DOSSIER (Preqin Sept. 2017) (Preqin Nov. 2017)

NOTRE DOSSIER LBO : le deal-flow

EN VUE LE COIN DES LPS CONFIDENTIEL ANALYSE EN VUE LE COIN DES LPS DEALS CI FOCUS #2 Is it Europe’s golden opportunity ? Why 2018 could be

AyacheSalama avocats > Paris / Londres a great vintage in the Old World www.ayachesalama.com As the political uncertainties surrounding European Union in 2016/2017 continue to fade, interest in the Old World is rising among foreign investors. The European market appears increasingly attractive, supported by optimistic economic perspectives, relatively lower valuations and political stability. According to Preqin, 53% of LPs are currently expected to increase their A ONE-YEAR SUBSCRIPTION INCLUDES: PE allocation to Europe in the next 12 months – making it their number one destination for 2018. Foreign capital from North America and Asia is also getting directly involved in PE/ 44 printed magazines (weekly) VC deals in Europe. What does it mean for 2018 ? + The annual corporate finance directory PE/VC Fundraising in Europe – + Unlimited access to the website, the app and 3 data bases, by origin of funds 5,3 % 43% (2016 Invest Europe) including the one featuring all the deals completed in France since 2003 of funds raised by European PE funds in 2016 were non-european North + The daily newsletter: 7.5x (Invest Europe) America EV/EBITDA median multiple stay tuned on deals, fund news and people movements on a day-to-day basis in 2017 YTD 29,8 % European PE deals 6,4 % 6,8 % Subscribe now and save 20%! 50% 0,1 % of global LPs target European 24,1 % funds in the next 12 months (Preqin, Sept. 2017) capitalfinance.lesechos.fr/ipem Rest of the World 4,9 % 0,9 % Asia Australia Unclassiﬁ ed Europe 11,8 % Contact: 9,9 % @ // [email protected] T. // +33 (0)1 70 37 61 35 IPEM Preview /// January 24-26, 2018 - Cannes (France) 7

MONTHLY • le journal des professionnels du capital investissement

n September 2017 Special Issue

In hIs Itment comm Ize to moderneconomy, French macron emanuel wIll have I alto FIght soc Ism Ism he great conservat T and corporat Expectations

PRIVATE EQUITY MAGAZINE ThE GlobAl

SOCIÉTÉ WEB TÉLÉPHONE PAGE(S)

21 CENTRALE PARTNERS www.21partners.com 01 56 88 33 00 69 A PLUS FINANCE www.aplusfinance.com 01 40 08 03 40 15

ABENEX www.abenexcapital.com 01 53 9369 00 71, 153 2017 ACG MANAGEMENT www.acg-management.fr 04 91 29 41 50 17 ACTIVA CAPITAL www.activacapital.com 01 43 12 50 12 73 ADVANCY www.advancy.com 01 40 88 95 10 131 ADVENTION BUSINESS PARTNERS www.adventionbp.com 01 53 43 88 57 51, 133, 171 APAX PARTNERS www.apax.fr 01 53 65 01 00 75, 155 INARDIAN fowww.ardian.comRMATI 01 41 71 92 00 77, 157 oN ARGOS SODITIC www.argos-soditic.com 01 53 67 20 50 19, 79 ARSENE TAXAND www.arsene-taxand.com 01 70 38 88 00 53, 135, 173 ASTORG www.astorg.com 01 53 05 40 50 159 AYACHESALAMA www.ayachesalama.com 01 58 05 38 05 55, 137, 175 AZULIS CAPITAL www.azuliscapital.com 01 42 98 70 20 81 BTP CAPITAL INVESTISSEMENT www.btpki.fr 01 47 24 94 92 21, 83 Développement CEREA PARTENAIRE CAPITAL www.cerea.com 01 75 77 78 00 85 CEREA PARTENAIRE DETTE www.cerea.com 01 75 77 78 00 87 Financement CEREA PARTENAIRE MEZZANINE www.cerea.com 01 75 77 78 00 89 CHEQUERS CAPITAL www.chequerscapital.com 01 53 57 61 00 161 CLIFFORD CHANCE www.cliffordchance.com 01 44 05 52 52 139, 177 Acquisition CM-CIC INVESTISSEMENT www.cmcic-investissement.com 01 53 48 53 00 23, 91 La CM-CIC PRIVATE DEBT www.cmcic-privatedebt.com 01 53 48 35 12 93, 95 CRF ASSURANCES www.crfassurances.com 01 55 46 80 60 57, 141 référence DLA PIPER www.dlapiper.paris 01 40 15 24 00 143, 179 EIGHT ADVISORY www.8advisory.com 01 45 61 88 88 59, 145, 181 pour bien choisir EKKIO CAPITAL www.ekkio.fr 01 84 17 16 00 25, 97 ses partenaires EMZ swww.emzpartnersY sT01 53 30 23 30EM 99 EQUISTONE PARTNERS EUROPE SAS www.equistonepe.com 01 56 69 43 43 101, 163 et ses EURAZEO PME www.eurazeo-pme.com 01 53 83 81 60 103 GALIENA CAPITAL www.galiena-capital.com 01 71 41 71 40 27 e conseiLs GATIENNE BRAULT & ASSOCIES www.brault.net 01 55 65 16 51 61, 147 GIMV on frenchwww.gimv.com and01 58 36 45european 60 29, 105 12 IDIA CAPITAL INVESTISSEMENT www.ca-idia.com 01 43 23 24 24 31, 107 édition IFE MEZZANINE www.ifemezzanine.comprivate 01equity 56 52 02 40 109

Gp DU FINANCEMENT PAR LE CAPITAL INVESTISSEMENT LE CAPITAL DU FINANCEMENT PAR

INITIATIVE & FINANCE www.initiative-finance.com 01 56 89 97 00 33 IXO PRIVATE EQUITY www.ixope.fr 05 34 41 74 18 35, 111 LBO FRANCE www.lbofrance.com 01 40 62 77 67 113, 165 MEESCHAERT CAPITAL PARTNERS www.meeschaertcapitalpartners.com 01 53 40 24 78 115 MML CAPITAL www.mmlcapital.com 01 53 53 14 88 37, 117 MONTAGU PRIVATE EQUITY www.montagu.com 01 44 95 11 80 167 NAXICAP PARTNERS www.naxicap.fr 01 58 19 22 20 39, 119 NIXEN www.nixen.com 01 75 77 46 00 121 OMNES CAPITAL www.omnescapital.com 01 80 48 79 00 41, 123 PARQUEST CAPITAL www.parquest.fr 01 70 08 60 90 125 QUALIUM INVESTISSEMENT www.qualium-investissement.com 01 81 80 47 00 127 RAISE www.raisefrance.com 01 84 17 09 09 169 SIPAREX ETI www.siparex.com 01 53 93 02 20 129 SIPAREX MIDCAP www.siparex.com 01 53 93 02 20 43 SIPAREX SMALL CAPS www.siparex.com 01 53 93 02 20 45 tRAnsmission SODICA CORPORATE FINANCE www.ca-sodica.com 01 43 23 25 00 63, 149 UI GESTION www.uigestion.fr 01 42 56 66 00 47 eXpAnsion VILLECHENON www.villechenon.com 01 42 68 81 30 65 www.pemagazine.fr XANGE GROUPE SIPAREX www.xange.fr 01 53 93 02 20 49 www.pemagazine.fr PRIVATE EQUITY PRIVATE MAGAZINE

The magazine, The websiTe, The daTabase, The deals The weekly newsleTTer, The direcTory, The annual awards evenT...

For more informations, please contact us at : 01 40 33 71 93 or [email protected]

Lipari presse ◆ 113 rue saint Maur ◆ 75011 paris ◆ www.peMagazine.fr 24, 25, 26 JANUARY 2018 PALAIS DES FESTIVALS - CANNES - FRANCE TRENDS 2018

MONTHLY • le journal des professionnels du capital investissement n September 2017 Special Issue #3 Too much money chasing too few opportunities ? Why dry powder and valuations will matter in 2018 At the end of 2017, levels of dry powder held by PE funds are nearing $1tn for the fi rst time ($954bn in sept. 2017 / Preqin). As funds raised reach new records, the exit environment appears more and more challenging and PE sponsors struggle to fi nd strategic acquirers for portfolio companies. Stretched valuations also create a bottleneck in many markets and add pressure to secondary buyouts. These conditions are set to continue in 2018. How will you cope with them? The great ~$1tn -15% 86% the level of dry powder the decline of PE exits of investors think valuations Expectations held by PE funds will be an issue for PE in Europe in 2017 at the end of 2017 (Preqin, Sept. 2017) in the next 12 months (Preqin, Sept. 2017) (Preqin, June 2017) PRIVATE EQUITY MAGAZINE #4 The power pendulum. How is the relationship between LPs and GPs changing ? 2017 was marked by the comeback of mega-funds : 37% of global PE commitments were raised by only 5 funds this year (EY/Preqin, oct. 2017). Meanwhile, as the market gets more competitive, investors are increasingly concerned ThE GlobAl about returns and fund terms. Co-investments and direct investments are becoming mainstream, with numerous deals involving institutional investors in 2017. Will big buyout fi rms maintain their bargaining power in 2018? Or will LPs win this tug-of-war? What does this new paradigm mean for the mid-market and venture capital? SOCIÉTÉ WEB TÉLÉPHONE PAGE(S)

21 CENTRALE PARTNERS www.21partners.com 01 56 88 33 00 69 A PLUS FINANCE www.aplusfinance.com 01 40 08 03 40 15

ABENEX www.abenexcapital.com 01 53 9369 00 71, 153 2017 ACG MANAGEMENT www.acg-management.fr 04 91 29 41 50 17 ACTIVA CAPITAL www.activacapital.com 01 43 12 50 12 73 of investors plan to increase PE allocation in the long term ADVANCY www.advancy.com 01 40 88 95 10 131 ADVENTION BUSINESS PARTNERS www.adventionbp.com 01 53 43 88 57 51, 133, 171 39% APAX PARTNERS www.apax.fr 01 53 65 01 00 75, 155 INARDIAN fowww.ardian.comRMATI 01 41 71 92 00 77, 157 oN ARGOS SODITIC www.argos-soditic.com 01 53 67 20 50 19, 79 ARSENE TAXAND www.arsene-taxand.com 01 70 38 88 00 53, 135, 173 ASTORG www.astorg.com 01 53 05 40 50 159 AYACHESALAMA www.ayachesalama.com 01 58 05 38 05 55, 137, 175 of LPs are involved in co-investments AZULIS CAPITAL www.azuliscapital.com 01 42 98 70 20 81 BTP CAPITAL INVESTISSEMENT www.btpki.fr 01 47 24 94 92 21, 83 Développement 46% CEREA PARTENAIRE CAPITAL www.cerea.com 01 75 77 78 00 85 CEREA PARTENAIRE DETTE www.cerea.com 01 75 77 78 00 87 CEREA PARTENAIRE MEZZANINE www.cerea.com 01 75 77 78 00 89 CHEQUERS CAPITAL www.chequerscapital.com 01 53 57 61 00 161 CLIFFORD CHANCE www.cliffordchance.com 01 44 05 52 52 139, 177 Acquisition of investors believe fund terms have changed CM-CIC INVESTISSEMENT www.cmcic-investissement.com 01 53 48 53 00 23, 91 La CM-CIC PRIVATE DEBT www.cmcic-privatedebt.com 01 53 48 35 12 93, 95 CRF ASSURANCES www.crfassurances.com 01 55 46 80 60 57, 141 référence 37% in favor of LPs in the last 12 months DLA PIPER www.dlapiper.paris 01 40 15 24 00 143, 179 EIGHT ADVISORY www.8advisory.com 01 45 61 88 88 59, 145, 181 pour bien choisir EKKIO CAPITAL www.ekkio.fr 01 84 17 16 00 25, 97 ses partenaires EMZ swww.emzpartnersY sT01 53 30 23 30EM 99 EQUISTONE PARTNERS EUROPE SAS www.equistonepe.com 01 56 69 43 43 101, 163 et ses of investors think that GP and LP interests EURAZEO PME www.eurazeo-pme.com 01 53 83 81 60 103 GALIENA CAPITAL www.galiena-capital.com 01 71 41 71 40 27 e conseiLs GATIENNE BRAULT & ASSOCIES www.brault.net 01 55 65 16 51 61, 147 37% are not properly aligned (+6 points vs 2016) GIMV on frenchwww.gimv.com and01 58 36 45european 60 29, 105 12 IDIA CAPITAL INVESTISSEMENT www.ca-idia.com 01 43 23 24 24 31, 107 édition IFE MEZZANINE www.ifemezzanine.comprivate 01equity 56 52 02 40 109 Source : Preqin, June 2017

DU FINANCEMENT PAR LE CAPITAL INVESTISSEMENT LE CAPITAL DU FINANCEMENT PAR #5 Where are the next value-creating deals?

INITIATIVE & FINANCE www.initiative-finance.com 01 56 89 97 00 33 IXO PRIVATE EQUITY www.ixope.fr 05 34 41 74 18 35, 111 LBO FRANCE www.lbofrance.com 01 40 62 77 67 113, 165 MEESCHAERT CAPITAL PARTNERS www.meeschaertcapitalpartners.com 01 53 40 24 78 115 MML CAPITAL www.mmlcapital.com 01 53 53 14 88 37, 117 Promising industries and deal structuring for 2018 MONTAGU PRIVATE EQUITY www.montagu.com 01 44 95 11 80 167 NAXICAP PARTNERS www.naxicap.fr 01 58 19 22 20 39, 119 NIXEN www.nixen.com 01 75 77 46 00 121 OMNES CAPITAL www.omnescapital.com 01 80 48 79 00 41, 123 In 2017, add-ons were still PE’s favorite narrative, accounting for 64% of buyout deals in the US and 51% in Europe. These PARQUEST CAPITAL www.parquest.fr 01 70 08 60 90 125 QUALIUM INVESTISSEMENT www.qualium-investissement.com 01 81 80 47 00 127 RAISE www.raisefrance.com 01 84 17 09 09 169 SIPAREX ETI www.siparex.com 01 53 93 02 20 129 platform deals are widely preferred by investors as they reﬂ ect PE’s ability to add value through operational improvement. SIPAREX MIDCAP www.siparex.com 01 53 93 02 20 43 SIPAREX SMALL CAPS www.siparex.com 01 53 93 02 20 45 tRAnsmission SODICA CORPORATE FINANCE www.ca-sodica.com 01 43 23 25 00 63, 149 UI GESTION www.uigestion.fr 01 42 56 66 00 47 eXpAnsion Will this trend last in 2018? Take-private deals and club-deals made a comeback in 2017 ; infrastructure and long-dated VILLECHENON www.villechenon.com 01 42 68 81 30 65 www.pemagazine.fr XANGE GROUPE SIPAREX www.xange.fr 01 53 93 02 20 49 www.pemagazine.fr

PRIVATE EQUITY PRIVATE MAGAZINE private equity were also on the rise. What will 2018 new practices be? And as growing numbers of industry-focused funds are launched, what will the booming sectors next year for PE/VC be? Will software, healthcare and ﬁ nancial services still be the industy’s darlings? Or will media, entertainment, education, restaurants or pharma surpass them? See you at IPEM to uncover 2018 trends!

The magazine, The websiTe, The daTabase, The deals Preqin is the leading source of information for the alternative assets industry, providing data and analysis via online databases, publications and complimentary research reports. With the most comprehensive and extensive The weekly newsleTTer, The direcTory, The annual awards evenT... information available on the private equity, hedge fund, real estate, infrastructure, private debt and natural resources industries, Preqin is relied upon daily by over 47,000 professionals worldwide. Founded in 2003, Preqin operates from ofﬁ ces in New York, London, Singapore, San Francisco, Hong Kong, Manila and Guangzhou. For more informations, www.preqin.com please contact us at : 01 40 33 71 93 or [email protected]

Lipari presse ◆ 113 rue saint Maur ◆ 75011 paris ◆ www.peMagazine.fr IPEM Preview /// January 24-26, 2018 - Cannes (France) 9 24, 25, 26 JANUARY 2018 PALAIS DES FESTIVALS - CANNES - FRANCE CONFERENCES AND EVENTS PROGRAM

TUESDAY JANUARY 23 WEDNESDAY JANUARY 24 9:00 am

9:15 - 9:30 R1 OPENING COCKTAIL Ofﬁ cial Opening 6:30 pm at Verrière Louis Lumière HBR Global Private R1 Geopolitics: Europe Palais des Festivals – Cannes Markets: An overview is back & facing up to 10:00 am technological disruptions 10:15 am HBR Allocation R1 PE in France I: R2 Infrastructure I: R3 Private Debt I: strategy: How to How did the industry Where did the smart What are the risks deploy (and protect) fare in 2017 and what’s money go in 2017 and opportunities? capital in today’s in store for 2018? and what are the trends How to proﬁ tably deploy frothy markets? for 2018? record amounts of dry powder? Highlights 2018 11:00 am 11:15 am HBR LP/GP R1 PE in France II: R2 Infrastructure II R3 Private Debt II: LP Summit: our closed-door event gathering institutional investors : to tackle key issues in PE /VC through a morning of interactive 11:30 am relationship: How Large deals in France – Sector selection Which product roundtables to juggle between deal sourcing, leverage and value creation. innovations direct and value creation to drive returns? Entrepreneur & Corporate programme: our dedicated track of invest/ co-invest/ conferences and keynotes examining winning tech trends 12:00 pm fund invest? with some of Europe’s most dynamic growth companies VC Summit: our workshops for corporates and entrepreneurs to partner with PE /VC funds including mentoring sessions and portfolio showcases ROOMS HBR Harbour Business Room R1 Room 1 R2 Room 2 R3 Room 3 NETWORKING LUNCH 1:00 pm

1:45 am R1 PE in France II: R2 Infrastructure III: R3 Secondaries I: 2:00 pm How to achieve superior Infrastructure & traditional PE Update on fundraising, returns with midmarket deals? where are the limits? capital deployment, pricing and innovation

2:30 am 2:45 am R1 Operational Excellence: R2 PE France IV: R3 Secondaries II: 3:00 pm Helping your portfolio Venture & growth funds Focus on liquidity solutions companies to achieve best What are the most promising for GPs and real asset 3:15 pm in class performance. sectors? secondaries 3:30 am 3:45 am R1 PE Iberia I: R2 PE France V: R3 PE Italy I: 4:00 pm Market characteristics, Investment showcase A land of opportunities – fundraising, capital Spotless & Colisée Group attractive SMEs, deployment and outlook lifestyle brands for 2018 and hidden champions 4:30 am 4:45 am R1 PE Italy II: R2 Fundraising & deal R3 5:00 pm market PE Iberia II: characteristics, fundraising, structuring: Getting the basic How they do it? capital deployment right - fund & deal structuring, Value creation strategies and outlook for 2018 management incentives 5:30 am

6:00 pm

10 IPEM Preview /// January 24-26, 2018 - Cannes (France) CONFERENCES AND EVENTS PROGRAM as of 24/11/2017

THURSDAY JANUARY 25 FRIDAY JANUARY 26 9:00 am

9:30 am R1 Macro: 10 global trends HBR Entrepreneur & Corporate R1 European venture update: R2 Business Angel Keynote R3 PE in China I: that will impact PE in 2018 Programme Fundraising, Silk Road, One Belt, 5 year plan, fi nancing rounds, exits & market forces 10:00 am outlook for 2018 R1 PE in 2018 and beyond: 10:15 am Distribution, fundraising, fi nding 10:30 am & creating value, R1 Fintech/ Insurtech R2 Artifi cial Intelligence/ R3 Top GP on in- and outward geographies and PE-sectors. Big Data investment trends How the coming years might shape up? 11:00 am 11:15 am R1 What LPs want and what GPs deliver 11:30 am R1 Internet of Things R2 Consumer marketplaces R3 PE in China II: & e-commerce Will the tide turn? 12:00 pm 12:15 pm R1 Leading GPs R2 ESG pays! R3 Corporate venture: on sourcing, value creation Best practice in introducing A new way of smart co-investing? and exist strategies and monitoring ESG

1:00 pm NETWORKING LUNCH

NETWORKING LUNCH 2:00 pm R1 Healthcare & Edutech R2 B2B/ SaaS R3 PE in Africa I: A continent of opportunities: fundraising & capital deployment R1 Top GP on industry trends R2 Fundraising: R3 PE in UK I: 2:45 am for Europe & globally How to differentiate Growth of Sector funds – a recipe Keynote by Marco De Benedetti and attract investment for superior performance? 3:00 pm R1 Cybersecurity R2 Infrastructure/ R3 PE in Africa II: Data Centers Generating deal-ﬂ ow, value creation and exit opportunities

R1 Mid-market growth funds: R2 PE in German R3 Healthcare and Biotech 3:45 am European versus speaking countries: national footprint Does the « Mittelstand » still hold 4:00 pm it’s value creation promise? FAREWELL COFFEE

R1 PE in UK II: R2 PE in the Nordics: R3 Real Estate: Is traditional PE enough? Highly attractive but fund Maximizing returns Multi-strategy vs. single deployment is a real challenge in crowded markets structure funds

HAPPY HOUR ENTREPRENEURS

THE IPEM GRAND COCKTAIL PARTY

IPEM Preview /// January 24-26, 2018 - Cannes (France) 11 24, 25, 26 JANUARY 2018 PALAIS DES FESTIVALS - CANNES - FRANCE AMONG OUR 2018 SPEAKERS

As of November 30, 2016 SEIZE THE OPPORTUNITY TO HEAR FROM OUR 200+ INSPIRATIONAL SPEAKERS

Michel Abouchalache François Aguerre Jean-Luc Allavena John Anderson Founder Partner Chairman Head of Corporate TriSpan Coller Capital Atlantys Investors Finance Manulife

Richard Anton André Aubert Ruulke Bagijn François Barbier General Partner Partner Managing Director Deputy General OXX LGT Capital Partners & Head of Primary Manager & Investments Managing Partner Alpinvest Partners 21 Centrale Partners

Stéphane Barret Antoine Baudesson Christophe Bavière David Beamish MD - Head of Director Chief Executive Officer Principal European Financial HIG European Capital Idinvest Partners Stepstone group Sponsors Coverage Partners CACIB

Charles Beigbeder Hazem Ben-Gacem Laurent Bénard Joost Bergsma President Head of Corporate Managing Partner Managing Partner Gravitation Investment, Europe Capzanine Gleenmont Investcorp

Jeremie Berrebi Ramon Betolaza Ewa Bielecka Rigby Sandra Bosela CEO Managing Partner Investment Director Co-Head of Private Magical Capital Black Toro Capital LDC Markets Group OPTrust

Hendrik Brandis Janet Brooks Catherine Brossard Lukas Bucher Partner & Co-Founder Managing Director Managing Director Managing Director Earlybird Monument Group Cerberus Partners Group

Ming-Po Cai Rémi Carnimolla Matteo Cirla Ed Clarke Founder & President Partner Managing Director Founder Director, Cathay Capital 3i IGI Infracapital Infracapital

Etienne Colas Brian Coulton Roberto d’Angelo Marco de Benedetti Managing Director Chief Economist Managing Director, Managing Director, LBO France Fitch Ratings Country Manager Italy Co-Head European LBO France Buy-Out Group The Carlyle Group

12 IPEM Preview /// January 24-26, 2018 - Cannes (France) AMONG OUR 2018 SPEAKERS as of 24/11/2017

Hélène de Cointet Raffaele de Courten Arnaud de Cremiers Renaud de Matharel Co-head Founding Partner Partner CEO & Managing Safran Corporate Alto Partners Adams Street Partner Ventures Partners Cube

Jean-Michel Deligny Silva Dezelan Stefano Drago Mark Drugan Managing Director Director Partner Managing Director Silverpeak Robeco Private Equity PAI Partners Capital Dynamics

Benjamin Dupuy Renaud Dutreil Christopher Elvin Bernhard Engelien Partner Head of Mirabaud Head of Private Managing Director BC Partners Private Equity Equity Products Greenhill & Co Mirabaud Group Preqin

Hélène Falchier Jerome Faul Laurent Fayollas Daniel Flaig Head of Private Managing Partner Managing Director Managing Partner Equity & CEO Open Innovacom Ardian Capvis CNP Assurances

Uwe Fleischhauer Ralf Flore Mark Florman Anne Fossemalle Founding / Managing Partner Founder Director of Equity Managing Partner Ufenau Capital Time Partners Funds Yielco Investments Partners EBRD AG

Alexander Friedrich Dominique Gaillard Oliver Gardey Arnaud Partner Member of the Partner Garel-Galais Quadriga Capital Executive Board Pomona Capital Business Ardian Development Director CACEIS

Anna Gervasoni Nicolas Gheysens William Gilmore Ralf Gleisberg (Prof.) Director Head of Primary Partner Director General KKR Funds Europe Akina Partners AIFI Aberdeen

Benoist Grossmann Jochen Gutbrod Tim Hames Ian Harding Managing Partner Executive Chairman & Director General Co-Managing Partner Idinvest Partners Partner BVCA Arcus Infrastructure BTOV Partners Partners

Kathryn Harrison Tom Henriksson Regina Hodits Ambroise Huret Environmental Risk Partner General Partner Partner Manager OpenOcean Wellington Partners Eleven Strategy EY

IPEM Preview /// January 24-26, 2018 - Cannes (France) 13 24, 25, 26 JANUARY 2018 PALAIS DES FESTIVALS - CANNES - FRANCE AMONG OUR 2018 SPEAKERS

As of November 30, 2016

Christine Jeandel François Jephargnon Tarang Katira Michael Kleindl President Managing Director Principal, Fund Managing Partner Colisee Group Ardian Expansion Investment Europe Seaya Ventures Hamilton Lane

Torsten Krumm Valdimir Lasocki Jean François Pierre Le Tanneur Managing Partner Managing Le Ruyet Founding Partner HQ Equita Director Partner Momentum Invest The Carlyle Group Quilvest

Charles Letourneur Thomas Liaudet Sandra Lowe Yuebing Lu Managing Partner Partner Director, Business Vice-Chairman and Co-Founder Campbell Lutyens Development China Funds Alven Capital InfraRed Capital Siguler Guff Partners Limited

Neil MacDougall Alex Macpherson Cécile Mayer Levi Dominik Meyer Managing Partner Chairman Co-Head of private Debt Managing Partner Silverfleet Capital Octopus Ventures Tikehau Capital AXON Partners AG

Olivier Millet Simon Moss Alban Neveux Christophe Nicolas Chairman of the Partner Group CEO Partner Executive Board Hermes GPE Advention Alpinvest Partners of Eurazeo PME & Chairman of the AFIC

Patrick Pace Antoine Papiernik Jean-Marc Paul Perpère Managing Director Managing Partner Patoulliaud Director General UTIMCO Sofinnova Managing Partner AFIC Partech Ventures

Frédéric Pescatori Pierre Popesco David Porter Philippe Pouletty Head of France Partner Managing Partner Co-Founder & Managing Bridgepoint CMS Apposite Capital Director Truffle Capital

Fabien Prevost Juan Luis Ramirez Mathias Reicherter Joana Rocha-Scaff CEO Founding Partner Partner Managing Director Omnes Capital of Portobello Capital Golding Capital Neuberger Berman & Chairman of the ASCRI

Nicolas Rose Maria Sanz Serge Savasta Angelika Schöchlin Partner Partner Managing Partner Senior Partner XAnge SwanCap Partners Omnes Capital Antin Infrastructure

14 IPEM Preview /// January 24-26, 2018 - Cannes (France) AMONG OUR 2018 SPEAKERS as of 24/11/2017

Joe Schorge Martin Scott Eric Sebellin Gregoire Sentilhes Managing Partner Partner and Head of Managing Director Chairman & CEO Isomer Capital Operations Aliad Venture Capi- Nextstage Riverside Europe tal (Air Liquide) Partners

Moti Shahani Marco Sodi Viktor Speckinger Lorenzo Stanca Managing Partner Partner CEO Director Volpi Capital Akina Partners Mandarin Capital Blue Ridge Partners Partners

Helen Steers Eli Talmor (Prof.) Frans Tieleman Thierry Timsit Partner and Head Head of the Institute Managing Partner Managing Partner of European Primary of Private Equity Eurazeo Development Astorg Partners Investment of London Business Pantheon Ventures & School Chairman of the BVCA

Joe Topley Jim Weight Fergus Wheeler Marco Wulff EMEA Funds Portfolio Managing Partner Senior Managing Partner & Co-Founder Manager Weight Partners Director Montana Capital Ontario Teachers’ Capital FTI Consulting Partners Pension Plan

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IPEM Preview /// January 24-26, 2018 - Cannes (France) 15 24, 25, 26 JANUARY 2018 PALAIS DES FESTIVALS - CANNES - FRANCE EXHIBITING COMPANIES

MEET THE 150+ EXHIBITING COMPANIES

Gathering the whole value chain of the industry, IPEM is designed as a marketplace to AT IPEM 2018 foster business opportunities between private and institutional investors, investment funds, service providers, corporates and entrepreneurs. IPEM exhibitors relocate their ofﬁ ce for 3 days in Cannes in branded, personalized and fully equipped stands to welcome their guests and host their meetings. Do not hesitate to contact our sales team to enquire about the exhibiting / sponsorship opportunities still available !

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16 IPEM Preview /// January 24-26, 2018 - Cannes (France) EXHIBITING COMPANIES as of 24/11/2017

IPEM Preview /// January 24-26, 2018 - Cannes (France) 17 24, 25, 26 JANUARY 2018 PALAIS DES FESTIVALS - CANNES - FRANCE

* Exhibiting companies

COMPANY NAME COUNTRY ACTIVITY COMPANY NAME COUNTRY ACTIVITY

# ALIAD VENTURE CAPITAL (AIR LIQUIDE) FRANCE Corporate / Business Entrepreneur 17CAPITAL UNITED KINGDOM Fund of Funds * ALLIANCE ENTREPRENDRE FRANCE General Partner * 21 PARTNERS FRANCE General Partner ALPINVEST PARTNERS NETHERLANDS Fund of Funds 3I FRANCE General Partner * ALTER DOMUS LUXEMBOURG Business Service 747 CAPITAL UNITED STATES Limited Partner ALTER EQUITY FRANCE General Partner * ALTO PARTNERS ITALY General Partner A ALVEN CAPITAL FRANCE General Partner A PLUS FINANCE FRANCE General Partner AON M&A AND TRANSACTION * UNITED KINGDOM Business Service ABERDEEN UNITED KINGDOM Limited Partner SOLUTIONS ACCESS CAPITAL PARTNERS FRANCE Fund of Funds AON M&A AND TRANSACTION * FRANCE Business Service ACCURACY FRANCE Business Service SOLUTIONS ACG CAPITAL FRANCE Fund of Funds APAX PARTNERS FRANCE General Partner ACG MANAGEMENT FRANCE General Partner APO'LAW OPPORTUNITIES BUSINESS * FRANCE Business Service * ACROPOLIS ASSOCIATES CHINA CHINA Business Service CLUB ACTIVA FRANCE General Partner APPOSITE CAPITAL UNITED KINGDOM General Partner ADAMS STREET PARTNERS UNITED KINGDOM Fund of Funds ARCUS INFRASTRUCTURE PARTNERS UNITED KINGDOM General Partner * ADVENTION BUSINESS PARTNERS FRANCE Business Service * ARDIAN FRANCE General Partner AF2I FRANCE Institution / Association ARENDT & MEDERNACH LUXEMBOURG Business Service * AFIC FRANCE Institution / Association * ARTEMID FRANCE General Partner AGAMI FAMILY OFFICE FRANCE Limited Partner * ASCRI SPAIN Institution / Association AIFI ITALY Institution / Association ASTORG FRANCE General Partner AIMS UAE General Partner ATLANTYS INVESTORS MONACO General Partner AKINA SWITZERLAND Fund of Funds ATOZ S.A. LUXEMBOURG Business Service

18 IPEM Preview /// January 24-26, 2018 - Cannes (France) REGISTERED COMPANIES as of 24/11/2017

* Exhibiting companies

COMPANY NAME COUNTRY ACTIVITY COMPANY NAME COUNTRY ACTIVITY

AVIVA FRANCE FRANCE Limited Partner CLEARSIGHT INVESTMENTS SWITZERLAND Fund of Funds AXON PARTNERS SWITZERLAND Business Service CLIFFORD CHANCE FRANCE Business Service * CM-CIC PRIVATE DEBT FRANCE General Partner B * CMS FRANCE Business Service BAI GERMANY Institution / Association * CMS UNITED KINGDOM Business Service * BAKER TILLY FRANCE Business Service * CMS MONACO Business Service BARCLAYS BANK MONACO Business Service CNP ASSURANCES FRANCE Limited Partner BC PARTNERS UNITED KINGDOM General Partner COLISEE FRANCE Corporate / Business Entrepreneur * BDO FRANCE FRANCE Business Service * COLLABORATION CAPITAL FRANCE Business Service BEELEEV FRANCE Association Corporate COLLER CAPITAL UNITED KINGDOM Fund of Funds BESTER POWER CHINA Corporate / Business Entrepreneur COMATCH GERMANY Corporate / Business Entrepreneur BLACK TORO CAPITAL SPAIN General Partner COMMITTED ADVISORS FRANCE Fund of Funds BLOOMBERG GERMANY Media COMPAGNIE BENJAMIN DE ROTHSCHILD SWITZERLAND General Partner BLUE RIDGE PARTNERS UNITED KINGDOM Business Service * CONQUEST FRANCE General Partner BLUEBAY ASSET MANAGEMENT UNITED KINGDOM General Partner CONSILIO ASESORES PATRIMONIALES SPAIN Limited Partner * BNP PARIBAS FRANCE Business Service INDEPENDIENTES EAFI BNP PARIBAS CAPITAL PARTNERS FRANCE Fund of Funds CPME FRANCE Association Corporate BNP PARIBAS CARDIF FRANCE Limited Partner * CREDIT AGRICOLE CIB FRANCE Business Service BNP PARIBAS PRINCIPAL INVESTMENTS FRANCE Limited Partner CRPNPAC FRANCE Limited Partner * BNP PARIBAS SECURITIES SERVICES FRANCE Business Service CUBE INFRASTRUCTURE LUXEMBOURG General Partner BPIFRANCE FRANCE Limited Partner CVCA CANADA Institution / Association BPIFRANCE INVESTISSEMENT FRANCE General Partner CYBERNAUT INVESTMENT CHINA General Partner BRED BANQUE POPULAIRE FRANCE Limited Partner * BREEGA FRANCE General Partner D BRIDGEPOINT FRANCE General Partner DE PARDIEU BROCAS MAFFEI FRANCE Business Service BTOV PARTNERS SWITZERLAND General Partner DEBIOPHARM INVESTMENT SWITZERLAND Limited Partner BVA BELGIUM Institution / Association DEG GERMANY Limited Partner * BVCA UNITED KINGDOM Institution / Association DELVILLE MANAGEMENT FRANCE Business Service BVK GERMANY Institution / Association DEMETER PARTNERS FRANCE General Partner DENTONS FRANCE Business Service C DEUTSCHE BANK WEALTH MANAGEMENT FRANCE Limited Partner * CACEIS FRANCE Business Service * DLA PIPER FRANCE Business Service CAISSE D'EPARGNE COTE D'AZUR FRANCE Limited Partner DRAPER ESPRIT UNITED KINGDOM General Partner CAISSE D'EPARGNE DE BOURGOGNE * DROOMS FRANCE Business Service FRANCE Limited Partner FRANCHE-COMTE DUHAMEL BLIMBAUM FRANCE Business Service CAISSE DES DÉPÔTS ET CONSIGNATIONS FRANCE Limited Partner * DWF FRANCE Business Service * CAMPBELL LUTYENS UNITED KINGDOM Business Service * DWF GERMANY Business Service CAPITAL DYNAMICS UNITED KINGDOM Fund of Funds * DWF UNITED KINGDOM Business Service * CAPITAL EXPORT FRANCE General Partner CAPITAL FINANCE / E * FRANCE Media GROUPE LES ECHOS/LE PARISIEN EARLYBIRD VENTURE CAPITAL GERMANY General Partner CAPVIS SWITZERLAND General Partner * EARLYMETRICS FRANCE Association Corporate * CAPZANINE FRANCE General Partner EASTINWEST SWITZERLAND Limited Partner CARAVELLE FRANCE Limited Partner EBRD UNITED KINGDOM Limited Partner * CATHAY CAPITAL FRANCE General Partner EDF FRANCE Limited Partner CEDRUS PARTNERS FRANCE Limited Partner EDMOND DE ROTHSCHILD FRANCE Business Service CERBERUS UNITED KINGDOM General Partner CORPORATE FINANCE * CEREA PARTENAIRE FRANCE General Partner EDMOND DE ROTHSCHILD FRANCE General Partner * CFI FRANCE FRANCE Business Service EQUITY STRATEGIES (ERES) * CFI GERMANY GERMANY Business Service EDMOND DE ROTHSCHILD * FRANCE General Partner * CFI NETHERLANDS NETHERLANDS Business Service INVESTMENT PARTNERS * CFI UK UNITED KINGDOM Business Service * EFRONT FRANCE Business Service * CFNEWS FRANCE Media * EIGHT ADVISORY FRANCE Business Service CHINA GAOXIN INVESTMENT GROUP CORP CHINA Limited Partner * ELEVEN STRATEGY FRANCE Business Service

IPEM Preview /// January 24-26, 2018 - Cannes (France) 19 24, 25, 26 JANUARY 2018 PALAIS DES FESTIVALS - CANNES - FRANCE

As of November 30, 2016 * Exhibiting companies

COMPANY NAME COUNTRY ACTIVITY COMPANY NAME COUNTRY ACTIVITY

ELM CAPITAL UNITED KINGDOM General Partner FIVE TREES FRANCE Business Service EMISYS CAPITAL ITALY General Partner FONDO ITALIANO D'INVESTIMENTO ITALY Limited Partner ENOVOS LUXEMBOURG LUXEMBOURG Corporate / Business Entrepreneur FPI - FONDATION PROSPECTIVE * FRANCE Institution / Association * EQUITIS FRANCE General Partner ET INNOVATION ERIC SALMON & PARTNERS FRANCE Business Service * FTI CONSULTING FRANCE FRANCE Business Service * ESSLING CAPITAL FRANCE General Partner * FTI CONSUTLTING UNITED KINGDOM Business Service * EURAZEO FRANCE General Partner FUSIONS ET ACQUISITIONS FRANCE Media * EURAZEO PME FRANCE General Partner EUROPEAN INVESTMENT BANK LUXEMBOURG Limited Partner G EUROPEAN INVESTMENT FUND LUXEMBOURG Limited Partner GENERAL ORIENTAL INVESTMENTS SWITZERLAND Limited Partner EVERBRIGHT BANK CHINA Business Service GIMD FRANCE Limited Partner * EY FRANCE Business Service GLENNMONT PARTNERS UNITED KINGDOM General Partner * EY BELGIUM Business Service GOLDING CAPITAL PARTNERS GERMANY Fund of Funds * EY NETHERLANDS Business Service * GORDON S. BLAIR LAW OFFICES MONACO Business Service * EY LUXEMBOURG Business Service GRAVITATION FRANCE General Partner GREENHILL & CO UNITED KINGDOM Business Service F FCDE FRANCE General Partner H FIDUCIARY CO-INVESTMENT PARTNERS UNITED KINGDOM Limited Partner HALSEY GROUP SARL LUXEMBOURG Other FINANCE INNOVATION FRANCE Association Corporate HAMILTON LANE UNITED KINGDOM Fund of Funds * FITCH RATINGS FRANCE Other HEADWAY CAPITAL PARTNERS UNITED KINGDOM Fund of Funds * FITCH RATINGS UNITED KINGDOM Other HERMES GPE UNITED KINGDOM Fund of Funds

68,000 6,000 1,400 1,500 103 ATTENDEES STARTUPS INVESTORS JOURNALISTS COUNTRIES

INVESTOR RELATIONS CONTACT: CHARLOTTE SARRAN CSARRAN VIVATECHNOLOGY.COM

20 IPEM Preview /// January 24-26, 2018 - Cannes (France) REGISTERED COMPANIES as of 24/11/2017

* Exhibiting companies

COMPANY NAME COUNTRY ACTIVITY COMPANY NAME COUNTRY ACTIVITY

* HIG EUROPEAN CAPITAL PARTNERS FRANCE General Partner M * HL TRAD FRANCE Other MAGICAL CAPITAL ISRAEL General Partner HOLLYPORT CAPITAL UNITED KINGDOM General Partner * MANDARIN CAPITAL MANAGEMENT ITALY General Partner HQ EQUITA GERMANY General Partner MARCUARD FAMILY OFFICE SWITZERLAND Limited Partner HSBC FRANCE Business Service MBO PARTENAIRES FRANCE General Partner * MEDEF FRANCE Association Corporate I MERGERMARKET FRANCE Media IBIONEXT FRANCE General Partner MERIEUX DEVELOPPEMENT FRANCE Limited Partner IDI EMERGING MARKETS LUXEMBOURG Fund of Funds MOJO CAPITAL LUXEMBOURG Limited Partner * IDIA FRANCE General Partner MONTANA CAPITAL PARTNERS SWITZERLAND General Partner * IDINVEST PARTNERS FRANCE Fund of Funds MONTE CARLO CAPITAL MONACO Limited Partner * IGI ITALY General Partner MONUMENT GROUP EUROPE UNITED KINGDOM Business Service ILPA CANADA Institution / Association INFRACAPITAL UNITED KINGDOM General Partner N INFRARED CAPITAL PARTNERS UNITED KINGDOM General Partner NAXICAP FRANCE General Partner * INNOVACOM FRANCE General Partner NEUBERGER BERMAN UNITED KINGDOM Limited Partner INSTIT INVEST FRANCE Media * NEUFLIZE OBC FRANCE Business Service INVESTCORP UNITED KINGDOM General Partner NEVASTAR FINANCE UNITED KINGDOM Limited Partner * INVEST CORPORATE FINANCE FRANCE Business Service * NEXTSTAGE FRANCE General Partner * ISATIS CAPITAL FRANCE General Partner NG FINANCE FRANCE Business Service ISOMER CAPITAL UNITED KINGDOM Limited Partner NIPPON LIFE GLOBAL INVESTORS EUROPE UNITED KINGDOM Limited Partner IULIA INVEST BELGIUM Limited Partner NORD HOLDING GERMANY Fund of Funds * IXO PRIVATE EQUITY FRANCE General Partner NORGESINVESTOR NORWAY Fund of Funds J NVP NETHERLANDS Institution / Association JINYAN CAPITAL CHINA General Partner O JOHN HANCOCK FINANCIAL SERVICES / OBVIAM MANULIFE USA Limited Partner SWITZERLAND Fund of Funds OCTOPUS VENTURES UNITED KINGDOM General Partner JOKLAR-VERDBREF ICELAND Limited Partner OLIVER WYMAN UNITED KINGDOM Business Service * JPA INTERNATIONAL FRANCE Business Service * OMNES CAPITAL FRANCE General Partner JZ INTERNATIONAL UNITED KINGDOM General Partner ONTARIO TEACHERS' PENSION PLAN UNITED KINGDOM Limited Partner KFW GERMANY Fund of Funds OPENOCEAN FINLAND General Partner KINGS PARK CAPITAL UNITED KINGDOM General Partner OPTRUST CANADA Limited Partner KKR UNITED KINGDOM General Partner OXX UNITED KINGDOM General Partner KREAXI FRANCE General Partner OYST UNITED KINGDOM Corporate / Business Entrepreneur L P LÆGERNES PENSION DENMARK Limited Partner PAI PARTNERS FRANCE General Partner * LBO FRANCE GESTION FRANCE General Partner PALICO FRANCE Media LDC UNITED KINGDOM Other PANTHEON VENTURES UNITED KINGDOM Fund of Funds LESARA GERMANY Corporate / Business Entrepreneur PARTNERS GROUP SWITZERLAND General Partner LETUS PRIVATE OFFICE FRANCE Limited Partner PARVILLA INVESTISSEMENTS FRANCE Fund of Funds LGT CAPITAL PARTNERS SWITZERLAND Fund of Funds PAUL CAPITAL FRANCE FRANCE Fund of Funds LION ASSET MANAGEMENT CHINA General Partner PINEBRIDGE INVESTMENTS EUROPE UNITED KINGDOM Fund of Funds LIS-AIFM LUXEMBOURG Business Service PIONEER POINT PARTNERS UNITED KINGDOM General Partner LLOYD FAMILY OFFICE UNITED KINGDOM Limited Partner * PIROLA CORPORATE FINANCE ITALY Business Service LOCKHEED MARTIN INVESTMENT MANAGEMENT UNITED STATES Limited Partner POMONA CAPITAL UNITED KINGDOM Fund of Funds LOMBARD ODIER SWITZERLAND Limited Partner PORTFOLIO ADVISORS SWITZERLAND Fund of Funds LONDON BUSINESS SCHOOL UNITED KINGDOM Corporate / Business Entrepreneur * PORTOBELLO CAPITAL SPAIN General Partner * LPA-CGR AVOCATS FRANCE Business Service PRAGMA CAPITAL FRANCE General Partner * LPEA LUXEMBOURG Institution / Association * PREQIN UNITED KINGDOM Business Service LUCION VENTURE CAPITAL CHINA General Partner PRIVATE EQUITY MAGAZINE FRANCE Media * PROCADRES FRANCE Business Service

IPEM Preview /// January 24-26, 2018 - Cannes (France) 21 24, 25, 26 JANUARY 2018 PALAIS DES FESTIVALS - CANNES - FRANCE REGISTERED COMPANIES as of 24/11/2017

As of November 30, 2016 * Exhibiting companies

COMPANY NAME COUNTRY ACTIVITY COMPANY NAME COUNTRY ACTIVITY

Q THE CARLYLE GROUP ITALY General Partner QUADRIGA GERMANY General Partner THE CARLYLE GROUP UNITED KINGDOM General Partner QUADRIVIO GROUP ITALY General Partner THE VENTURE CAPITAL MANAGEMENT CHINA General Partner QUILVEST PRIVATE EQUITY UNITED KINGDOM Fund of Funds * TIKEHAU CAPITAL FRANCE General Partner TIMES 3 CAPITAL UNITED KINGDOM Limited Partner R TRISPAN UNITED KINGDOM General Partner CMS_LawTax_CMYK_28-100.eps RBC INVESTOR SERVICES BANK FRANCE FRANCE Business Service * TROCADERO CAPITAL PARTNERS FRANCE General Partner RIAM ALTERNATIVE INVESTMENTS GERMANY Limited Partner * TRUFFLE CAPITAL FRANCE General Partner RIVERSIDE UNITED KINGDOM General Partner * TURENNE CAPITAL FRANCE General Partner ROBECO NETHERLANDS Fund of Funds TYRUS CAPITAL MONACO Limited Partner ROTHSCHILD & CO FRANCE Limited Partner * ROTHSCHILD TRANSACTION R FRANCE Business Service U RWB GROUP GERMANY Fund of Funds * UBIQUS FINANCE JURIDIQUE FRANCE Other * UFENAU CAPITAL PARTNERS SWITZERLAND General Partner S * UI GESTION FRANCE General Partner * S&P GLOBAL MARKET INTELLIGENCE UNITED KINGDOM Business Service UNIGESTION SWITZERLAND Fund of Funds S. K. MANAGEMENT - UND BETEILIGUNGSGERMANY Limited Partner UPSIDE EQUITY ADVISORY GERMANY Limited Partner SAFRAN CORPORATE VENTURES FRANCE General Partner UTIMCO UNITED STATES Limited Partner SCORIMAR - MARCEAU GROUPE FRANCE Limited Partner SCOTTO & ASSOCIES FRANCE Business Service V SEAYA VENTURES SPAIN General Partner VALTUS FRANCE Business Service SELIGMAN PRIVATE EQUITY SELECT UNITED KINGDOM Limited Partner VENCAP INTERNATIONAL UNITED KINGDOM Fund of Funds SERENA CAPITAL FRANCE General Partner VIBRO PRIVATE EQUITY GERMANY Limited Partner SIAGI FRANCE Limited Partner VOLPI CAPITAL UNITED KINGDOM General Partner * SIPAREX GROUPE FRANCE General Partner SIGULER GUFF CHINA Fund of Funds W SIGULER GUFF UK UNITED KINGDOM Fund of Funds WEIGHT PARTNERS CAPITAL UNITED KINGDOM General Partner * SILVERFLEET CAPITAL PARTNERS UNITED KINGDOM General Partner WELLINGTON PARTNERS GERMANY General Partner * SILVERPEAK UNITED KINGDOM Business Service WILLKIE FARR & GALLAGHER FRANCE Business Service SIMMONS & SIMMONS FRANCE Business Service WILSHIRE ASSOCIATES NETHERLANDS Limited Partner * SIMON ASSOCIES FRANCE Business Service SJF PARTNERS UNITED KINGDOM Limited Partner X SOBERA CAPITAL GERMANY General Partner * XANGE FRANCE General Partner SOCIETE DES SUCRERIES XENON PRIVATE EQUITY ITALY General Partner DU MARQUENTERRE FRANCE Corporate / Business Entrepreneur * SODICA FRANCE Business Service Y SOFINNOVA FRANCE General Partner YIELCO INVESTMENT GERMANY Fund of Funds STAGS PARTICIPATIONS FRANCE Limited Partner STAKEHOLDER ADVISORS FRANCE Business Service Z STARWOOD CAPITAL UNITED KINGDOM General Partner ZHONG KONG GUO LIAN CAPITAL CHINA General Partner STATION12 UNITED KINGDOM General Partner STEEL & HOLT FRANCE Business Service STEPHENSON HARWOOD AARPI FRANCE Business Service STEPSTONE GROUP UNITED KINGDOM Fund of Funds SWANCAP GERMANY Fund of Funds SWEN CAPITAL PARTNERS FRANCE Fund of Funds SWISS CODE INVESTMENTS SWITZERLAND Limited Partner SYPERUS FINANCES FRANCE Business Service T TAJ - DELOITTE FRANCE Business Service TERRA FIRMA CAPITAL PARTNERS UNITED KINGDOM General Partner TERTIUM INVESTMENT FRANCE General Partner

22 IPEM Preview /// January 24-26, 2018 - Cannes (France) USEFUL INFORMATION

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Ardian is an independent private investment house which offers its investors a diversified choice of funds covering the full range of asset classes.

We strive to deliver quality investment performance from the US$66bn of assets we manage or advise for clients. We do this with a relentless focus on generating returns that are durable and sustainable in the long term. The value created and results achieved are shared with our investors, but also our partners, investee companies and their employees. That makes a difference. more information on www.ardian.com , 2017, Ardian has $66bn of assets under management has $66bn of assets Ardian , 2017, th

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