PREMIUM HOTELS II
COMMERCIAL NOTICE. Investing involves risks, notably the risk of capital loss. The information provided is purely indicative and does not constitute a guarantee. Please refer to the Fund's regulatory documentation before making any investment decision.
FPCI HOTELS PREMIUM II* deploys a pan-European investment strategy based on the acquisition of hotel real estate and business assets in major metropolitan areas across the eurozone. The fund aims to build a portfolio of approximately 12 hotel SMEs, spanning the economy, midscale, and upscale segments, with a target holding period of around six years per investment.
At the core of the strategy is “premiumisation¹”: each acquired asset undergoes an active transformation — renovation, change of operator, upscaling — before being sold at attractive multiples. This value-creation approach, proven over more than fifteen years of track record, draws on a network of more than 80 European operators and partnerships with leading international brands.
¹”Premiumisation” of hospitality refers to the process by which a hotel, located in a prime location often within a high-demand real estate area, upgrades its services, amenities, and infrastructure to deliver a high-end experience, thereby justifying higher rates.
*Investing involves risk, including the risk of capital loss. The information presented is purely indicative and does not constitute a guarantee in any way.
(excluding entry fees)
*With possible extension of up to two one-year periods at the discretion of the Management Company, up to a maximum of 29 March 2035.
**Target IRR disclosed for indicative purposes only. It is neither contractual nor guaranteed and does not constitute any promise of return.
Investment in equity securities of unlisted companies or those providing access to capital involves specific risks.
The main risks are:
Capital Loss Risk
The FPCI does not offer any capital protection. Consequently, all or part of the initial capital invested may not be returned.
Liquidity Risk
The FPCI mainly invests in equity securities, or securities granting access to the capital of unlisted companies. As such, the Management Company may face certain difficulties disposinge securities within the desired timeframes and at expected price levels.
Risk related to the Lock-Up Period for Investors
Redemption requests for securities are not permitted during the FPCI’s investment lifetime, which may be extended twice by one year, at the discretion of the Management Company.
Risk related to insufficient diversification
The FPCI may not constitute a diversified portfolio of investments, whether in terms of sectors or geographies. As a result, underperformance by Portfolio Companies could have a material adverse impact on the overall performance of the FPCI.
Hospitality Risk
Investments made by the FPCI will be subject to risks inherent to the hotel sector, managed directly or indirectly by the Portfolio Companies. There is no guarantee regarding the performance of the hotel assets and, therefore, of the Portfolio Companies held by the Fund.
Sustainability Risk
Risk related to an environmental, social, or governance (ESG) event or condition which, if it occurs, could cause an actual or potential material negative impact on the value of the investment.
Tax benefits are presented based on current tax regulations and are subject to future changes. Please note that the risks listed above are not exhaustive.
To understand all risks, please refer to the Fund Rules.
SOPHISTICATED INVESTORS
We draw your attention to the fact that, pursuant to Article 423-49 I of the AMF General Regulation, units of FPCIs may only be subscribed to or acquired by investors falling within one of the following categories:
- Investors referred to in Article L.214-160 I of the French Monetary and Financial Code;
- Investors whose initial subscription is equal to or greater than €100,000.
- Investors, individuals or legal entities, whose initial subscription is at least €30,000 and who meet one of the following three conditions:
- a) they provide technical or financial assistance to unlisted companies within the Fund’s scope, with a view to their creation or development;
- b) they assist the Management Company of the FPCI in identifying potential investors or contribute to its objectives in connection with the sourcing, selection, monitoring or disposal of investments;
- c) they have experience in private equity, acquired either as direct equity investors in unlisted companies or as unitholders in funds such as a non-marketed FCPR, a professional specialised fund, a professional private equity fund, or a non-listed venture capital company;
Any other investors, provided that the subscription or acquisition is made on their behalf and for their account by an investment services provider acting within a portfolio management mandate, in accordance with Article L.533-13 I of the French Monetary and Financial Code and Article 314-11 of the AMF General Regulation.
Capitalised terms shall have the meaning given to them in the Fund Rules.
Fund’s main features
FPCI under French law reserved for Informed Investors and not subject to approval by the AMF. It may adopt investment rules that deviate from approved funds. For further details regarding fees and target IRR, please refer to the Fund Rules.
Professional Private Equity Fund (Fonds Professionnel de Capital Investissement – FPCI)
- Units A1: FR0014017Y52
- Units A2: FR0014017Y45
- Units D: FR0014017Y29
- Units A1 and A2: €100,000 (excluding entry fees)
- Units D: €500,000 (excluding entry fees)
- Entry fees,
- Recurring annual costs (including Management Company management fees), Performance Fee (carried interest/profit sharing).
Banque Fédérative du Crédit Mutuel
Tax treatment
The FPCI HOTELS PREMIUM II* is eligible under Article 150-0 B ter of the French General Tax Code, subject to a commitment to hold the units and compliance with current regulations.
1. TAX ADVANTAGES:
- Excluded from the Real Estate Wealth Tax (IFI) base.
- Eligible for Article 150-0 B ter of the French General Tax Code.
2. TRAITEMENT DE LA PLUS-VALUE :
For individuals:
- No tax on income or capital gains at maturity (excluding social security contributions).
For legal entities subject to Corporate Income Tax (IS):
- Distributed income is included in the taxable result.
- Capital gains at maturity are taxed according to the long-term capital gains regime (PVLT).
Subject to a commitment to retain units and current regulations. For more information regarding the FPCI’s tax status, please consult your advisor. Tax benefits are granted in exchange for the lock-up of units and the risk of capital loss.
Spain
Portugal
Greece
Germany
Netherlands
Italy
Belgium
