PARIS
Fund Manager / Analyst Tocqueville Finance, Paris
February 2007 – Present
Co-manager of Tocqueville Value Europe (a EUR 100m all-cap, all sector, fundamental-driven value fund) since 01/08.
A-rated fund manager by Citywire for risk adjusted returns.
Tocqueville Value Europe is an equity fund that invests companies with strong business franchises and strong balance sheets that are down in price, out of favor and trading at a substantial discount to intrinsic value. Stock selection is bottom-up, based on intensive proprietary research and a disciplined investment process. The portfolio typically contains 50-65 positions which include stocks with a wide range of capitalization.
The fund is ranked 2nd among 67 funds in its category over the decade to March 31 2010 gaining 31.6% and posting below market volatility versus the MSCI Europe index which lost 34.5% over the same period.
Founded in 1991 Tocqueville is a long-only, value boutique with EUR 1.8Bn under management.
Distressed Debt Investor, WestLB, Paris
June 2003 – September 2006
Associate Director, Special Investments Group
Member of one of the most experienced & long standing teams in the european distressed market. We made proprietary investments in distressed financial assets across the capital structure (debt / equity), in the bond market (high yield / convertibles) and in bank loans (leveraged / corporate).
Responsibilites included transaction origination, fundamental analysis on valuation of collateral, business plan due diligence, cash flow modeling, identification of exit strategy, negotiation with borrowers / other lenders in restructuring etc.
Distressed investing is a form of activist, event-driven, value investing.
Telecoms Banker Edit Citigroup, Paris
February 2002 – June 2003
Financial restructuring of struggling telecoms equipment supplier post TMT bubble.
Chemicals & Pharma Banker Edit Citigroup, Frankfurt
January 1999 – February 2002
Responsible for credit analysis, credit extension & origination of corporate finance transactions.
Junior Transactor, Structured Finance / Financial Engineering Edit Citigroup, Dublin
September 1996 – December 1998
Structured tax and accounting-sensitized corporate finance solutions for multinational clients
Major transactions included tax-based leases of corporate real estate as well as a structured funding for an Irish Utility
