" Private Equity and Syndication Strategies: The Case of France"

This paper analyzes the syndication strategies of French private equity firms and compares them with those of their European and North American counterparts. Syndication is a strategy that helps investors improve their performance, for instance by sharing risk or by adding value to enterprises. The paper shows that the motives for syndication vary depending on the stage of development of the enterprise financed but also depending on the type of private equity firm. This in-depth examination of the syndication choices of French private equity firms, compared with those of firms based in the United States, seems to reveal a degree of specialization by the French private equity industry.