Gide’s managing partner between 2012 and 2020, Stéphane Puel heads the Investment Funds & Asset Management team. He advises French and international financial institutions on all regulatory matters, and in particular on structuring, setting up, documenting and distributing regulated and non-regulated French and foreign law open-end and closed-end investment funds, such as hedge funds, REITs, private equity funds, infrastructure funds and distressed debt funds.
Stéphane is in regular contact with the French Financial Markets Authority (AMF) on all matters relating to licensing management companies, setting up investment funds, and distributing French and foreign investment funds and structured products.
Stéphane also advises these entities on the conduct of business rules applicable to them and assists them with court or disciplinary proceedings linked to their activity. He is a member of the Gide team which assisted the ASPIM since 2004 on the revamping of the regulations applicable to French real estate funds (OPCI).
He regularly publishes articles in professional reviews in France and abroad and frequently speaks at seminars on asset management and UCITS. He is the joint author of the "Investment funds" chapter in the Répertoire Commercial Dalloz and the co-author of a book on asset management in France (to be released). He also writes a column on asset management in the Revue Trimestrielle de droit financier.
Stéphane Puel is a member of the permanent commission on "Asset Management and Institutional investors" at the AMF; the French High Legal Committee for the Paris Finance Marketplace (Haut Comité Juridique de la Place Financière de Paris); the legal committee of France Invest (French venture capital association); and of the Tax, Legal & Regulatory Committee of the European Private Equity & Venture Capital Association (EVCA). He has also participated in the creation of the Association Française pour la Gestion des Cybermonnaies (AFGC), created in July 2017.
Stéphane Puel is recommended as Leading Individual in Banking & Finance: Regulatory and Financial Services in Legal 500 (since 2014), Leading Lawyer in IFLR1000, and in Private / Investment Funds in Who's Who Legal and Best Lawyers in France since 2017.
« The 'extremely reactive' team at Gide Loyrette Nouel provides 'pragmatic advice' and, 'due to its expertise, network and capacities', provides a 'one-stop shop' approach, which is 'a strong asset'. The group also impresses with its 'technical expertise and creativity' and fields a varied funds practice, ranging from private equity and venture funds to real estate funds, infrastructure funds, debt funds and UCITS funds. Managing partner Stéphane Puel, who 'provides tailor-made and business-oriented advice', and the 'very responsive' Ann Baker, known for her 'great knowledge of international standards', lead the team. »
Legal 500 EMEA 2019
« Stephane Puel advises various investors on domestic and cross-border fund structuring matters spanning the infrastructure, real estate and insurance spaces. He is singled out by interviewees for being 'pragmatic, efficient and innovative.' »
Chambers Europe 2019
« Gide Loyrette Nouel offers strong contentious and non-contentious expertise, with corporate support work making up a third key pillar of the practice. The group also boasts an innovation and fintech desk to assists start-ups and established players alike with the regulatory issues at the intersection of technology and financial services. Jean-Guillaume de Tocqueville, who co-directs the practice with managing partner Stéphane Puel, advised Kepler Chevreux on regulatory issues relating to the acquisition of 28% of its share capital by Atlas Merchant Capital Fund and Edmond de Rothschild. »
Legal 500 EMEA 2019 | Bank Regulatory
« Gide Loyrette Nouel ‘has an excellent bank regulatory department’ and provides ‘excellent service and business knowledge’. Stéphane Puel and Jean-Guillaume de Tocqueville, who impress with their ‘in-depth knowledge of regulatory matters’ and their ‘excellent contacts with regulators’, jointly head the practice. Their combined expertise includes banking, investment services and investment management regulations; fund-related regulatory matters (including issues concerning regulated and non-regulated French funds); infrastructure and distressed debt funds; business rules; and experience in acting for clients in disciplinary procedures and litigation. Highlights included advising China’s fifth-largest commercial bank, Bank of Communications, on the establishment of the Paris-based office of its Luxembourgian subsidiary; assisting Amundi Asset Management with setting up an investment platform dedicated to Coface, a leading insurance company; and handling the establishment of a new investment firm focused on equity trading in France for Morgan Stanley. Kepler Cheuvreux, Lombard Odier Europe and HSBC are also clients. »
Legal 500 EMEA 2018
« Outstanding private equity team with particular focus on venture capital and fund-raising, acting for both investors and companies. Recognised for its expertise in the technology sector. Also noted for its leading practice in fund formation matters including private equity, real estate and infrastructure funds. Clients appreciate the team's 'really quick and good understanding of who we are and our constraints.' Sources value the provision of 'the multi-expertise of a one-stop shop and the follow-up on all subjects by a single team.' Acted for Omnes Capital on the structuring of a EUR100 million fund dedicated to investment in high environmental performance buildings. Assisted Partech Ventures with the formation of the Paris-Saclay Seed Fund, designed for investment in technology and service start-ups by students, graduates and researchers of Paris-Saclay University. Admitted to the Paris and New York Bars, Ann Baker specialises in fund formation, fund structuring and regulatory issues. Clients appreciate the quality of her 'strategic advice' when advising sponsors or investors, including on multi-jurisdictional mandates. Stephane Puel joins the rankings as a result of positive market feedback. He focuses on setting up and structuring private equity, real estate and debt funds. Sources note his 'availability, serenity and sense of risk.' »
Chambers Europe 2018
« The ‘truly transaction-oriented’ Gide Loyrette Nouel ‘always delivers an outstanding level of service’, with ‘a great response in terms of time, substance and general guidance’ and, according to one client, has ‘by far the best mix of technical expertise and practical experience among asset management lawyers’. The team ‘knows the industry in France, Europe and North Africa’ and is considered ‘a trendsetter with a reliable global network’ as well as ‘a great partner for long-term matters as it provides stability’. The fund formation practice is part of the firm’s wider investment management department, and it advises sponsors and investors on private equity funds and other private funds. The team’s workload is largely domestic, although Ann Baker, who co-heads the practice with Stéphane Puel, is also admitted to the New York bar. The ‘very-well connected’ Puel ‘has an in-depth knowledge of the asset management industry in all regulatory aspects and from a business standpoint’ and is ‘a sharp-witted strategist’ and ‘key influencer in asset management and finance regulation in France’. »
Legal 500 EMEA 2018
« Stéphane Puel is ‘highly recommended for his commitment and skills, and is one of the best lawyers in France for investment funds’. »
Legal 500 EMEA 2018
« Stéphane Puel is ‘an expert in asset management who provides fine analysis’. »
Legal 500 EMEA 2017
« Head of the investment fund and asset management group Stéphane Puel draws high praise from international sources for his exceptional work in the area. He regularly advises clients on the whole gamut of private fund matters from structuring and setting up, to documentation and fund distribution. »
Who's Who Legal Private Funds in France 2017