Who are we?

A management company approved by the Autorité des marchés financiers since 2014, France Valley specializes in real estate investment and usufruct investment in real estate funds, applying the highest standards of asset management: asset selectivity and management, management of investment vehicles, investor information, back office and internal control. To achieve this, our team is made up of management professionals from portfolio management companies, accompanied by sector specialists. Everyone is at your disposal, so don’t hesitate to contact us.

Our approach

France Valley applies the best standards in the field of asset management to land and real estate investment solutions, both in terms of selectivity, management, investor information, back-office and internal control.​ ​ Since its creation, France Valley has intended to offer specific investment solutions providing clients with real diversification of their assets as well as a search for performance with controlled volatility. ​ ​ Relying on nearly 70 subcontractors all over Europe, France Valley has a regular flow of high-quality files. It is within this deal-flow, French and European, that the investment team selects assets for their ability to generate long-term returns and long-term valuation potential. In the same way as if it were listed assets, France Valley favors a high degree of diversification within the real estate portfolios (by business sector, by geographical area, by investment period, etc.) and managed land (species, regions, maturities, etc.).​

Core strategy

Land assets are an asset class among others, but not like others. As such, they deserve the implementation of rigorous and standardized processes. The France Valley team is mainly made up of investment specialists (private equity, real estate, equities, etc.) but also forestry and vineyards specialists.​ ​ Because we operate on ring-fenced assets and because demand remains structurally greater than supply, it is necessary to carry out precise appraisals of the properties offered for sale and to measure all their potential for appreciation.​ ​ In addition, France Valley is fully aware of intervening in highly strategic sectors with regard to major ecological issues. This is why we attach decisive importance to sustainable development issues. Fragile assets, because natural, forests and vineyards are the subject of a reasoned approach favoring sustainable operating methods. Thus, when it comes to replacing stands, for example, we work in a coordinated manner with forest operators so as to opt for choices of species capable of adapting to global warming by favoring, when conditions allow , irregular forestry. Similarly, in the context of wine investments, France Valley favors terroirs that meet the standards of High Environmental Value.

Our commitments​

PEFC

The Programme for the Endorsement of Forest Certification schemes (PEFC) is an international forest certification organisation created in 1999 to promote sustainable forest management worldwide. The PEFC label certifies forests through standards that apply to forest owners, operators and companies in the forest-wood-paper industry for sustainable forest management and wood traceability. In 2017, a flaw was revealed in Cash Investigation: PEFC had mistakenly labelled organisations outside its field of competence. As a result, the organisation tightened its membership conditions.

FSC

The Forest Stewardship Council (FSC) is an international NGO whose mission is to promote the ecological, social and economic management of forests. The FSC, which is regarded as both an eco-label and a socio-environmental label, provides users with tools to promote responsible forest management.

ASFFOR

ASFFOR (Association des Sociétés et Groupements Fonciers et Forestiers) is a trade association set up in 1983 on the initiative of France’s leading financial institutions. Today, it brings together agricultural and forestry companies and groupings set up by banks, financial institutions, insurance companies and management companies either on their own behalf or on behalf of their customers, private individuals or institutional investors.

FRANCE INVEST

France Invest is a professional organisation bringing together more than 400 French management companies and nearly 180 advisory firms. France Invest strongly promotes their work in supporting unlisted companies and their central role in a vibrant economy. France Invest’s members enable institutional investors and private savers alike to support growing businesses and finance infrastructure that improves the lives of the French people. As a forum for discussion, reflection and the promotion of best practice within the financial ecosystem, France Invest particularly supports the initiatives of its members and those of the companies they support in favour of job creation and the transition to more sustainable and fairer growth.

GREENFIN LABEL

Created by the Ministry, the Greenfin label guarantees the green quality of investment funds and is aimed at financial players who act in the service of the common good through transparent and sustainable practices. The label is unique in that it excludes funds that invest in companies operating in the nuclear and fossil fuel sectors.

PRI

Principles for Responsible Investment (UNPRI or PRI) is a United Nations-supported international network of financial institutions working together to implement its six aspirational principles, often referenced as “the Principles”.[1] Its goal is to understand the implications of sustainability for investors and support signatories to facilitate incorporating these issues into their investment decision-making and ownership practices. In implementing these principles, signatories contribute to the development of a more sustainable global financial system.

LABEL BAS CARBONE

The Low-Carbon Label, launched by the government in 2019, enables projects to reduce greenhouse gas emissions and carbon sequestration in all sectors (forestry, agriculture, transport, construction, waste, etc.) to be certified and economically valued. Adopted in 2019 to meet the climate objectives of the National Low-Carbon Strategy (SNBC), the Low-Carbon Label is the first voluntary climate certification framework in France. It guarantees that carbon reduction or sequestration projects carried out in France make a correct and transparent contribution to achieving the targets, using credible and verified methods for accounting for greenhouse gas (GHG) emissions.

NOVETHIC

Novethic’s analysis offers insights into the dynamics and characteristics of sustainable funds incorporating ESG criteria and the orientations of players in the responsible investment (SRI) market in Europe.

Carbon Impact Investing​

Aware of working on a natural asset, the France Valley teams rely on a rigorous and standardized methodology to precisely measure the positive impact of the forestry investments made. To this end, they have developed the Forest Carbon Index.

ICF® 2020 GFI FRANCE VALLEY PATRIMOINE :​

Captured Carbon​

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4 832 130 Teq CO2

Avoided Carbon​

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28 146 Teq CO2

Stored Carbon​

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7 594 Teq CO2

Total

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4 867 870 Teq CO2

Biodiversity​

Impact Investing​

Measured Impact​

Protect and develop the capacity to accommodate biodiversity (when they exist, promote the maintenance of dead trees of various species on the ground and off the ground, regularize the heights of the stands present which are available to these birds of different natures , promote the maintenance of “habitat” trees with, for example, cavities, maintain wetlands to prevent them from drying out, etc.).

Protect soils activity (avoid the clearing and storage of logging residues in line before reforestation, force logging machinery to circulate only on the paths created inside the plots to avoid irremediable compaction phenomena, prohibit any exploitation when the soils are particularly sensitive during their thaw or heavy rainfall, limit the stripping of the soil by clear cuts favoring their erosion and the loss of the organic matter they contain.

Promote irregular management with continuous cover : this management aims to have trees of all ages and sizes coexist within the same forest plot by promoting natural regeneration through the development of young seedlings. The objective is to maintain a continuous forest cover and avoid resorting to clear cuts that impoverish biodiversity and soils.

Anticipate climate change (when the climate, soils and the market are suitable, diversify species during reforestation, maintain the microclimate within forests avoiding the creation of gaps in the cover, diversify investment locations within our funds)

Environmental and social considerations are at the center of France Valley’s activity, and at the center of its customers’ concerns, considering that the enhancement of forest heritage is considered over the long term and that its preservation from an environmental point of view in a local economic and social context is necessary. This is why all France Valley funds are evergreen funds : investors can stay as long as they wish and decide to hold it for future generations. Till now France Valley did not sell any forest, and the investor’s churn is less than 1% per year, equivalent of a 50 years average holding duration of their stake.

France Valley has developed a management rating, which is being tested in France in 2023, and can then be extended to its forests throughout the European Union.

It is based on the following criteria:

  • Measurement of surfaces placed in conservation areas
  • Certification of sustainable management by third parties
  • Surface managed in irregular high forest
  • Quantity of clear cuts
  • Measurement of the variety of species in reforestation
  • Measurement of minimally invasive reforestation techniques
  • Measurement of the impact of operations on forest landscapes
  • Measurement of the distance between the forest and its subcontractors
  • Monitoring the number of sales with lots for local buyers- Monitoring of the number of firewood sales to local consumers

Vineyards​

​ Among the land assets, the wine industry, in France, is essential and particularly in the Champagne area. It produces about 6% of wine volumes in France, but it represents 22% of exports in value. ​ ​ Champagne land represents 1% of the French vineyards area, but 21% in value. However, only 0.6% of the area is traded each year in Champagne and these transactions are not accessible to private investors. ​ ​ France Valley, Management Company approved by the AMF to operate in Champagne, selects the vineyards, valuates, negotiates, drafts the leases, monitors the farms and ensures the administrative, financial and tax management of the investing companies.​ ​ The knowledge acquired in the field and the quality of the service providers selected by France Valley also make it possible to anticipate the major challenges of this terroir without equivalent in the world: shift towards organic, strengthening of the Premiers and Grands Crus segment, weight of future demand from markets like China.

Our services​

​As an investment house, France Valley designs solutions that meet the different objectives of the main target customers. Thus, dedicated investment vehicles can be set up with regard to precise and constrained specifications, depending on the amounts considered.​ ​ Likewise, aware that land assets require specific knowledge, our team offers a range of training and interventions aimed at explaining our expertise and better understanding the characteristics of our offers. ​ ​ Finally, we have devoted a significant part of our IT developments to digitization projects in order to lighten the operational part and ensure compliance. In addition to fully dematerialized subscription, distributors and investors benefit from a complete Extranet allowing them to find all the key elements for monitoring their operations. ​ ​ France Valley provides investors with operational information (in the form of half-yearly bulletins and announcements of acquisitions), tax (Imprimé Fiscal Unique), social (annual reports, minutes of general meetings) and legal (articles of association, subscription certificates), which are easily accessible in their dedicated online space.

Key figures

Assets Under Management​

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4,2 billion

Date of inception​

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2014

Employees​

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40

European​ Subcontractors​

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70

Number of forests

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350 forests

Average forest size​

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145.4 ha

Real estate under management

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3.3 billion

Number of vineyards estates​

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37

France Valley forests

Team

Arnaud Filhol
Co-founder Managing Director
arnaud.filhol@france-valley.com
+33 6 85 57 11 28
fermer

Prior to joining France Valley, Arnaud co-founded La Société d'Investissement Forestier, where he was Managing Director.

A former auditor with Arthur Andersen before joining the Thalès group to take part in investment operations in technology companies, Arnaud then worked in private equity with Seventure (Natixis group) and then UFG Private Equity (La Française Asset Management group - €50 billion under management), where he became a Member of the Executive Board. In this capacity, he carried out venture capital, expansion capital and LBO transactions.

Arnaud is a graduate of ESC Toulouse.

profil

Arnaud Filhol

Co-founder Managing Director
Camille Constant
Sustainability manager
camille.constant@france-valley.com
+33 7 85 74 98 50
fermer

Camille began her career with a degree in Economics and Management at the University of Paris II Panthéon-Assas, followed by a Master 1 in Sustainable Development and Organizational Responsibility at the University of Paris Dauphine. During a gap year, she gained significant experience as an ESG analyst at Natixis TradEx Solutions and as Natural Capital Officer at WWF France. Her final year internship at CDC Biodiversité deepened her understanding of biodiversity-related financial risks and extra-financial regulations in France and Europe.

Today, as ESG Manager at France Valley, she applies her expertise to meet environmental and social challenges.

profil

Camille Constant

Sustainability manager
Thomas de Cointet
Head of European Forest Investment
thomas.decointet@france-valley.com
+33 6 83 33 59 31
fermer

Thomas has worked for over 20 years in the banking sector in structuring, financing and business development.
He started in 2003 at Dexia in Project Finance and then at Société Générale in Asset Finance with a particular focus on Italy, Brazil and Eastern Europe. He then joined the BRED Banque Populaire Group in 2011 to take over the management of FIPROMER, a subsidiary specialising in financial and tax advice and engineering, and a major operator in the field of financing for the French overseas territories.
In 2018, he created a new Partnership and New Business department to support the bank's new opportunities linked to the Open Banking "as a service" and "as a platform" models and growth relays with partners.

Thomas is a graduate of Ingénieur Civil des Mines.

profil

Thomas de Cointet

Head of European Forest Investment
Clément Roche
Head of Forest Investment
clement.roche@france-valley.com
+33 7 67 26 91 40
fermer

At France Valley, Clément works with general management to oversee the investment and forest management policies of the Groupements Forestiers.

Before joining France Valley, he was responsible for managing the forestry assets of members of the CFBL forestry cooperative. In particular, he was responsible for the northern part of Burgundy.

He was also in charge of land transactions for this area within the subsidiary Investissement Forestier et Patrimoine.

Clément is a graduate of Ecole des Barres (Forest Management) and holds a Master's degree in rural law and agribusiness from IHEDREA.

profil

Clément Roche

Head of Forest Investment
Hermine Latremouille
Forest Analyst Europe
hermine.latremouille@france-valley.com
+ 33 6 81 18 97 70
fermer

Hermine enriched her career path by completing a work-study program at HSBC in the Structured Finance team, focusing on investment. Prior to this, she gained significant experience during two six-month internships at Truffle Capital, one in the biomedical investment team and the other in the management company's finance department.

In parallel with her professional career, Hermine obtained a Bac Pro Agricole in 2023, followed by an MSc in International Finance at Rennes School of Business, completed by the Programme Grandes Écoles.

Today, she holds the position of European Analyst at France Valley.

profil

Hermine Latremouille

Forest Analyst Europe
Guillaume de Hédouville
Forest Analyst Europe
guillaume.dehedouville@france-valley.com
+ 33 6 07 27 98 85
fermer

Guillaume started out as a finance professional at Fédérale Finance, where he was introduced to the world of private debt and non-listed investments. He then consolidated his experience with a two-year position in infrastructure structured finance at Crédit Agricole CIB, developing a keen interest in financial modeling and investment monitoring.

Seeking social impact through his work, Guillaume then sought to join a company investing in assets with a positive impact on society, which led him to join the France Valley team.

Guillaume is a graduate of Edhec Business School, where he obtained a Master 1 in Business Management and a Master 2 in Corporate Finance. He also enriched his background with a summer program in Singapore.

profil

Guillaume de Hédouville

Forest Analyst Europe
Lucie de Mercey
Forest Management Europe
lucie.demercey@france-valley.com
+33 6 79 89 31 92
fermer

Lucie, a wood engineer with a degree from the École Supérieure du Bois, has developed in-depth expertise in forestry. Her career has included a variety of assignments, from forest management to leading marking teams, reforestation projects and forest appraisals. She has also contributed to audit and restructuring projects within the Comité des Forêts.

She joins France Valley as Head of European Asset Management.

profil

Lucie de Mercey

Forest Management Europe
Anne Raoul
Legal Manager
anne.raoul@france-valley.com
+33 6 07 27 52 22
fermer

Anne studied law in Paris and worked as an associate in various law firms. She then worked in various sectors, including real estate and audiovisual production. More recently, she joined France Valley, joining the investment team to manage purchasing, legal and administrative operations. She is a graduate of the professional training school of the Paris Bar.

profil

Anne Raoul

Legal Manager

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