Luxembourg in the center of HLD Group’s European ambitions

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Luxembourg in the center of HLD Group’s European ambitions

LPEA Insight/ Out | Issue 1, February 2018

Robert Dennewald, Anne Canel, Jean-Bernard Lafonta, Jean-Philippe Hecketsweiler and Xavier Buck.

HLD Group is a French investment firm founded in 2010 providing long-term financing to French and European companies and managing today in excess of EUR700 million. With an atypical investor base as well as investment horizon, HLD made the decision, early in its history, to turn to Luxembourg to support its European ambitions. Let’s come back on the why and how with HLD Group’s CFO Anne Canel and two iconic Luxembourg entrepreneurs acting as independent directors in HLD’s investment vehicle, Robert Dennewald and Xavier Buck.

Interview conducted by Arnaud Bon, Member of LPEA’s Promotion Committee and Director at Deloitte.

A Case in Action – Governance tips

  • Double-headed management structure with a board of directors and a supervisory board
  • Balanced composition in the board
  • Monthly board meetings with a standard agenda covering all relevant dimensions of the investment vehicles
  • Board pack shared sufficiently in advance to allow a proper review and preparation by board members
  • Sufficient board meeting duration
  • Mutual professional respect between members to accept “no” as an answer or dare say “no”

We have all the substance we should have in Luxembourg but wanted to make sure we also had the adequate governance at the level of our investment vehicle.

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