Month: September 2025

Joffe & Associés advised Impact Partners on the fundraising of its fund, Impact Growth V, dedicated to European social investment. The fund, targeting €400 million, has already secured over €160 million at its first closing.

Managed by Impact Partners, Impact Growth V invests in profitable European companies with a proven social impact, particularly in healthcare access, training, and the circular economy. It has already completed two international investments: Tekman in Spain and Carelink in Denmark.

Distinguished by its originality and clear ambitions, the fund is structured as a Société de Libre Partenariat (SLP) and classified as an Article 9 fund under the SFDR regulation. With a target IRR of 15–19%, Impact Growth V embodies a new generation of funds that reconcile performance and impact, firmly anchored in Europe’s major social challenges.

Joffe & Associés, through its Fund Structuring / Asset Management Department led by partner Olivier Dumas, advised Impact Partners on the legal, regulatory, and tax aspects of fund structuring and its marketing in France and abroad.

Joffe & Associés advised Hygie31, a leading player in the pharmaceutical market, on its strategic merger with Pharm’Auvergne, a pharmacy network established in 2018.

Pharm’Auvergne brings together 70 pharmacies with a turnover of €90 million. By joining the Hygie31 ecosystem, the regional network now gains access to the Group’s full range of services: the HygieStore supply platform, HygieAcademy training programs, over 150 exclusive brands, intelligent management tools, comprehensive operational support, negotiated agreements, and the Hygie31 Club.

This strategic alliance strengthens Hygie31’s footprint across French regions and further consolidates its nationwide network of pharmacies. The Group now brings together 1,850 pharmacies in France and Spain, enhancing its influence with laboratories and within the markets. In doing so, Hygie31 continues to pursue its mission of supporting independent pharmacists and making healthcare accessible to all through reinforced territorial coverage, particularly in the Auvergne region.

Joffe & Associés advised Hygie31 on all corporate aspects, with a team led by partners Christophe Joffe and Camille Malbezin, alongside associate Alexia Guyot.