FFP_REGISTRATION_DOCUMENT_2017

5

FINANCIAL STATEMENTS

Parent-company financial statements

The presentation of Net Asset Value having changed, private equity funds are now broken down by type, and co-investments are reported separately from private equity funds. The reclassification of gross values at the start of the period is summarised in the table below.

Leverage buyout funds

Expansion funds

Real-estate funds

Other funds

Total

(in thousands euros)

LBO funds

12,155

-

-

- -

12,155 20,591

Emerging-market funds

-

20,003

588

Other funds

305

77

-

80 80

462

TOTAL PRIVATE EQUITY FUNDS

12,460

20,080

588

33,208

11.3 ESTIMATED VALUES OF PORTFOLIO INVESTMENT SECURITIES AND OTHER LONG-TERM INVESTMENTS

Amounts at beginning of period

Amounts at end of period

Carrying amount

Carrying amount

Estimated value

Estimated value

Composition of the portfolio (in thousands euros)

Gross

Net

Gross

Net

Leverage buyout funds

12,460 20,081

12,460 17,449

23,037 29,793

15,022 18,057

15,022 15,367

27,686 25,265

Expansion funds Real-estate funds

588

588

4,235

-

-

3,833

Other funds

80

30

30

69

23

23

Total private equity funds

33,209

30,526

57,095

33,148

30,412

56,807

Co-investments

7,899 7,899

154 154

154 154

- -

- -

- -

Total co-investments

Other

19,543 19,543 60,651

19,507 19,507 50,187

19,683 19,683 76,932

19,536 19,536 52,684

19,536 19,536 49,948

34,357 34,357 91,164

Total other investments

TOTAL PORTFOLIO INVESTMENT SECURITIES

Security deposit

627

627

627

540 274 814

540 274 814

540 281 821

49

49

51

Liquidity agreement (Note 13)

TOTAL OTHER LONG-TERM INVESTMENTS

675

675

677

TOTAL

61,326 50,863 77,609 53,498 50,763 91,985

184

FFP

2017 REGISTRATION DOCUMENT