Stuart Fiertz, co-founder and president at $10bn London firm Cheyne Capital Management, discussed his firm’s post-2008 strategy shift and the outlook for alternatives on episode 9 of the AFI podcast.

Fiertz is one of the leading figures in the European alternatives industry, having co-founded Cheyne Capital with Jonathan Lourie in 2000. Since the financial crisis the firm has pivoted towards private credit and other areas of alternatives, while retaining a foothold in hedge.

Fiertz discusses his firm’s journey, the outlook for alternatives and markets, the state of ESG, UK politics and much else besides.

There are listen links below. Here is a listening guide to the episode:

1:47 – Cheyne’s development and strategy shift since the financial crisis.

3:50 – Favoured current opportunities

5:39 – The case for alternatives into 2023

7:38 – Will 60:40 losses spark inflows to alts?

9:05 – What risks are top of mind?

10:48 – US rates outlook

11:25 – Private credit – what are the risks?

13:25 – PC comparison to private equity

14:44 – Does HF industry still exist?

18:04 – SBAI development

19:33 – The case for ESG

21:59 – How have ops/recruitment changed?

24:28 – Future of Cheyne. Is there a succession plan?

26:00 – UK politics perspective

Read five key takeaways from the interview here: https://soundcloud.com/alternativefundinsight/episode-9-stuart-fiertz-on-cheynes-shift-uk-outlook-and-future-of-alternatives?utm_source=clipboard&utm_campaign=wtshare&utm_medium=widget&utm_content=https%253A%252F%252Fsoundcloud.com%252Falternativefundinsight%252Fepisode-9-stuart-fiertz-on-cheynes-shift-uk-outlook-and-future-of-alternatives

In this podcast episode from our Founder series, Poul Winslow (until recently Global Head of Capital Markets and Factor Investing at CPP Investments and an SBAI Trustee) is joined by SBAI Trustee Stuart Fiertz (President of Cheyne Capital – one of the founders of the SBAI) to look back at how it all started and how the industry is evolving. They discuss the SBAI, the case for alternatives, ESG and more.

https://www.sbai.org/resource/sbai-podcast-episode-6-founder-series-poul-winslow-and-stuart-fiertz.html

The winners of the inaugural Hedgeweek & Private Equity Wire European Credit Awards, which recognise excellence among private equity fund managers and service providers in Europe across a wide range of categories, have been announced.

Voting for the awards, which were presented at an exclusive ceremony and networking event today (28 September), at the Kimpton Fitzroy Hotel in London, was conducted via an online poll, where participants were asked to make their choice among the shortlisted firms in each category.

The manager award categories, which cover a wide spectrum of credit strategies and fund types, with separate sections for hedge fund and private equity credit specialists, while the service provider categories span essential services across the credit fund eco-system.

Pre-selection data for the manager awards was provided by Bloomberg, based on annualised returns over the 12 months from 31 May 2021 to 31 May 2022. 

For the service provider categories, the nominated firms were based on a widespread survey of more than 100 fund managers and other key industry participants. Nominations for these categories were based on performance over a 12-month period, from 31 May 2021 to 31 May 2022.

The winners are – 

Best Overall Performance Over $1 Billion: Debt – Loans/Credit – Crescent Capital Group LP (Crescent European Specialty Lending Fund II LP)

Best Overall Performance Under $1 Billion: Debt – Loans/Credit – Arcmont Asset Management (Blue Senior Loan Fund I)

Best Performance Over $1 Billion: Debt – Cheyne European Strategic Value Credit Fund I

Best Performance Under $1 Billion: Debt – Park Square Capital LLP (Park Square Capital Credit Opportunities III USD LP Inc)

Best Overall Performance: Debt – Mezzanine – Pemberton Capital Advisors LLP (Pemberton Strategic Credit Opportunities Fund II)

Best Overall Performance: Debt – Special Opportunity – Alchemy Partners

Best Credit Hedge Fund – Over $500 Million – Orchard Global

Best Credit Hedge Fund – Under $500 Million – SCIO Capital

Best Credit Hedge Fund – Multi-Strategy – Northlight European Fundamental Credit Fund

Best Credit Hedge Fund – Emerging Manager – Finserve Nordic AB (Nordic Factoring Fund AB)

Best Emerging Market Debt Hedge Fund – EMP2 (Black Stars Emerging Markets Fund)

Best Long/Short Credit Hedge Fund – Napier Park Global Capital US LP (Napier Park Eton Fund Ltd)

Best Credit Hedge Fund – Structured Credit – SCIO Capital

Best Overall Credit Manager – Hedge Fund – EBN Capital 

Best Overall Credit Manager – Private Equity – Alcentra Group Ltd

Best Overall Credit Fund – Hedge Fund – Enko Capital Management LLP (Enko Africa Debt Fund)

Best Overall Credit Fund – Private Equity – Hayfin Capital Management

Best Audit Service – PwC

Best Compliance Service – ACA Group

Best Custodian Service – MUFG

Best Cyber Security Firm – Options

Best Data and Information Provider – Advantage Data

Best Debt / Loan Administrator – Alter Domus

Best Fund Administrator – Private Credit – GLAS 

Best Fund Structuring Service – Appleby

Best FX Provider – MillTechFX by Millennium Global

Best Law Firm – Lending and Securities – Reed Smith

Best Managed Service Provider – RFA

Best Middle Office Services – Hazeltree Fund Services

Best Portfolio Management System – Virtus from FIS

Best Ratings Provider – Egan Jones

Best Recruiter – Jensen Partners

Best Tax Advisory Firm – Haysmacintyre

Best Trading and Execution Technology – SS&C Eze

Best Valuation Service – Oxane Partners

The winners of the inaugural Hedgeweek & Private Equity Wire European Credit Awards, which recognise excellence among private equity fund managers and service providers in Europe across a wide range of categories, have been announced.

Voting for the awards, which were presented at an exclusive ceremony and networking event today (28 September), at the Kimpton Fitzroy Hotel in London, was conducted via an online poll, where participants were asked to make their choice among the shortlisted firms in each category.

The manager award categories, which cover a wide spectrum of credit strategies and fund types, with separate sections for hedge fund and private equity credit specialists, while the service provider categories span essential services across the credit fund eco-system.

Pre-selection data for the manager awards was provided by Bloomberg, based on annualised returns over the 12 months from 31 May 2021 to 31 May 2022. 

For the service provider categories, the nominated firms were based on a widespread survey of more than 100 fund managers and other key industry participants. Nominations for these categories were based on performance over a 12-month period, from 31 May 2021 to 31 May 2022.

The winners are – 

Best Overall Performance Over $1 Billion: Debt – Loans/Credit – Crescent Capital Group LP (Crescent European Specialty Lending Fund II LP)

Best Overall Performance Under $1 Billion: Debt – Loans/Credit – Arcmont Asset Management (Blue Senior Loan Fund I)

Best Performance Over $1 Billion: Debt – Cheyne European Strategic Value Credit Fund I

Best Performance Under $1 Billion: Debt – Park Square Capital LLP (Park Square Capital Credit Opportunities III USD LP Inc)

Best Overall Performance: Debt – Mezzanine – Pemberton Capital Advisors LLP (Pemberton Strategic Credit Opportunities Fund II)

Best Overall Performance: Debt – Special Opportunity – Alchemy Partners

Best Credit Hedge Fund – Over $500 Million – Orchard Global

Best Credit Hedge Fund – Under $500 Million – SCIO Capital

Best Credit Hedge Fund – Multi-Strategy – Northlight European Fundamental Credit Fund

Best Credit Hedge Fund – Emerging Manager – Finserve Nordic AB (Nordic Factoring Fund AB)

Best Emerging Market Debt Hedge Fund – EMP2 (Black Stars Emerging Markets Fund)

Best Long/Short Credit Hedge Fund – Napier Park Global Capital US LP (Napier Park Eton Fund Ltd)

Best Credit Hedge Fund – Structured Credit – SCIO Capital

Best Overall Credit Manager – Hedge Fund – EBN Capital 

Best Overall Credit Manager – Private Equity – Alcentra Group Ltd

Best Overall Credit Fund – Hedge Fund – Enko Capital Management LLP (Enko Africa Debt Fund)

Best Overall Credit Fund – Private Equity – Hayfin Capital Management

Best Audit Service – PwC

Best Compliance Service – ACA Group

Best Custodian Service – MUFG

Best Cyber Security Firm – Options

Best Data and Information Provider – Advantage Data

Best Debt / Loan Administrator – Alter Domus

Best Fund Administrator – Private Credit – GLAS 

Best Fund Structuring Service – Appleby

Best FX Provider – MillTechFX by Millennium Global

Best Law Firm – Lending and Securities – Reed Smith

Best Managed Service Provider – RFA

Best Middle Office Services – Hazeltree Fund Services

Best Portfolio Management System – Virtus from FIS

Best Ratings Provider – Egan Jones

Best Recruiter – Jensen Partners

Best Tax Advisory Firm – Haysmacintyre

Best Trading and Execution Technology – SS&C Eze

Best Valuation Service – Oxane Partners

TIAA, ULI, CBRE IM, Boston Consulting Group, Hermes Infrastructure, Vistra, Yardi Global Services, GARBE Industrial Real Estate, Redevco, Alecta Real Estate, Atrium Ljungberg, Dunas Capital, Fiera Capital, Fabrix, TCC

Fiera Real Estate UK – The investment firm has hired Richard Howe and David Renshaw from Cheyne Capital to set up and run a pan-European real estate debt strategy. The new investment platform has secured £250m in seed commitments and is expected to launch in the first quarter of 2023. Howe and Renshaw worked together in the real estate debt team at Cheyne Capital for five years. Prior to this, Howe held positions at Chenavari Investment Managers, Lloyds and Anglo Irish Bank whilst Renshaw worked at Grainger, Kintyre Investments and Lloyds Banking.

CBRE Investment Management – The global real assets investment management firm has appointed Gioia Torresi and Pav Lamba directors in its European direct private infrastructure team. Reporting to the head of the European infrastructure investment practice, Lamba will be responsible for making European direct investments whilst Torresi will focus on the asset management of the European direct infrastructure portfolio and on sustainability and governance. With 10 years of experience within the investment and advisory industries across London and Toronto, Lamba will source, execute and asset manage infrastructure investments as part of the team in London. He joins from Boston Consulting Group, where he was project leader advising on large-cap private equity deals and corporate turnarounds across Europe. He is re-joining the infrastructure investment team, having previously worked with CBRE IM as a senior associate in Toronto. Torresi has eight years of experience within the investment industry across London and Milan. She joins from Hermes Infrastructure where she was VP on the asset management team. Torresi previously worked at Whitehelm Capital as an analyst in London and her experience also includes working at Mandarin Advisory and Lazard in Milan, Italy.

Urban Land Institute – Ron Pressman has been appointed global CEO. Pressman comes to ULI with more than 35 years of wide-ranging global leadership experience in the financial services, real estate, and energy industries. He will succeed W Ed Walter, who led ULI for the past four years. Pressman most recently served as CEO of TIAA institutional financial services. Prior to TIAA, Pressman served in various leadership roles across GE’s financial services and industrial business, including roles as CEO of GE Capital Real Estate and GE Energy in Europe, Africa, the Middle East, and Southwest Asia, based in London. 

Alecta Real Estate – Chris Helin has been given the job of head of property development and customer relations at the real estate arm of Sweden’s biggest pension fund. He joins the firm from his most recent role at Atrium Ljungberg in Stockholm, where he worked in various roles for almost 11 years, most recently as regional manager with responsibility for the firm’s leasing department and half of its property portfolio. The property arm of the pension fund said Helin would start work in the new role at the beginning of next year.

Trammell Crow Company – Christian Tretiak has been appointed director of business development, Claudia Matz as senior planning manager, and Maximillan Moser as senior development manager. Both Moser and Tretiak will report to Mario Sander, head of German and Austrian logistics. Matz will report to Robert Dischereit, construction director at TCC Germany and Austria. Tretiak will be responsible for sourcing new logistics development opportunities, budgeting, and underwriting new projects as well as overseeing projects from acquisition and concept stages, through design development to exit. Matz joins TCC from P3 Logistics Parks, where he began as development manager in 2016 and progressed to head of development and lettings in Germany. Prior to this, Tretiak was a senior consultant at BNP Paribas Real Estate, and asset and leasing manager at Pamera Asset Management. Tretiak is also an architect and worked in architecture and construction consulting from 2005 to 2010. In her new role as senior planning manager for TCC in Germany and Austria, Matz will be strengthening our construction and project management team and will be responsible for the planning and design process. Prior to TCC, Matz was leader of project development and expansion at Konsum Leipzig EG. She has also worked on several real estate investment projects from medical healthcare centres, residential, mixed-use, commercial, and marinas. Moser will be responsible for sourcing new logistics development opportunities, leasing transactions and supporting the capital market team in his new role as senior development manager at TCC Germany and Austria. Moser joins TCC from BEOS AG where he had been project manager since November 2020. Prior to this, he was an asset manager at Unibail-Rodamco-Westfield. 

Hines – Tom Cazalet joins Hines as a development director, a role which will see him work on Hines’ 18 Blackfriars Road development in London. Cazalet has spent the previous eight years at Battersea Power Station, the last four of which saw him working as development director. Chris Bunn has spent the past eight years at property and construction consultants McBains, most recently as an associate director, and joins Hines as development manager focused on mixed-use projects within Hines’ London portfolio. Bunn is an experienced project manager across a variety of commercial real estate sectors, and his expertise in stakeholder engagement, construction management and value engineering will prove invaluable at Hines as he oversees the delivery of projects within Hines’ UK-wide development pipeline. Catherine Turnbull joins Hines UK as an associate within the development management team. She arrives from Gardiner & Theobald’s project management team where she has spent the past four years overseeing all aspects of commercial development projects across sectors and regions. In her new role, Turnbull will be focused on some of Hines’ mixed-use developments in London, working closely with project teams and local stakeholders to continue Hines’ track record of developing high-specification, sustainable schemes which benefit local communities. Andrew Flynn joins Hines as a project manager focused on the delivery of Hines’ fit-out of the Grainhouse, a premier new office property on Drury Lane in the heart of Covent Garden which will serve as Hines’ new European and UK headquarters. Flynn brings extensive project management experience to Hines, having overseen high-quality and complex fit-out projects for companies including Morgan Stanley, UBS, Barclays, and Clifford Chance.

M7 Real Estate – Zaid Al Rawi has been appointed managing director for Middle East & North Africa, to head up the newly opened Dubai office. By extending its reach through a permanent office in the region, M7’s immediate focus will be on growing its capital raising function and expanding existing investor relationships across the MENA region. Including the UAE, M7 now has offices in 15 countries and territories and this latest market entry is in line with its ambitions to continue expanding globally following its acquisition by Oxford Properties last year.

Fabrix – The London-based real estate investment firm has appointed Nicholas Schiloff from Blackstone as chief investment officer and partner to lead the firm’s investment and asset management activities. Schiloff will help oversee investment and asset management activities, as well as raising and structuring equity and debt for the firm’s ongoing business initiatives. Schiloff was a principal at Blackstone and had worked with the company for the last seven years. His previous experience includes working at Mount Kellett and Hines.

Garbe Industrial Real Estate – Barbara Hrubesch has been appointed to head the company’s newly open branch in Vienna as the German logistics firm expands in Europe. Hrubesch has been named Garbe Industrial Real Estate Austria managing director. In her most recent position, Hrubesch was responsible for acquisitions and property developments at SIGNA REM Transaction. She previously worked for BAI Bauträger Austria Immobilien, PROJECT PI Real Estate CEE and Lidl Österreich. Bringing around twelve years of professional experience to the job, she will continue expanding the company’s investment and project development business. Garbe now operates 16 branch offices across Europe, including in the Netherlands, France, Italy, the UK, the Czech Republic, Poland and Slovakia, and its home market of Germany. 

Redevco – The European real estate manager has promoted Chris Fleetwood as head of global asset and development management. Fleetwood, who joined Redevco at the beginning of this year, will be reporting directly to CEO Andrew Vaughan and is tasked to further streamline the value-creation activities of Redevco with its impact agenda. Fleetwood will take over from Thierry Cahierre, who combined the function of head of global asset and development management with his roles of co-head client and fund management and fund director for the portfolios of one of Redevco’s key clients. Cahierre will now be able to fully dedicate his time to the execution of the transformation and diversification strategy of the proprietary portfolio and further developing the strategic scope for the client and fund management team. As part of his international head of global asset and development management role, Fleetwood continues to be responsible for the UK asset and development management activities and team in his role as portfolio director Redevco UK.

Vistra – Marlyn Ramirez has been appointed director of real estate fund operations in US. Ramirez will lead the US real estate funds business and all related operations. She will provide technical expertise to both existing and prospective real estate fund managers and ensure that excellent service is delivered consistently – all underpinned by Vistra’s core real estate technology application, Yardi Investment Management. Ramirez joins Vistra with 20 years of experience in real estate fund accounting, investor reporting, fund returns and investment management accounting systems implementation. Prior to joining Vistra, she served as a senior consultant for Yardi Global Services’ PSG Investment Management team where she was responsible for the full-service Yardi Investment Management implementation for North American real estate fund managers. 

Dunas Capital – The asset manager has appointed Miguel López Puche as head of real estate. Among the responsibilities in his new position will be to define and implement growth strategies in the different real estate segments, activate the investment platforms with the incorporation of new investors and financing partners, as well as to promote their growth. López Puche was managing director and advisor in Spain of the real estate developer Aq Acentor. Previously, he worked as managing director of real estate in Spain for Aquila Capital. He has also occupied several management positions in companies such as Indra, 3C Capital Centro Comercia and Riofisa.

Richard Howe and David Renshaw join from London-based alternative investment firm Cheyne Capital.

Fiera Real Estate UK (FRE) has hired Richard Howe and David Renshaw from Cheyne Capital to set up a pan-European real estate debt strategy for the firm.

FRE is owned by global investment manager Fiera Capital Corporation, which has more than $121.4bn in assets under management and is one of the largest asset managers in Canada. It was acquired in 2019 and then renamed from Palmer Capital Partners. 

Fiera Capital has existing real estate debt operations in Asia Pacific and Canada, which the new team can utilise.

The new European real estate debt strategy has already secured £250m (€286m) in seed commitments and is expected to launch in the first quarter of next year.

Howe and Renshaw previously worked in the real estate debt team at London-based alternative asset manager Cheyne Capital. Before that, Howe had stints at Chenavari Investment Managers, Lloyds, and Anglo Irish Bank.

Renshaw previously held positions at Grainger, Kintyre Investments and Lloyds Banking Group. Throughout their careers they have been responsible for originating more than £2bn (€2.3bn) of pan-European debt and equity investments.

‘The launch of our new real estate debt platform is a natural next step in the development of our product offering,’ said Charles Allen, head of UK real estate at FRE.

‘With a team of recognised experts and excellent market coverage, we are well positioned to offer our clients strong risk-adjusted returns across Europe at a very compelling time in the market cycle.’

The strategy will invest across multiple sectors, including residential, logistics, leisure assets and hotels. It will first focus on the UK market and then expand into select European countries.

Merger arbitrage hedge funds, which bet on the likelihood of corporate mergers and acquisitions closing, could benefit from the relentless rise of the dollar against the yen, the euro and sterling, according to a report in the Financial Times.

The strength of the dollar has boosted the buying power of investors with Greenback funding allowing them to potentially acquire foreign companies for lower cost than previously. One private equity executive even went so far as to state recently that “everything in the UK is on sale”.

The report quotes Pierre di Maria, head of event-driven at Cheyne Capital in London, as saying that he expects to see an increase in UK M&A activity on the back of sterling weakness.

Felix Lo meanwhile, a former Millennium trader who now runs a merger arb fund at Trium Capital, has built a screening tool to monitor the effect that these currency moves are having on cross-border deals. He expects US firms to be active saying that “US CEOs are the most bullish and eager to do deals”.

For Ramón Forcada Gallo, Director of Financial Analysis and Markets at Bankinter, we are in a progressive context change.

The impact of the economic situation on financing is one of the key factors in making real estate investment decisions in the current context. Savills, an international real estate consultancy, took the event ‘Real estate financing – keys and challenges’ to Madrid, in which banking experts and specialists in alternative financing explained the situation and how the market is adapting to the increase in interest rates  caused by high inflation.

The event was attended by Ramón Forcada Gallo, Director of Financial Analysis and Markets at Bankinter, who presented data on the current macroeconomic situation. According to his predictions, “3 to 6 confusing months remain… We are in a context change that will be progressive and we will have to get used to living with rates of 3% in the long term “.

For his part, Andrew McMurdo, co-head of Savills Capital Advisors at Savills UK, explained that “debt markets continue to operate normally, with a focus on quality funding, assets and cash-flow”. Furthermore, “debt advice is likely to be increasingly sought after as non-banks gain market share and markets become increasingly complex,” he concluded.

The roundtable, moderated by Javier Sarrado, CFO of Savills Spain, was attended by Jaime Vigón, CaixaBank’s Chief Administrative Officer for Real Estate, Construction and Infrastructure; Nicole Jürgensen, Head of International Clients at Münchener Hypothekebank, and Javier Quintela, Head of Iberia at Cheyne Capital, a firm specializing in alternative finance.

Sector not at risk, say experts

Financing experts agreed that at the level of analysis of operations, activity continues and has not stopped. The difference between before the summer and now, as they explained, is that the need to remain cautious while waiting for some positive indicator has been confirmed. They pointed out operations aimed at cash-flow generation as the best positioned to obtain financing.

In addition, everyone confirmed the importance of asset sustainability certifications to streamline and reduce the cost of operations. Green financing, as they explained, is becoming a matter of capital importance, in many cases decisive.

From Savills, financing specialists in Spain and Europe ensured that, taking into account the experience of other crises, at this moment the real estate sector is not at risk, there is financing, fundamentals and demand in the different real estate segments remain solid and the adapting to the new situation is essential for investment to remain active in this new context.

73 – Savoie L’ancien champion de freestyle Guerlain Chicherit, Nicolas Chatillon et Arnaud Viotte développent une nouvelle approche des séjours de montagne à travers leur groupe hôtelier. Leurs récentes acquisitions les placent parmi les leaders de l’hôtellerie de luxe en haute montagne.

 

Avec 16 hôtels, 21 chalets et 10 résidences hôtelières, le groupe Étincelles fait parler de lui en montagne. Tous les trois passionnés, les fondateurs du groupe – l’ancien champion de freestyle Guerlain Chicherit, Nicolas Chatillon et Arnaud Viotte – veulent rendre la montagne accessible et varier l’offre grâce à différentes typologies d’hôtels 4 ou 5 étoiles, de chalets ou de résidences hôtelières.

Ils privilégient également la réhabilitation et la rénovation, car offrir une seconde vie aux établissements existants plutôt que de construire du neuf correspond à leur vision durable. Les chantiers sont bas carbone, les matériaux biosourcés et la prise en compte de la performance énergétique impérative. L’emplacement est leur premier critère, ainsi que l’intégration naturelle à l’environnement. Pour Guerlain Chicherit, président du groupe, “il est impensable de concevoir un développement économique sans prendre en compte un élément essentiel : une vision durable.”

 

Levée de fonds

Leurs dernières acquisitions avec l’entrée en portefeuille des hôtels Koh I nor à Val Thorens, Taj I Mah aux Arcs, Daria I Nor à l’Alpe d’Huez et l’Incomparable à Aix-les-Bains, pour un montant de 130 M€, ont été financées avec le concours du gestionnaire de fonds Cheyne Capital. Ces acquisitions s’inscrivent dans la stratégie de développement du groupe dans des stations de ski de haute altitude où la neige est presque garantie. Une levée de fonds historique a été entreprise à Londres cet été auprès de Roundshield, avec un programme d’investissement de 400 M€. Le groupe Étincelles vise en effet à devenir leader sur le segment de la clientèle premium et ‘luxe abordable’.

La croisière « à la française » fait son grand retour dans l’Hexagone avec la Compagnie Française de Croisières (CFC). Disparue de l’horizon maritime depuis l’arrêt de Croisières de France en 2016, ce « revival » est piloté par deux professionnels du secteur, Clément Mousset et Cédric Rivoire-Perrochat, passés notamment par les compagnies Festival, Costa, NCL, Royal Caribbean, Rivages du Monde et Celestyal. Le premier assure le management et la partie commerciale de CFC, le second le marketing et l’opérationnel.

Positionnement adulte et premium

Pour ce beau projet dont les premières croisières sont programmées en février 2023, la jeune compagnie a mis la main sur un navire en cours de rénovation datant de 1993, l’ex-Maasdam d’Holland America Line de 629 cabines, rebaptisé Renaissance dont la capacité sera limitée à 1 100 passagers.

Un paquebot que les deux fondateurs présentent comme « à taille humaine » avec un positionnement adulte, senior et premium.

« Le concept a été élaboré en partenariat avec des TO, des agents de voyages et des clients », souligne Cédric Rivoire-Perrochat, qui met en avant le côté vintage et de la tradition des voyages au longs cours qui sera la marque de fabrique de CFC.

Les clients y retrouveront ainsi les spécificités qui ont fait le succès des croisières 100% francophones avec journaux de bord, noms de lieux à bord, menus, excursions et animations en français. Et même des terrains de pétanque !

Pas d’acheminement aérien pour réduire le prix des croisières

Afin de proposer un accès sans aérien, le MV Renaissance sera positionné exclusivement au départ du Havre et de Marseille. Le nouvel opérateur, arborant le pavillon français, a choisi comme siège et port d’attache la cité phocéenne, laquelle a récemment lancé une pétition anti-croisières en invoquant la pollution… La question environnementale n’a d’ailleurs pas été oubliée. « Nous avons sélectionné un paquebot qui avait été équipé par HAL des meilleures technologies en raison de ses navigations dans des eaux très réglementées comme en Alaska », précise Cédric Rivoire-Perrochat.

Les itinéraires, au nombre de 30 en 2023, seront tous différents afin de favoriser les enchaînements. « CFC ne sera pas en concurrence avec Costa ou MSC car notre paquebot effectuera des croisières plus longues, jusqu’à 11 ou 13 nuits », précise Clément Mousset. Si les tarifs sont dégressifs avec des paliers à 190 et 90 jours du départ, le prix de moyen est estimé à 240 euros par jour et par personne avec les pourboires.

Destiné notamment aux groupistes, un tarif Prio très attractif est également proposé, payable à 100% à la réservation et non remboursable. Les excursions et les forfaits boissons seront en supplément, payables à bord pour les passagers individuels. Si le paquebot est dédié aux plus de 18 ans, les familles seront aussi de la fête avec sept croisières intergénérationnelles » programmées durant les vacances scolaires avec des animations dédiées.

La qualité des itinéraires, plus que le volume 

Des accords seront passés prochainement avec les réseaux et agences online concernant la commercialisation de cette offre dont les ventes débutent cette semaine, le site BtoB devant être opérationnel dans les prochains jours. Présent sur le prochain salon IFTM Top Resa, CFC disposera à terme d’une vingtaine de salariés dont dix commerciaux partagés entre deux directions commerciales, au Nord et au Sud de l’Hexagone. 

La Compagnie Française de Croisières espère transporter 34 000 passagers pour sa saison originale en 2023 et 26 000 l’année suivante. Une baisse due à la programmation de croisières particulièrement longues en année 2. La première, du 8 janvier au 7 mai 2024, proposera ainsi d’accomplir le tour de l’Afrique en 120 nuits, 28 pays et 50 escales. Si le succès est au rendez-vous, les deux associés épaulés par le fonds d’investissement Cheyne Capital n’excluent pas d’exploiter un jour un second navire.