Documents & data room.
The fund's legal and financial documents are available in the data room, once your investor status has been checked. Here is what each one contains.
Read everything before deciding.
An investment decision is made on the evidence. Breakwater provides all the documents that govern the fund: its presentation, its legal rules, its financial assumptions and the subscription formalities.
Access is gradual. The deck is sent on request. Legal and financial documents are opened in the data room once your qualified or professional investor status has been checked. Half-yearly reporting is reserved for the fund's shareholders.
These documents set out in particular the minimum tickets (€100k for an individual investing directly, €250k through an SPV), the 15% liquidity mechanism through internal and external buy-backs, and the terms specific to each subscription route: direct, through a holding company or under Article 150-0 B ter.
These documents are authoritative. Where they differ from a presentation or from this website, the articles of association, the shareholders' agreement and the subscription documents prevail.
Six documents, each with a purpose.
The fund presentation: the thesis, the ⅔ + ⅓ strategy, the assets, the ecosystem, the return targets and the structure. It is the starting point of the first conversation.
The rules of Breakwater Capital, a French SAS with variable capital: its purpose, its governance, the rights attached to its shares and the distribution rules.
The rights and duties of shareholders towards one another, including the 15% liquidity mechanism through internal and external buy-backs, exit terms and the allocation of performance.
The fund's assumptions and scenarios: pocket by pocket, year by year, from the downside case to the upside case, together with indicative volumes for the selection process.
The subscription form, the terms specific to each subscription route and the list of supporting documents required.
Portfolio monitoring after subscription, every six months: store activity, progress of both pockets, acquisitions, new builds, distributions.
Who sees what, and when.
| Document | Content | Access | When |
|---|---|---|---|
| Investor deck | Fund presentation | On request | From the first conversation |
| Articles of association | Rules of Breakwater Capital | Data room | After status check |
| Shareholders' agreement | Shareholders' rights, liquidity, exit | Data room | After status check |
| Financial model | Assumptions and scenarios | Data room | After status check |
| Subscription documents | Form, subscription routes, supporting documents | Data room | Before subscription |
| Half-yearly reporting | Portfolio monitoring | Shareholders | Every six months |
Documents to prepare.
The exact list is set out in the subscription documents. Your advisers can help you gather what applies to your situation.
Proof of identity, proof of address, evidence of your qualified investor status and of the source of funds.
The company's identification documents, up-to-date articles, identity of the ultimate beneficial owners and the signatory's authority.
In addition to the holding company's documents, details of the contribution-and-sale transaction, to be reviewed with your tax advisers to confirm the reinvestment qualifies.
What shareholders receive, every six months.
Revenue, margin and key store metrics, pocket by pocket.
Acquisitions completed, stores built, reviews and any disposals over the period.
Dividends paid or planned, and where they come from in the stores' results.
Use of the internal and external buy-back mechanism over the period.
Changes in acquisition channels, suppliers, the team or market conditions.
Priorities for the next six months in sourcing, creation and management.
Take the time to read, with your advisers.
The data room documents are written to be read in detail. The team answers the questions they raise in writing, and your advisers can review them with you.
This is also when the subscription route best suited to your situation becomes clear. Breakwater does not provide tax advice: the decision is yours, informed by your advisers.
- —Written answers to questions
- —Review by your advisers
- —No commitment before signing
How to get data room access.
You contact us through the form and receive the investor deck.
We confirm your qualified or professional investor status.
You receive your personal data room credentials.
You study the documents, on your own or with your advisers, and put your questions to the team.
The fund's key parameters.
Details and calculation methods in the articles, the agreement and the subscription documents.
Restricted documents.
Data room credentials are personal. The documents are confidential and must not be shared.
The information you provide is used to answer your request and support you, in accordance with the GDPR.
Any investment decision must be made after reading the official legal documents and, where needed, after consulting your advisers.
Receive the deck and open the data room.
Leave your details: a member of the team will get back to you for a first conversation and to check your profile.
Nothing on this website constitutes investment advice, tax advice, an offer or a solicitation. Only the official legal documents available in the data room are authoritative. Risk of total or partial loss of capital; past performance is not indicative of future results.