Saint-Étienne, France

Patient capital for independent law firms.

HORS JEU takes minority equity participations in the professional practice companies of lawyers (sociétés d’exercice libéral), helping firms fund growth while the lawyers keep control of their practice.

Discuss a participation See what we do
  • Minority, long-term positions
  • Lawyers keep professional independence
  • Structured within applicable regulation

Our fieldEquity participation in law firm holding companies

Our positionMinority partner, never a decision-maker on legal matters

Our base6 Rue Abel Hovelacque, 42100 Saint-Étienne

A shareholder that understands how a law firm works.

HORS JEU is a company dedicated to one activity: acquiring and holding minority participations in the capital of professional practice companies of lawyers. We are based in Saint-Étienne and work with firms that want a stable, patient shareholder rather than a short-term financial investor.

Law firms are built on people and trust. Growth, however, often needs capital: recruiting associates, opening a second office, investing in tools, or organising a partner’s succession. We provide that capital through a transparent equity relationship, with clear governance from day one.

Legal practice is a regulated profession, and we treat that framework as a starting point for every discussion, not an obstacle. Each participation is structured with the firm’s own advisers, taking into account the rules that apply to the company and its lawyers, including those on capital, voting rights and professional independence.

What we do

Acquire and hold participations in law firm practice companies.

What we never do

Practise law, give legal advice, or interfere in client matters.

How we work

Open discussion, written terms, and a long-term view of the relationship.

HORS JEU is not a law firm and does not provide legal advice.

What we offer to law firms and their partners

Five ways we can work with a firm, each shaped around the practice rather than a standard package.

  • Minority equity participation

    Core activity

    We acquire a minority stake in the practice company of a law firm. The lawyers retain control of the company, its strategy and every decision touching professional practice. Terms, duration and governance are set out in writing and agreed with your advisers.

  • Growth capital

    Development

    Funding for the projects that move a firm forward: hiring, a new office, a specialist practice area, or investment in secure document and case-management systems.

  • Succession and partner transitions

    Continuity

    When a founding partner prepares to step back, a participation can ease the transition by supporting the buy-out of shares by the incoming lawyers over time, keeping the firm in the hands of those who practise in it.

  • Shareholder governance support

    Structure

    We help define a clear relationship between the firm and its shareholder: information rights, reporting rhythm, exit conditions and the safeguards that protect professional independence and confidentiality.

  • Preliminary review and discussion

    First step

    Before any commitment, we hold an exploratory discussion on your objectives, your structure and the regulatory points to be checked with your counsel. There is no obligation on either side at this stage.

Why firms talk to HORS JEU

The principles we apply in every discussion.

Independence preserved

Our role is that of a financial shareholder. Decisions on clients, cases and legal strategy stay entirely with the lawyers.

A long-term horizon

We are built to hold participations, not to trade them. That allows firms to plan hiring and investment over years.

Regulation-first structuring

Every proposal is framed around the rules applicable to law firm practice companies and reviewed with your own advisers.

Specialisation

We work in one sector only, so we speak the language of partners, associates and bar obligations.

Discretion and clarity

Confidential conversations, plain terms and no hidden conditions, from first call to signed agreement.

Talk to us about a participation

Tell us about your firm and what you want to achieve. We will reply to your message by email.

Company
HORS JEU
Address
6 Rue Abel Hovelacque
42100 Saint-Étienne, France
Email
info@horsjeu.site
Activity
Equity participation in law firm practice companies (SEL)