Raphaël Béra has extensive experience in the tax structuring of:
Alternative investment funds (private equity, real estate, infrastructure funds) in multiple jurisdictions, including the structuring of carried interest and co-investment mechanisms;
Mergers & Acquisitions: private M&A deals including LBOs and capital markets transactions;
Real estate transactions, including acquisitions of French real property by institutional investors and non-resident high net worth individuals.
Raphaël has also been involved in general reorganisation work for corporate groups, including corporate tax and VAT issues.
Raphaël also represents taxpayers in tax disputes.
Advising Seven2, a leading European private equity firm, on the tax structuring of a EUR400m continuation fund created to support its portfolio companies Marlink and Crystal.
Advising on the tax structuring of Five Arrows Secondary Opportunities VI, the sixth fund in the Five Arrows Multi-Strategies platform, focused on GP-led secondary investments. The fund successfully closed at USD2bn.
Advising Mérieux Equity Partners, the investment arm of the BioMérieux pharmaceutical group, on the fundraising of Mérieux Innovation 2, a venture capital fund focused on the biotech sector.
Advising Ardian with respect to its semi-conductor fund of a target size of one billion euros.
M&A / Private Equity transactions
Advising the management team of Atlantic Vantage Point (AVP)—formerly AXA Venture Partners—on their management buyout (MBO) from AXA, following the announcement of the sale of AXA IM to BNP Paribas Asset Management.
Advising Armen (GP Stake Fund) in its acquisition of a minority stake in the Belgian management company Vendis Capital.
Advising La Maison Partners, a leading French private equity management company, on the strategic reorganisation of its shareholding structure.
Advising Alcopa Capital Development, together with the management team, structured the acquisition of 100% of the share capital and voting rights of Buffet Crampon Group (BCG), a global leader in wind instruments.
Real estate
Advising Tikehau Investment Management on various tax matters.
Advising Mata Capital on various tax matters.
RECOGNITIONS
Individual recognitions
Chambers France – Tax – Band 4, 2026
Legal 500 – Private Equity Tax – Leading Individual – since 2021
Best Lawyers – Tax Law – since 2021
“Raphaël Béra possesses extensive expertise that allows him to handle complex cases.” –
“Raphaël Béra provides a smooth and solution-oriented service. He is a master of sophisticated tax issues and has a pragmatic approach oriented towards the client's operational needs.” –
“Raphaël Béra has my complete trust, he can sort out something very complicated and I would recommend him to others for complex tax matters.” –
“Raphaël Béra's availability, depth of knowledge, and great adaptability are qualities we particularly appreciate and which stand out in our collaboration. We thank him for our valuable partnership.” –
“Raphaël Béra has a good manner and can respond well to questions. A very skilled lawyer, not only commercially, he is really into technical subjects too and is able to handle them himself.”
Team recognitions
Chambers France – Tax – Band 4, 2026
Chambers France – Investment Funds – Band 3, 2026
Legal 500 – Tax – Tier 3, 2025
Legal 500 – Private Equity: Fund formation – Firms to Watch – 2025
International Tax Ranking – Real Estate Tax – Tier 3 – 2026
International Tax Ranking – Transfer pricing – Tier 3 – 2026
“DLA Piper provides great support during a tax audit. Its team are responsive and dedicated.” –
“DLA Piper is very reliable, available and pays attention to details. The team knows how to handle complex and transnational cases.” –
“DLA Piper offers unique expertise in the taxation of investment funds.” –
“DLA Piper demonstrates great rigor and an ability to handle complex issues in a pragmatic and operational manner, with a strong sense of priorities.” –
“DLA Piper is well-suited for international deals.”
Chambers & Partners – Tax – 2026
“DLA Piper is well regarded for its practice advising clients on fund formation, including regulatory and tax aspects. The team frequently advises investors domestically and internationally.” –
“The DLA Piper team is very available and responsive.” –
“DLA Piper's team has sound knowledge of industry practices.” –
“DLA Piper has good knowledge of the market and its practices.” –
“The advice provided by DLA Piper is of a very good level and the team is multidisciplinary with a high degree of availability and responsiveness.”
Chambers & Partners – Investment Funds – 2026
Education
Harvard Law School, LLM and International Tax Program
Université Paris 2 Panthéon-Assas, Master 2 in Business Law (DJCE)
Sciences Po, BA in Public Affairs
Publications
Clarification du régime fiscal et social des gains de Management Packages, Option Finance, June 2025
Monthly VAT Alert
Monthly Indirect Tax Alert
New administrative guidelines for VAT in the hospitality and hospitality like sectors, 6 September 2024
French public ruling – VAT on supply of board games which include a book, 10 June 2024
French public ruling – Non-Fungible Tokens (NFTs), 13 March 2024
French Finance Bill 2024 introduces new VAT measures, 7 February 2024
Loi de Finances pour 2024, 12 January 2024
Assimilation d’un partnership de droit écossais à une société de libre partenariat et inapplicabilité du régime mère-fille, 4 December 2023
Draft Finance Bill for 2024 provides for amendments to the conditions for applying VAT in the hospitality and hospitality-like sectors, 7 November 2023
French draft finance bill for 2024 released, 11 October 2023
Projet de Loi de finances pour 2024 : des changements significatifs pour les entreprises et les particuliers, 4 October 2023
Blog post: "Global Tax Alert: French Supreme Administrative Court requests preliminary ruling from ECJ", DLA Piper Insights, July 2021
Blog post : "Fonds d’investissement - Commentaires administratifs relatifs à la sortie du Royaume-Uni de l’Union européenne", DLA Piper Insights, April 2021
Blog post: "Announced, proposed and implemented: Developments in Digital Services Tax in key European jurisdictions", DLA Piper Insights, February 2021
Blog post: "Loi de Finances pour 2021", DLA Piper Insights, January 2021
PRESENTATIONS AND SEMINARS
Fair: International Private Equity (IPEM), Cannes & Paris, France, each year
Matinale: Loi de finances, mesures fiscales: que nous apportera 2024? – 1 February 2024
Webinar: Loi de finances, ATAD 2, DAC6: quel environnement fiscal en 2021? – January 2021
Memberships And Affiliations
Raphaël is a member of the tax committee of France Invest.
