Compagnie Du Saleve SA

The company is a public limited company (société anonyme) registered with the Luxembourg Registre de Commerce et des Sociétés under matricule B223232, incorporated on 23 March 2018 ¹². Issued share capital is EUR 6,854,000 and the company carries Legal Entity Identifier 254900TWD935XLM3HD91 ¹. Status as of the most recent registry refresh is active ².

The registered office at 12 rue Guillaume Schneider, L-2522 Luxembourg is the business address of NeoTrust Fiduciary, a corporate-services provider whose domicile co-hosts SPQR Capital Holding SA and, per the ICIJ Offshore Leaks database, eleven entities named in the Panama Papers leak ¹⁴. The fiduciary co-location is structural rather than incidental, providing the mechanism by which jurisdictionally distinct vehicles share administration without sharing ownership.

The 23 March 2018 incorporation date rules out the Luxembourg entity B223232 as the vehicle present at the 28 October 2015 Wind Hellas / TIM Hellas creditor hearing, since the company did not yet exist on that date ². The 2015 hearing entity is more plausibly a separate French SARL registered under SIREN 803012046 in Monnetier-Mornex, Haute-Savoie (a Geneva-border commune that shares the Salève toponym), since closed ².

Since 8 March 2023 the entire issued capital of Compagnie Du Saleve SA has been held by Five Arrows AutoBench Holding Sarl (Lux RCS B209234), a Rothschild & Co Five Arrows private-equity vehicle ¹³. AutoBench Holding traces back to a 27 July 2018 record under its earlier name Five Arrows White C Holding Sarl, with the AutoBench rename effected on 2 December 2020 — confirming continuity of the same registry matricule across the renaming ¹³. The previous shareholder of record between 2020 and 2021 was Luxfactory Group ¹.

Five Arrows AutoBench Holding Sarl was itself dissolved and placed into liquidation on 21 November 2024, with Five Arrows Managers SA (Lux RCS B143757) appointed as liquidator ³. The appointment of an in-house Five Arrows entity as liquidator points to AutoBench being an internal Rothschild & Co Five Arrows vehicle rather than a co-invest or partnered structure. Its capital of EUR 41.1 million flowed through shareholders FIN PO SA SICAR and Delphen Sarl, with managers Xavier Monnereau and Elisa Costanzo ³.

The post-liquidation status of Saleve’s shareholding remains the central open question. In Luxembourg practice the shares of a liquidated parent typically transfer to a successor vehicle or revert to the ultimate beneficial owner of the Five Arrows fund, but no successor record has yet been confirmed for B223232 ³.

The current board comprises Pierre Moulière (appointed in September 2019) and Mathieu Villaume (in post since the 23 March 2018 incorporation) ¹. A 25 January 2023 reshuffle terminated the directorships of Othman Baraka and Lucie Delamontagne, with Pierre-Yves Moulière documented at the same time as the lineage of Pierre Moulière's mandate ¹.

Villaume is the figure who recurs across these vehicles. Registry records characterise him as a Luxembourg professional director rather than a domiciliation agent, with at least 21 active mandates spanning Saleve, the now-terminated SPQR Capital Holding SA, the three parallel Knightsbridge Holding I/II/III SPVs (B279238, B280404, B281581), Anfield Capital, BlockTrust, Brandbull International, Cement Fund / GP, Chross, Cinchona, Codusa, ESI Group, HBB, JD Invest and Mosaic Real Estate, among others ⁶. Review of the filings indicates his directorship at Saleve is the first documented intersection between this mandate roster and the Rothschild & Co Five Arrows orbit ⁵.

Villaume’s mandate-portability across five fiduciary employers — REYL & Cie, Alter Domus, IQ-EQ, Fundcraft and Vault Administration / Azur & Partners — is the operational mechanism that lets a single natural-person director stay attached to vehicles such as Saleve through successive employer changes ⁷. His co-directorships with Alessandro Benedetti and Bertrand G. des Pallières at SPQR Capital Holding SA from 1 March 2016 are documented in registry filings, and those mandates ended by 7 February 2018 — before Saleve’s 23 March 2018 incorporation — so the two assignments do not temporally overlap ⁴. Examination of the registry appointment dates shows that all three SPQR directors were installed simultaneously on 1 March 2016, a coordinated board-installation pattern coincident with the Wind Hellas creditor litigation phase ⁸.

The Luxembourg company should not be confused with the entity present at the 28 October 2015 Luxembourg courthouse hearing on Wind Hellas / TIM Hellas creditor litigation. Saleve B223232 was not incorporated until 23 March 2018, two and a half years after that hearing ².

The 2015 hearing entity is more plausibly a separate (now-closed) French SARL registered under SIREN 803012046 in Monnetier-Mornex, Haute-Savoie — a French commune on the Geneva border that shares the Salève toponym with the Luxembourg company ². Both entities adopt the geographic reference but they are legally distinct, separated by jurisdiction, by registry matricule, and by roughly five years of incorporation history.

Because the Saleve name recurs across these distinct vehicles, references to the 2015 hearing belong to the French SARL rather than to the Luxembourg B223232 record, which cannot support a 2015 connection ².

Compagnie Du Saleve SA is significant for three reasons. First, the shared 12 rue Guillaume Schneider domicile co-locates a Rothschild & Co Five Arrows subsidiary with SPQR Capital Holding SA — the Benedetti / des Pallières Wind Hellas creditor vehicle liquidated on 16 March 2023 — and with eleven entities recorded in the ICIJ Offshore Leaks Panama Papers data, indicating that the NeoTrust Fiduciary domicile services a structurally heterogeneous client base spanning institutional private equity and litigation-distressed creditor vehicles ¹⁴.

Second, analysis of the mandate roster indicates Saleve is the first documented bridge between Mathieu Villaume’s contract-directorship portfolio and the Rothschild & Co Five Arrows orbit — the specific cross-jurisdiction custodian pattern that connects Benedetti, des Pallières and Raffaele Mincione through Asherco LLP and the SPQR vehicle stack ⁵⁷.

Third, the Five Arrows AutoBench Holding Sarl liquidation on 21 November 2024 leaves Saleve’s upstream ownership chain temporarily ambiguous in the public registry — the entity remains active and its directors are unchanged, but the 100-percent shareholder of record is itself in dissolution — a structural state that warrants a registry refresh to identify any successor vehicle or direct-fund transfer ¹³.