Parande

Euris is the top-level holding company controlled by Jean-Charles Naouri. Rallye sits beneath Euris and is the primary vehicle for his listed retail investments, most famously the Casino Group. Parande operates as a separate, unlisted investment entity that holds private assets — real estate, venture positions, and emerging-market stakes — that sit outside the Euris/Rallye consolidation perimeter and are not subject to the same creditor claims that have affected the Casino restructuring.

Public filings and property records show three distinct portfolios: residential development projects in Pune, India (Parande Homes and Parande Woods), mixed-use property in Brooklyn, New York (Parande Brooklyn Corp Holdings), and a venture capital arm (Parande Ventures) also based in New York. The Indian projects suggest greenfield land development, while the Brooklyn holding indicates direct real estate ownership rather than LP stakes in commingled funds.

Parande functions as a single-family office in substance — it manages private investments for the Naouri family and does not seek outside capital. Formally, it appears structured as a SAS (Société par Actions Simplifiée) under French law, which is a common holding-company vehicle for European family offices. It does not have a website, does not market externally, and its assets are not publicly disclosed beyond what appears in property registers and subsidiary filings.

The firm develops residential projects in Pune's Dighi and Dhanori neighborhoods, both middle-market residential corridors. This is direct development work — not fund investing — suggesting in-house project management and land acquisition capability. Pune's position as a manufacturing and IT hub with proximity to Mumbai makes it a logical market for a family seeking real asset exposure tied to India's urbanization trends without competing in Mumbai's hyper-inflated land market.

There is no evidence that Parande accepts outside capital or markets to co-investors. The entity operates as a private vehicle for the Naouri family's proprietary investments. The venture arm in New York likely writes direct checks in early-stage rounds, but the absence of a website or fund marketing materials suggests this is balance-sheet investing rather than a managed fund structure.

By design, it has not. Parande's assets are held outside the Euris/Rallye/Casino chain of control and are not collateral for Casino's debt. As Casino completed a comprehensive restructuring in 2024 that diluted the Naouri family's equity and shifted control to a creditor consortium led by Daniel Kretinsky (per Bloomberg, 2024), Parande's private holdings remained untouched. This separation was structured before Casino's distress became acute.

The decision-making structure is not publicly disclosed. Jean-Charles Naouri is the ultimate controlling shareholder of the Euris/Rallye group and almost certainly retains final authority over Parande's investment direction. The firm does not list any investment committee members or professional staff beyond the named relationships within the Euris treasury network. Attributions to specific deal leads for the Indian real estate or New York venture activities are not available from public sources.