London, Paris, September 12, 2025 – Cohen & Gresser acted as cross-border deal counsel to Lupa Systems (James Murdoch's family office) on its exit from French digital media firm Brut. The Cohen & Gresser team was led by partners Daniel H. Mathias and France Portmann Loy, with associate Eleonore Messina.
Cohen & Gresser is pleased to announce that it advised its client, Lupa Systems, on its exit from French digital media firm Brut, in connection with the acquisition of Brut's entire share capital by CMA-Media (a subsidiary of CMA-CGM). Terms of the transaction were not disclosed.
Lupa Systems, the private investment firm founded by James Murdoch, became a shareholder in Brut in 2021 through a $75 million (€63 million) Series C funding round. The round also included Artemis (the investment vehicle of François-Henri Pinault), Orange Ventures, and Tikehau Capital, alongside existing investors such as Alfred Vericel (co-founder of venture capital firm Red River West).
Cohen & Gresser advised its client Lupa Systems with a cross-border team comprising partners Daniel H. Mathias and France Portmann Loy, and associate Eleonore Messina. Brut was advised by Hogan Lovells (Paris) and CMA-Media was advised by Willkie Farr Gallagher LLP (Paris).