Fundraising launches in DACH Cinven grabs SLV-Group ... - Unquote

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funds Name CMP German Opportunity Fund II Closed on €175m Focus Distressed small- and mid-cap buyouts Contact Kai Brandes Address CMP Capital Management- Partners GmbH Mosse Palais Leipziger Platz 15 10117 Berlin Germany Tel. +49 (0)30-39 40 69-0 Fax +49 (0)30-39 40 69-25 Advisers P+P Pöllath + Partners (Legal) Campbell Lutyens (Placement agent) Alter Domus (Fund administration) Name Auctus III Closed on €155m Focus Small- and mid-cap buyouts Contact Ingo Krocke Address AUCTUS Capital Partners AG Brienner Strasse 7 80333 Munich Germany Tel. +49 (89) 159 0700 00 Fax +49 (89) 159 0700 49 Advisers P+P Pöllath + Partners (Legal) unquote Capital Management closes fund II on €175m Fund Capital Management Partners GmbH has closed its second fund, CMP German Opportunity Fund II, at its hard cap of €175m, surpassing its initial €150m target. The fund lifetime is 10 years with a five-year investment period, while terms and conditions are described to follow the industry standard. Campbell Lutyens acted as financial adviser and global placement agent, while P+P Pöllath + Partners provided legal advice and Alter Domus was chosen as fund administrator. Investors The fund has a European dominated investor base, with a third of LPs also hailing from the US and several Australian backers. Funds-of-funds and insurance funds make up the majority of commitments with investors including Allstate, Fort Washington, Grove Street Advisors, IFM, Parish Capital, Unigestion and Veritas. Investments CMP German Opportunity Fund II will look to make 10 investments in distressed and underperforming mid-cap companies with revenues of €30-300m based in the German speaking region. It aims to invest between €5-25m per buyout, and can further rely on LP co-investments to carry out larger transactions. The previous fund, CMP Fonds I, is fully invested and has realised nine of its 10 investments, with the last exits expected in Q2 2011. The fund performance is said to be above the market average. People Kai Brandes and Ludger Vonnahme are the managing partners of Capital Management Partners supported by five investment directors. Auctus closes third fund on €155m Fund Auctus Capital Partners has closed its third fund AUCTUS III at €155m following a fundraising period of only five months. The fund, launched in mid-July 2010, was substantially oversubscribed attracting high interest from existing and new investors and had to increase its initial hard cap of €150m. It has a 10-year lifespan with two one-year extension options and terms and conditions follow the industry standard at 2.5% management fee, 8% hurdle and 20% carry. No placement agent was used and P+P Pöllath + Partners provided legal advice. Investors More than 50% of investors from the previous fund reinvested with 90% of LPs hailing from Europe and the remaining from the US. Commitments come from insurances, pension funds, banks, endowments as well as 40% from fund-of-funds and 15% from German family offices. Investments AUCTUS III maintains its small-cap investment strategy and continues to focus on control investments in SMEs in Germany, Switzerland and Austria with revenues between €10-100m. It will aim to make 15 investments mainly in the healthcare and business support services sector with the education and IT segment also being considered. The average equity ticket per transaction will range between €5-15m. The fund has already made four deals, including the investments in recycling business Noventiz, German dental labs market leader Flemming and logistics provider CTJ. 04 UNQUOTE APRIL 11 ENTIRE CONTENTS COPYRIGHT 2011 INCISIVE MEDIA INVESTMENTS LTD www.unquote.com/dach
unquote funds AUCTUS II (vintage 2007) has not had to face a single write-off during the recession and currently holds an NAV of 2x cost on the 2007-2009 deals with two realised exits and several more expected by end of the year. The first fund, AUCTUS I (vintage 2003), has already paid back >5x total invested equity to investors and is expected to finish with 6x equity following the one remaining exit. People CEO Ingo Krocke is responsible for the management of the fund, supported by 11 investment professionals and three additional back office staff. Constellation Capital launches €100m fund Fund The private equity house and its team members are no novices to deal doing, having already completed 14 transactions funded on a deal-by-deal basis with external investors. The new fund focuses on “assetlight” service-related companies in German-speaking Europe. Fee structure for the fund follows the market standard with a 2% management fee, 8% hurdle and 20% carry, but the vehicle features a threeyear investment period, reducing the fund lifetime and expenses to eight years. The GP contribution is 5%, while the two managing partners have a personal liability to the fund, given the fund manager is established as a commercial limited partnership. Baker & McKenzie provided legal advice, with IPES chosen as fund administrator. No placement agent is being used for the time being. Investors The fund will look to draw on its established relationships with 40 investors that have previously contributed to investments on a deal-by-deal basis. It will look to attract high-net-worth individuals, family offices and institutional investors. The minimum ticket for private individuals is €1m and €10m for institutions. Name Constellation II PE Fund Target €100m Focus Small- and mid-cap buyouts Contact Ralf Flore Address Constellation Capital AG Kantonsstrasse 77 CH - 8807 Freienbach Tel. +41 444826666 Fax +41 444826663 Email ralf.flore@constellation.ch Advisers Baker & McKenzie (Legal) IPES (Fund administration) Investments Constellation II German Small Cap Fund has a strong sector approach, focusing on four main segments: outsourcing/business services, financial services, lifestyle/education and healthcare services. The fund will aim to make two to three investments in the DACH region per year and six to eight investments in total. Additionally, it will look to grow existing portfolio companies through add-on acquisitions. Equity tickets range between €5-15m, while typical targets are asset-light service companies with revenues ranging from €20-150m. The 14 transactions that were previously undertaken on a deal-bydeal basis have on average returned a 1.9x money multiple and 25% IRR. People Ralf Flore and Rainer Fröhlich are managing partners of Constellation Capital supported by six further partners. Additionally, 10 “industry partners” provide specific sector advice on transactions. eCapital holds final close of third fund Fund Venture capital firm eCapital has announced the final closing of its third fund, eCapital III Cleantech Fonds, at €50m. Name eCapital III Cleantech Fonds Target €50m Closed March 2008 Closed on €50m ENTIRE CONTENTS COPYRIGHT 2011 INCISIVE MEDIA INVESTMENTS LTD UNQUOTE APRIL 11 05 www.unquote.com/dach
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Fundraising launches in DACH Cinven grabs SLV-Group ... - Unquote

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