Alt Investments
German Family Office Launches Europe-Focused Private Equity Fund
Among the details of its statement, the family office said it is boosting the return prospects of the new fund by adding co-investments in promising European companies.
The German owner-managed family office, Lennertz & Co
has launched a private equity fund targeting European small- and
mid-cap companies.
The new entity is the Lennertz & Co PE Europe III, the third fund
of the series. Up to 80 per cent of the investments will be made
in target funds of renowned investment companies, such as
Bessemer Venture Partners, Hg Capital and Nordic Capital. The
regional focus of the fund of funds is on Northern Europe, the UK
and Germany, as well as a small allocation to the US.
"Lennertz & Co counts a large number of entrepreneurial
families from Germany and Europe among its clients, all of whom
share a deep understanding of private equity and regard the asset
class as an important component of a modern asset allocation,"
Philipp Lennertz, managing partner of Lennertz & Co, said. "Now
that company valuations have partially fallen since the beginning
of the year, the European small and mid-cap market in particular
offers good investment opportunities, which we will take
advantage of."
As with its previous funds of funds, Lennertz & Co is
boosting the return prospects of the new fund by adding
co-investments in promising European companies. Their weighting
accounts for a maximum of 20 per cent of the fund.
A co-investment in the Rimac Group has already been decided. The
company is a Croatian car manufacturer of electric supercars,
drives and battery systems. In addition, Rimac holds a majority
stake in the luxury car manufacturer, Bugatti, and has a
particularly promising position in the development and production
of components for electronic vehicles.
As a further co-investment, the fund holds a stake in SuperVista
AG, which became known with the brand brillen.de. Until 2016,
Lennertz & Co and its clients were first-time investors in
the company. brillen.de is the leading disruptor of the optician
industry in Europe and is now represented in seven countries with
over 1,700 partner opticians or its own branches.
Lennertz & Co launches a new fund of funds every two years
in the areas of private equity Europe, venture capital Europe and
venture capital US.
