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Paris, Frankfurt, Dusseldorf, Luxembourg, 1st July 2021.
ODDO BHF Asset Management completes further closings of its senior loan strategy focusing on German Mittelstand companies. In approximately one year, the private debt strategy has raised nearly EUR250 million. This demonstrates strong interest from institutional investors such as French, Italian or German insurance companies, pension funds and family offices as well as high-net worth individuals across Europe.
The strategy is financing successful German “Mittelstand” companies in the acceleration of their transformation and growth. Germany represents the strongest EU small and mid-cap market with c. 450k SMEs1 diversely spread across sectors and regions operating within a dynamic economy. Structurally, the direct lending market is growing with 59% of transactions executed by debt funds in 2020.
The strategy has benefited from the market environment where the deal flow has strongly recovered from the Covid-19 dip of May 2020, with 147 deals analysed in the last twelve months, over threequarters of which have been sponsor-led financings. The investment team will by the end of 1st semester have completed 5 debt financings together representing EUR47 million and with three further transactions in the execution stage.
Dr. Markus Geiger, Head of Private Debt, says, “Given the challenges raised by the Covid crisis, we are really glad about the outcome we have achieved to-date. The experience and track record of the private debt team and our ability to convert investment opportunities allow us to complete this additional closing, putting us in a very good position to reach our target of EUR300 million by year end.”
Nicolas Chaput, Chief Executive Officer at ODDO BHF AM, adds “The development of the Private Assets business is a key element of the Group’s strategic growth and diversification targets. We are pleased that major institutions and blue chip investors like the EIF and Allianz France have supported our project and investment team since the First Closing, besides the ODDO BHF Group.”
About ODDO BHF Asset Management
ODDO BHF AM is part of the independent Franco-German financial group ODDO BHF that was founded in 1849. ODDO BHF AM is an asset management leader in Europe. It comprises ODDO BHF AM GmbH in Germany, ODDO BHF AM SAS and ODDO BHF Private Equity SAS in France and ODDO BHF AM Lux in Luxembourg, which together manage assets totaling € 58.4 billion. ODDO BHF AM offers its institutional and wholesale clients a unique range of high-performance investment solutions in all main asset classes, i.e. fundamental and thematic equities, quantitative equities, fixed income, multi-asset solutions, private equity and private debt. A UN-PRI signatory since 2010 ODDO BHF AM has integrated sustainable investment criteria into a wide range of strategies. Its ESG approach focuses on ESG criteria integration, engagement with companies and a climate policy supporting the energy transformation. On a combined basis, 61% of assets under management are from institutional clients and 39% from distribution partners. The teams operate from investment centers in Dusseldorf, Frankfurt, Paris and Luxembourg with additional locations in Milan, Geneva, Zurich, Madrid, Stockholm and Abu Dhabi. ODDO BHF AM puts the long-term support of its clients at the heart of its priorities. Its independence allows its teams to be responsive, flexible and innovative in order to constantly find solutions tailored to the customers’ needs. www.am.oddo-bhf.com
About ODDO BHF
ODDO BHF is an independent Franco-German financial services group, with a history stretching back over 170 years. It was created from the alliance of a French family-owned business built up by five generations of stockbrokers and a German bank specialising in Mittelstand companies. With 2,500 employees (1,300 in Germany and Switzerland and 1,200 in France and Tunisia), and more than 125 billion euros in assets under management, ODDO BHF operates in three main businesses, based on significant investment in market expertise: private banking, asset management and corporate and investment banking. The Group has a specific ownership structure as 65% of its capital is held by the Oddo family and 25 % by employees. This “partnership” ethos guarantees the long-term involvement of its teams. In 2020, ODDO BHF generated net banking income of 624 million euros, and at 31 December 2020, the Group had over 940 million euros of shareholders' equity. www.oddo-bhf.com
CITIGATE DEWE ROGERSON
+33 1 53 32 78 89