News
ODDO BHF Private Equity announces the 1st closing of ODDO BHF Secondaries Fund with total capital commitments on the strategy in excess of € 160 millions
November 13th 2018, Düsseldorf, Frankfurt am Main, Paris.
ODDO BHF Private Equity is pleased to announce that it has successfully completed the first closing of ODDO BHF Secondaries Fund, whose fundraising started in July 2018, with total commitments above €160 million, including a dedicated mandate for an institutional investor.
Commitments come mostly from French and German institutional clients. As an anchor investor, the ODDO BHF Group has made a significant investment in the Fund.
Nicolas Chaput
President of ODDO BHF Private Equity
“We are proud to receive such a strong support both from our historical partners as well as new investors that consider the secondary Private Equity market as a strong investment opportunity given the current market conditions. This first closing, happening less than 4 months after the launch of the strategy is also a great recognition of the quality and long standing track record of the PE team, led by Gilles Michat, Jérôme Marie and Ferdinand Dalhuisen.”
ODDO BHF Secondaries Fund invests in the lower end of the secondary European and North American markets, specifically focusing on medium sized transactions ranging from € 5 million to € 50 million. The Fund specializes in investing in mature and primarily cash generative assets with dominant positions and strong commitment of management teams.
For Gilles Michat, Managing Director of ODDO BHF Private Equity: “The differentiating nichy approach of the Fund is based both on our ability to negotiate attractive conditions at entry and acquire assets presenting a strong value creation potential. Focus on smaller transactions allows us to invest in a healthy segment where competition remains limited and offers attractive entry points in the Private Equity market.”
The Fund will capitalize on the team’s extensive experience and sourcing capabilities in Europe and North America, resulting from its 18-year investing experience. The fund is currently completing its two first investments in European and US assets.
The second closing is expected to take place in Q1 2019 with the support of additional French, German and European institutions, corporations, family offices and high net worth individuals. The Fund is targeting a size of € 300 million, alongside a retail secondary fund whose first closing should take place in December 2018.
********
About ODDO BHF Private Equity
ODDO BHF Private Equity is a private equity investment management firm with AIFM and AMF certification. It offers primary and secondary funds to institutional investors, corporations, family offices and private clients. ODDO BHF Private Equity manages €1.9bn in assets through 25 investment funds. ODDO BHF Private Equity is a member of 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 independent asset management leader in Europe. The asset management of the ODDO BHF Group comprises ODDO BHF AM GmbH in Germany, ODDO BHF AM SAS and ODDO BHF Private Equity SAS in France, which together manage assets totaling € 61.6 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. European equities, quantitative strategies, fixed income, multi-asset solutions and private equity. On a combined basis, 70% of assets under management are from institutional clients and 30% from distribution partners. The teams operate from investment centers in Dusseldorf, Frankfurt and Paris with additional locations in Luxembourg, Milan, Geneva, Stockholm, Madrid, Hong Kong, Abu Dhabi and Zurich. 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 160 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 2,300 employees (1,300 in Germany and 1,000 in France and Tunisia), and more than 100 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 60% of its capital is held by the Oddo family and 30% by employees. This “partnership” ethos guarantees the long-term involvement of its teams. In 2017, ODDO BHF generated net banking income of 591 million euros, and at 31 December 2017, the Group had over 844 million euros of shareholders' equity.
www.oddo-bhf.com
Press contact
CITIGATE DEWE ROGERSON
Yoann Besse / Laurence Duhamel
+33 1 53 32 78 89 / +33 1 53 32 84 73
[email protected]
[email protected]
Our news
Equities remain unmatched over the long term
Three British economists—Paul Marsh and Mike Staunton of the London Business School, and Elroy Dimson from Cambridge University—have embarked on a meticulous endeavour: they have traced 35 stock markets around the world as far back as possible to test a core theoretical question of investment. Are equities truly superior to all other asset classes over the long term?
The moment of truth for public debt
Economic crises leave a legacy of high public debt. Expansion phases should be used as an opportunity by governments to reduce their debt and rebuild some headroom in their public finances. This is easier said than done. Let’s look at what happened after the last two major crises.
The end of the American dream?
We must confess that we have a strategic "bias" in favor of the US market. The past 15 years proves us quite right. Since the end of the 2007-2008 Financial Crisis, Europe has outperformed for only 27 months, or just over 2 years. This structural outperformance of the US vs. Europe is mainly explained by a more robust EPS dynamic in the US.