Astorius Capital: Closed third private equity fund of funds
Hamburg — Astorius Capital GmbH successfully closes its third private equity fund of funds Astorius Capital PE Fonds III with Euro 49m. As with the other fund programs, the focus is on buyout and growth strategies in the European SME sector.
“With Astorius Capital PE Fund III, we have again placed one of the most successful private equity products for semi-professional investors in Germany in recent years,” said Julien Zornig (photo), Partner at Astorius Capital. In addition to a very successful approach to direct customers, a number of private bank customers and family offices were won as investors. ACF III will be closed with a total volume of EUR 49 million. This represents the most successful fundraising in the company’s history to date. “The significant increase in volume and the high proportion of repeat subscribers, including in the already launched ACF IV, demonstrates the growing confidence of our customers in our offering,” Zornig added.
“With the target funds Deutsche Private Equity III, Nazca IV, CataCap II, Ergon IV and Stirling Square IV, we have once again put together a very attractive portfolio in ACF III,” explained partner Thomas Weinmann. In addition to three country funds, two Pan-European funds were linked. This gives customers access to high-quality European medium-sized companies. “The market environment with low interest rates, volatile stock markets and high real estate prices is helping. However, valuations in our market remain at attractive levels, not only relatively but objectively,” Weinmann adds.
Advanced investment activity
“Overall, we are very satisfied with the investment progress for our investors,” states partner Georg Remshagen. Several companies have already been included in ACF III, bringing the total number of investments in the various Astorius fund programs to 50. “In ACF III, there were write-ups on transactions after a short time,” which Remshagen sees as confirmation of the quality of the managers identified.
Challenging investor environment
“During the placement period of ACF III, many investors such as banks and family offices once again had to make changes due to new regulations such as MiFID II,” notes Frank Rohwedder, the partner responsible for structuring. “We have continued to be attuned to the needs of our direct customers and partners, and are constantly operating in line with the latest regulatory requirements.” In addition to private individuals, smaller institutional customers and foundations were again attracted as investors. “The transparency created by Astorius and the institutional selection process, which we are continuously improving, remains a crucial factor in this,” Rohwedder emphasizes.