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Private debt and infrastructure in demand: Golding raises 900 million euros

24. Janu­ary 2019

Munich, Germany — Golding Capi­tal Part­ners (Golding), one of Europe’s leading inde­pen­dent asset mana­gers for private equity, private debt and infra­st­ruc­ture, has closed two funds at record levels at the end of 2018. The Golding Private Debt 2016 fund recei­ved capi­tal commit­ments of over €580 million at the close of subscrip­tion, making it Golding’s largest private debt invest­ment program to date. The Golding Infra­st­ruc­ture Co-Inves­t­­ment 2016 fund closed with a final subscrip­tion of €336 million, well above the origi­nal target volume of €300 million.

Golding Private Debt 2016 reaches record volume
With a final subscrip­tion amount of over 580 million euros, the fund volume of Golding Private Debt 2016 is once again signi­fi­cantly higher than that of the prede­ces­sor fund and thus exceeds all previous place­ment results in the important private debt segment. The current invest­ment program was very popu­lar with exis­ting custo­mers, who alone subscri­bed to around 80 percent of the total volume.

Golding Private Debt 2016 provi­des capi­tal to finance corpo­rate acqui­si­ti­ons and growth finan­cing in the Western Euro­pean and North Ameri­can middle market, prima­rily senior secu­red loans. Golding’s addi­tio­nal invest­ment in oppor­tu­nistic credit stra­te­gies also stabi­li­zes the fund’s port­fo­lio for uncer­tain or vola­tile market peri­ods. The goal is to build a broadly diver­si­fied port­fo­lio with appro­xi­mately 300 under­ly­ing tran­sac­tions. With the subscrip­tion of 15 prima­ries, secon­da­ries and co-inves­t­­ments, this port­fo­lio expan­sion is already well advan­ced, and so far around 20 percent of the subscri­bed capi­tal has already been called up from investors.

With this stra­tegy, inves­tors bene­fit from diffe­rent return compon­ents, which may include equity-like compon­ents in addi­tion to an attrac­tive current inte­rest rate. A total of 42 insti­tu­tio­nal inves­tors — inclu­ding pension funds, insurance compa­nies, savings banks, coope­ra­tive banks and foun­da­ti­ons — will receive an income distri­bu­tion in the high single-digit percen­tage range on their commit­ted capi­tal already for 2018.

Mana­ging Direc­tor Huber­tus Theile-Ochel is highly satis­fied: “With the private debt asset class, we are the clear market leader in Germany and conti­nue to enjoy a high level of popu­la­rity among our inves­tors. They appre­ciate the more attrac­tive risk-adjus­­ted returns compa­red to more liquid lever­aged loans, bonds and the tradi­tio­nal inte­rest busi­ness. In response to inves­tor demand, we plan to launch the succes­sor fund this year.”

“Golding has been an active inves­tor in the private debt asset class for over 16 years. Our above-average track record clearly demons­tra­tes our proven exper­tise,” affirms company foun­der and mana­ging direc­tor Jeremy Golding (photo) of the inde­pen­dent asset manage­ment company’s exper­tise. “We now manage over €3 billion in this asset class and have inves­ted in a total of 100 prima­ries, secon­da­ries and co-inves­t­­ments from Europe and North America to date.”

Golding Infra­st­ruc­ture Co-Inves­t­­ment 2016 over­sub­scri­bed for final closing
The Golding Infra­st­ruc­ture Co-Inves­t­­ment 2016 invest­ment program provi­des insti­tu­tio­nal inves­tors with direct access to quality-assu­­red infra­st­ruc­ture co-inves­t­­ments for the first time. It was success­fully closed at €336 million at year-end 2018, excee­ding the origi­nal target of €300 million. The launch under­li­nes Golding’s posi­tion as one of the leading inde­pen­dent provi­ders of infra­st­ruc­ture invest­ments in Europe and is one of the first Euro­pean provi­ders to offer this form of invest­ment to its investors.

Golding Infra­st­ruc­ture Co-Inves­t­­ment 2016 is desi­gned for inves­tors who aim to quickly commit capi­tal and gain direct expo­sure to infra­st­ruc­ture projects without sacri­fi­cing broad diver­si­fi­ca­tion. “As a large and estab­lis­hed infra­st­ruc­ture fund inves­tor, we have a broad port­fo­lio of assets and a strong network to outstan­ding mana­gers. These are important foun­da­ti­ons for a steady deal flow of attrac­tive co-inves­t­­ment oppor­tu­nities,” said Dr. Matthias Reicher­ter, Part­ner and CIO at Golding.

The port­fo­lio build-up is progres­sing rapidly: of a total of 12 to 14 plan­ned infra­st­ruc­ture co-inves­t­­ments, six have already been imple­men­ted to date, inclu­ding tran­sac­tions in the trans­port, energy and logistics sectors. Almost 40 percent of the subscrip­tion commit­ments have already been called up from inves­tors, which include in parti­cu­lar insurance compa­nies, pension funds and state banks.

“The high demand from insti­tu­tio­nal inves­tors is a clear confir­ma­tion for us that we have filled a real gap with Golding Infra­st­ruc­ture Co-Inves­t­­ment 2016,” confirms Huber­tus Theile-Ochel, Mana­ging Direc­tor of Golding. “Inves­tors looking to target their exis­ting infra­st­ruc­ture port­fo­lio with solid infra­st­ruc­ture assets from Europe and North America will bene­fit from our solution.”

About Golding Capi­tal Partners
Golding Capi­tal Part­ners GmbH is one of the leading inde­pen­dent asset mana­gers for private equity, private debt and infra­st­ruc­ture in Europe. With a team of over 90 employees based in Munich, London, Luxem­bourg, New York and Tokyo, Golding Capi­tal Part­ners supports insti­tu­tio­nal inves­tors in buil­ding their invest­ment stra­tegy and mana­ges assets of more than €7 billion. The more than 160 insti­tu­tio­nal inves­tors include insurance compa­nies, pension funds, foun­da­ti­ons, family offices as well as banks, savings banks and coope­ra­tive banks.

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