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VENTIZZ CAPITAL FUND IV L.P. CLOSES AT €450 MILLION (c. $650 MILLION) WITH FOCUS ON GROWTH BUYOUT INVESTMENTS IN GERMAN SPEAKING EUROPE
18. January 2008
- VENTIZZ CAPITAL FUND IV L.P
January 18th, 2008, St.Helier/Jersey, St.Gallen/Switzerland and Duesseldorf/Germany - Ventizz Capital Partners (“Ventizz”) is pleased to announce the successful closing of Ventizz Capital Fund IV, L.P. (the “Fund”) with €450 million (c. $650 million) of total commitments, making the Fund one of the largest private equity vehicles for German speaking Europe. Raised in approximately six months, the Fund closed above its initial €350 million target and was more than 50% over-subscribed at its final closing. Investment advisers to the Fund are Ventizz Private Equity AG in St.Gallen and Ventizz Capital Partners Advisory AG in Duesseldorf.
The Fund will seek to continue the Funds’ predecessors’ (“Ventizz Funds”) seasoned strategy of executing primarily control growth buyout investments of small- to medium high-growth high value-added industrial businesses, with headquarters or substantial operations principally in German-speaking Europe. It partners with companies where it believes a key characteristic of their business model (e.g. product, technology, process) provides them with a fundamental advantage versus competitors, thereby seeking to ensure that accelerated expansion is profitable and sustainable. The Fund focuses on well established companies, typically with revenues of between €10 million and €100 million, at a key inflection point in their growth path, where Ventizz can leverage its unique competencies to support management and unlock future value with a view towards generating superior returns.
Ventizz is being led by Dr. Helmut Vorndran, Reinhard Löchner, and Willi Mannheims (the "Partners"), who have considerable experience operating within their target markets, including an average of 18 years of relevant experience as owners, managers, management consultants and investors. This complementary expertise assists the Partners in identifying and closing compelling but often complex opportunities, providing capital markets and financial advice to portfolio companies, and acting as an intensively involved and informed value-added partner to management teams post-investment. The Partners are being supported by a team of six other investment professionals.
Dr. Helmut Vorndran, CEO of Ventizz Capital Partners Advisory AG in Düsseldorf, the German advisory entity advising the Fund, commented: “We are extremely pleased with the level of support the Fund received from both existing and new investors. We believe this reflects the strong platform since the inception of the first Fund advised by Ventizz Capital Partners in 2000, the strength of Ventizz Funds’ portfolio and track record as well as the outstanding opportunity in German speaking Europe today for an investor with the strategic focus of the Ventizz Funds.”
The Fund was backed by a blue chip list of more than 30 investors from across the globe, with support within the German speaking region (15 %), the rest of Europe (30 %), and internationally (55 %). In terms of investor type 35% of the fund was backed by fund-of-funds, 21% by university endowments and foundations, 14% by pension funds, 13% by industrial companies, and 12% by banks and insurance companies. The Fund reflected a significant step-up in size from Ventizz’ previous fund and as such new investors constituted a significant portion of the commitments.
Credit Suisse acted as placement agent and financial advisor. Latham & Watkins LLP acted as legal advisor to the fund, Ogier advised on Jersey law matters.
About Ventizz Capital Partners:
St. Gallen- and Duesseldorf-based Ventizz Capital Partners was established in 2000 and is advising funds, which are investing in buy-outs and growth equity for small and medium sized high-tech companies in primarily German speaking Europe. The three Partners of Ventizz, Dr. Helmut Vorndran, Reinhard L""chner, and Willi Mannheims, are currently advising four funds (including the Fund) with a total capital under management of more than ´Æ 650 million. To date, Funds advised by Ventizz Capital Partners have invested in 31 companies with a special focus in renewable energy/solar energy, high value add engineering, medical technology, and ICT. In addition to a variety of trade sales, Ventizz Funds have achieved three successful IPOs.
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