Oakley Capital closes €800 million fund

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Oakley Capital closes €800 million fund

Oakley Capital (“Oakley”) is pleased to announce that it has closed its third fund, Oakley Capital Private Equity III (“Fund III”), raising €800 million. Continued strong support from existing investors and a €326 million commitment from Oakley Capital Investments Limited, the AIM-listed Fund established to provide investors with access to the Oakley Funds, has enabled Oakley to raise its largest fund to date.

Key highlights:

  • Successful close above original hard cap of €750 million due to investor demand;
  • Strong investment from Oakley portfolio entrepreneurs and management teams who contributed 5% of the funds raised;
  • Oakley partners and staff contributed in excess of 5% of the total funds raised;
  • 75% re-up rate of Fund II institutional investors, demonstrating their belief in Oakley’s performance and potential; and
  • Fund III has already been very active with five investments across Oakley’s core sectors and is already 40% deployed.

Oakley Capital has a highly successful 15 year track record of investing across Western Europe, with a focus on identifying investments where the firm can work proactively with founders and management teams in order to create substantial shareholder value for its investors.

Fund III attracted strong interest from high quality investors, and closed above its original hard cap at €800 million, with 75% of the institutional investors in Fund III choosing to re-up, highlighting their confidence in Oakley’s investment strategy. This has been echoed in the investment made by Oakley’s partners and staff, as well as the strength of our new investors, further demonstrating Oakley’s brand strength and successes in the market. The investment from Oakley’s portfolio entrepreneurs and management teams reinforces the collaboration between the firm and its entrepreneurial network, which supports deal origination and the future pipeline.

Fund III has already been very active with five investments across Oakley’s core sectors: Schülerhilfe (Education), TechInsights (TMT), Plesk (TMT), Casa.it and atHome.lu (Digital Consumer) and AMOS (Education). These deals further Oakley’s track record of managing complex carve outs and primary deals with a focus on backing the best founders and management teams.

Oakley’s Fund II (a €525 million 2013 vintage fund) continues to be successful, with average year-on-year EBITDA and revenue growth both in excess of  30% for it’s portfolio companies. Following on from the success investment strategy in Fund II, Oakley is leveraging its experience in its core sectors of Digitial Consumer, TMT and Education in Fund III. The Oakley Funds have also had particular success in the German speaking markets, which remains a key focus in the current fund. Fund III seeks to invest in companies with enterprise values between €60 million and €300 million.

Through its three funds, Oakley has completed 25 acquisitions primarily across Western Europe with a combined enterprise value of over €4 billion. Since inception, realised investments have achieved gross returns of 44% IRR and 2.5x money multiple and returned c.€780 million to investors.

Peter Dubens, Managing partner and Co-founder of Oakley, commented:

“We are delighted to announce another successful fundraise, a result of the confidence our investors have in our abilities to continue to identify attractive investment opportunities across Western Europe.

Through our sector expertise, we are able to embrace complexity, buy-in at attractive multiples and generate superior returns.

We continue to draw support from management teams we have previously backed, demonstrating their belief in our entrepreneurial approach to engaging with our portfolio companies in order to grow and develop businesses, whilst delivering compelling returns to investors.

Fund III is off to an excellent start, having already made five acquisitions. With a healthy pipeline, and the continued support of a talented and growing senior leadership team, I am confident that we will continue to deliver strong investment returns for our investors.”

David Till, Senior Partner and Co-founder of Oakley, added:

“As we increase our funds under management, so we have been able to attract the very best people to our firm, a factor that is core to our success in generating strong returns. We all feel incredibly proud of the achievements of the firm and the value created for its investors.”

 

– Ends –

 

For further information please contact:

Oakley Capital Private Equity                                               +44 20 7766 6900

Peter Dubens, Managing Partner

FTI Consulting LLP                                                                     +44 20 3727 1000

Edward Bridges / Stephanie Ellis

About Oakley Capital Private Equity L.P. (“Fund I”), Oakley Capital Private Equity II (“Fund II”) and Oakley Capital Private Equity III (“Fund III”) together the “Oakley Funds”

Oakley Capital Private Equity L.P. and its successor funds, Oakley Capital Private Equity II and Oakley Capital Private Equity III, are unlisted mid-market private equity funds with the aim of providing investors with significant long term capital appreciation. The investment strategy of the funds is to focus on buy-out opportunities in industries with the potential for growth, consolidation and performance improvement.

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Request for a share buyback programme of up to 25% of the outstanding registered shares

Castle Private Equity Ltd today published an invitation for an extraordinary general meeting to seek shareholder approval regarding a fixed-price share buyback programme of up to 25% of outstanding registered shares. In addition, the Board of Directors proposes a reduction of the minimum shareholding for placing items on the agenda.

The main objective of the buyback for cancellation purposes will be to distribute liquidity to shareholders. Castle Private Equity Ltd. will contact major shareholders on their willingness to tender shares to the transaction in the next weeks.

 

If approved by extraordinary general meeting, the share buyback is anticipated to occur subject to conditions in November 2017. Details regarding the transaction will be published following the extraordinary general meeting.

 

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Ardian sells its stake in TimeOne

Ardian

Paris – October 2nd 2017 – Ardian, the independent private investment company, today announces the sale of its stake in TimeOne, the independent French leader in digital marketing, to Edmond de Rothschild Investment Partners’ ActoMezz investment team.

Ralph Ruimy, co-founder of TimeOne, sells its stakes and Sylvain Gross, co-founder of TimeOne, becomes Group CEO. Sylvain Gross and the Group managers strongly increase their stake.

TimeOne was created as a result of the merger of Public-Idées and Place des Leads in 2016, with the support of Ardian Growth. Following the transaction, TimeOne cemented its position as an independent French leader in online marketing in France, with a consolidated turnover of nearly €50 million.

Specialising in data analytics, the company’s activity is structured around three priorities: Content, Data and Technologies. TimeOne covers all stages of the client conversion funnel (reputation, engagement, conversion, re-purchase) via its online marketing solutions: Performance, Mobile, Lead Management Technology, Native, Social, Programmatic and Publishing.

In addition to France, the Group is present in the United Kingdom, Spain, Italy, South Africa, Asia, and South America.

Through close collaboration between Ardian Growth and the TimeOne management team, the Group successfully adopted a new identity, integrated technological solutions and developed a complete service offering, while maintaining steady and profitable growth of over 10%.

Sylvain Gross, CEO of TimeOne Group, said: “With the support of Ardian Growth, TimeOne has undergone transformational change. We look forward to working with Edmond de Rothschild Investment Partners as TimeOne continues to realise its ambitious growth plans.”

Romain Chiudini, Senior Investment Manager at Ardian Growth, added: “We are pleased to have supported the founding team in the development of TimeOne Group. It was an important stage in which we played a key role as a strategic partner. As ever, it was also important to us that the management team had the right resources to maintain the company’s growth dynamic after the sale, which will certainly be the case with a partner like Edmond de Rothschild Investment Partners.”

Ralph Ruimy, co-founder of TimeOne said: “I’m delighted to sell my stake to leading investors as Edmond de Rothschild Investment Partners and wish every success to my former partners and colleagues.”

Arnaud Faure, Deputy Director at ActoMezz within Edmond de Rothschild Investment Partners, added: “We are convinced that TimeOne has the strong basis needed to pursue its development in France but also abroad. Its Data Marketing Platform, unique technological expertise across all its activities, and its numerous innovations have propelled the company to become a leader within the digital marketing sector. Together with the management, our ambition is to grow the turnover to over €70 million in four years.”

ABOUT TIMEONE

TimeOne is an innovative Marketing Services group. The Group’s activities are structured around three priorities: Content – Data – Technologies. By combining expertise in content creation, machine learning, prescriptive marketing, performance and real-time activation, TimeOne is adding new value to media. With a well-established reputation in prescriptive marketing and a common technological base (DMP), TimeOne is founded on strong innovation made possible through its substantial Research and Development activity. TimeOne covers all online marketing solutions: Performance, Mobile, Lead Management Technology, Native, Social, Programmatic and Publishing. The Group is present in France, the United Kingdom, Spain, Italy, South Africa, Asia and South America.

ABOUT EDMOND DE ROTHSCHILD INVESTMENT PARTNERS

About Edmond de Rothschild Investment Partners

Edmond de Rothschild Investment Partners, a leading firm in the area of unlisted investment, manages over €1.8bn in life sciences (BioDiscovery), growth capital and succession (Winch Capital for mid caps and Cabestan Capital for small caps) and mezzanine financing (ActoMezz).
Edmond de Rothschild Investment Partners will continue to raise funds in its current segments, soon bringing its assets under management to more than €2bn. Based in Paris, Edmond de Rothschild Investment Partners is a firm with 58 employees of which 40 are investment professionals. It is 51% owned by the Edmond de Rothschild Group and 49% owned by the management company’s partners and employees.

ABOUT ACTOMEZZ

ActoMezz is a team of eight investors who support via mezzanine and minority capital (i) the management teams of French small-mid-cap SMEs valued between €15m and €200m in their efforts to take over the majority shareholding of their company (sponsorless transaction) or in the financing of their development and (ii) investment funds via mezzanine sponsor transactions. With €700m under management, ActoMezz has carried out 37 transactions since its creation in 2006 and invests €5m to €45m per transaction.

ABOUT ARDIAN

Ardian, founded in 1996 and led by Dominique Senequier, is an independent private investment company with assets of US$65bn managed or advised in Europe, North America and Asia. The company, which is majority- owned by its employees, keeps entrepreneurship at its heart and delivers investment performance to its global investors while fuelling growth in economies across the world. Ardian’s investment process embodies three values: excellence, loyalty and entrepreneurship. Ardian maintains a truly global network, with more than 470 employees working through twelve offices in Paris, London, Frankfurt, Milan, Madrid, Zurich, New York, San Francisco, Beijing, Singapore, Jersey, Luxembourg. The company offers its 610 investors a diversified choice of funds covering the full range of asset classes, including Ardian Funds of Funds (primary, early secondary and secondary), Ardian Private Debt, Ardian Buyout (including Ardian Mid Cap Buyout Europe & North America, Ardian Expansion, Ardian Growth and Ardian Co-Investment), Ardian Infrastructure, Ardian Real Estate and Ardian Mandates.

LIST OF PARTICIPANTS

Ardian: Laurent Foata, Romain Chiudini
Edmond de Rothschild Investment Partners: Arnaud Faure, Christine Martinovic, Antoine Soucaze
TimeOne: Sylvain Gross, Ralph Ruimy
Banks: LCL (Chloé Fournier, Laurent Suscosse), Crédit du Nord (Pierre Delorme), Caisse Epargne Ile de France (Philippe De Oliveira, Julien Jonasson), BNPP (Hélène Faure, Amélie Roseandrieux, David Eyraud)

Sales advisory:

Investment banker: DC Advisory (François Prioux, Alexis Baron, Timothée Héron)
Lawyers: McDermott Will & Emery (Diana Hund, Marie-Muriel Barthelet, Claire Barra)
Tax: McDermott Will & Emery (Antoine Vergnat, Romain Desmonts)
Financing: McDermott Will & Emery (Pierre-Arnoux Mayoly, Benjamin Briand, Alice Beral)
Social: McDermott Will & Emery (Myrtille Lapuelle)
Financial review: KPMG (Antoine Bernabeu, Guillaume Staal, David Martinet)

Edmond de Rothschild Investment Partners Advisors:

Legal: Hogan Lovells (Stéphane Huten, Florian Brechon, Sarah Naidji)
Tax: Hogan Lovells (Bruno Knadjian, Laurent Ragot)
Social: Hogan Lovells (Thierry Meillat, Alexandra Tuil)
Financing: Hogan Lovells (Alexander Premont, Guergana Zabounova, Isabelle Rivallin)
Strategic: Neovian (Patrick Richer, Kevin Bailey)
Financial: ACA Nexia (Hervé Krissi, Olivier Duval, Maxime Grélou)

Banking advisory:

Legal: CBCH Associés (Chukri Serhal, Carole Geara)

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CapMan Real Estate appoints Investment Directors in Sweden and Denmark

Capman

CapMan Real Estate appoints Investment Directors in Sweden and Denmark

Following its successful €425 million fund raising for its second pan Nordic Real Estate Fund, CapMan Real Estate has recruited Erik Visteus and Jacob Gade as Investment Directors in its Stockholm and Copenhagen offices to strengthen the team.

Erik brings with him 17 years of Swedish real estate experience from advising on and executing real estate transactions. He joins from JLL, where he was a National Director in the Stockholm office and responsible for transaction services and buy and sell-side mandates throughout Sweden. Prior to that Erik held positions with NCC and HSH Nordbank.

Jacob joins from Skanska in Denmark, where he was a manager in the project development department and brings nearly 13 years of asset management, project management and development experience with him.

“We are delighted to welcome Erik and Jacob to CapMan. Their strong backgrounds, contacts and reputations in two of our key Nordic real estate markets make them a great addition to our team,” says Mika Matikainen, Managing Partner and Head of CapMan Real Estate.

CapMan Real Estate has a team consisting of over 30 real estate professionals in Helsinki, Stockholm and Copenhagen. CapMan Real Estate currently has over EUR 1.7 billion of assets under management and the first fund was established in 2005.

For further information, please contact:
Mika Matikainen, Managing Partner, Head of CapMan Real Estate, tel. +358 40 519 0707
Ed Williams, Managing Partner, Sweden, CapMan Real Estate, tel. +46 76 506 20 71
Torsten Bjerregaard, Managing Partner, Denmark, CapMan Real Estate, tel. +44 7715 772 554

CapMan
www.capman.com
twitter.com/CapManPE

CapMan is a leading Nordic investment and specialised asset management company. As one of the Nordic private equity pioneers we have actively developed hundreds of companies and real estate and thereby created substantial value in these businesses and assets over the last 28 years. CapMan has today 110 private equity professionals and manages €2.7 billion in assets. We mainly manage the assets of our customers, the investors, but also make direct investments from our own balance sheet in areas without an active fund. Our objective is to provide attractive returns and innovative solutions to investors and value adding services to professional investment partnerships, growth-oriented companies and tenants. Our current investment strategies cover Buyout, Growth Equity, Real Estate, Russia, Credit, Infrastructure and Tactical Opportunities. We also have a growing service business that currently includes fundraising advisory, procurement activities and fund management.

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