Brockhaus eschews fund model and plans IPO

The new firm has raised "a substantial amount of" its initial €50m target and is hiring key personnel for the new venture, including a CFO, according to a source close to the situation.

The longer term target will be to raise €150m and list the investment company on the Frankfurt stock exchange.

Founder Marco Brockhaus told German regional paper Börsen-Zeitung that many opportunities are being missed to due to the constraints of the fund model and the pressure to exit within a certain time period.

The GP's latest fund reported an IRR of 51% and a money multiple of 2x on 30 June 2017. After management fees and carried interest, this resulted in a 35% IRR and 1.7x return to the fund's LPs.

The vehicle is close to being fully invested with an average of €20m equity in each transaction. This year it has acquired majority stakes in data management software company Auvesy and travel software developer Peakwork.

Brockhaus's private equity team will continue to manage the fund and Marco Brockhaus himself will continue to oversee both operations.

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