Jadeberg Partners goes deal-by-deal

Jadeberg launched Mountain Cleantech Fund II in 2011 with a €100m target, but wrapped up the fundraise at €43m in 2014.

The vehicle is targeting a 2.5-3x return and has €4m in dry powder left to invest in its existing assets before divesting its remaining holdings.

Click here for more information on the planned divestments at Unquote sister publication Mergermarket

Jadeberg managing partner Jürgen Hablicher said the firm considered launching a new fund in 2016 but instead decided to use the proceeds from realising the second fund to make investments on a deal-by-deal basis with individual LPs.

Hablicher added that the classic fund structure does not allow the firm the desired flexibility. Investing on a deal-by-deal basis would allow it to pursue investments with varying equity ticket sizes and remove the pressure to deploy, he said.

The GP will also now have the flexibility to invest in initial coin offerings, which was not possible with a standard fund structure.

Unquote recently explored the trend of DACH-based GPs exploring alternative fundraising models after Brockhaus Private Equity and Perusa Partners moved away from the standard structure for their latest vehicles. 

Three of the five most active private equity firms based in the DACH region last year used non-standard investment models, according to Unquote Data.

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