New funds BCP and Castik set up shop in Germany

Launched last week, BCP, is raising a fund targeting €100m and deploying equity tickets of up to €10m. It will focus on companies with turnover of €10-100m in German-speaking countries, before following a buy-and-build strategy across the wider European market.

Speaking to unquote", BCP founder and managing partner Christoph Kauter confirmed the team is already conducting transactions alongside co-investors – mostly family offices and high-net-worth individuals.

The team will focus on machinery, supplies, consumer goods and services & IT, which, according to Kauter, account for 80% of the German SME market.

Kauter was previously co-founder and managing partner at Trigon Equity Partners.

In order to capitalise on their network of contacts, BCP's founders made the decision to set up in Frankfurt, despite Munich being the private equity capital of Germany.

Castik, a newly created buyout firm that has just held a first close on its €1bn target fund, recently opened offices in Munich. Run by the former head of Apax Germany, Michael Phillips, the firm has raised €625m from five investors since Phillips departed Apax two months ago.

Phillips' Apax contemporary Marc-Oliver Jauch is another of Castik's founding partners, along with Michael Gröber, a former investment director at London-headquartered European buyout firm Montagu Private Equity, as well as Reiner Löslein, a former director at Allianz Capital Partners.

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• Topics
• DACH
• Germany
• Apax Partners