Augur acquires Pall Mall Investment Management

Equity was provided by the Augur Financial Opportunity SICAV fund, which closed on €116m in 2008. Financial details of the transaction were not disclosed, but the vehicle usually invests in deals valued in the €15-40m range. Furthermore, the fund was invested at around 90% prior to the deal, which would value its equity contribution at no more than €15m.

Augur sourced the deal directly. The private equity house was attracted by Pall Mall's growth over the past few years; despite a tough post-crisis environment, the company's assets under management rose from €170m in 2008 to €1.3bn at the time of the investment.

Debt
Information on debt for this transaction remains confidential, but Augur typically does not leverage investments from the Financial Opportunity SICAV fund.

Company
Founded in 1998, Pall Mall Investment Management is an institutional asset management firm. The Hamburg-based company currently manages €1.3bn worth of assets for institutional clients in Germany.

People
Günther Skrzypek and Thomas Schmitt worked on the deal for Augur Capital. Holger Pastel is managing director of Pall Mall.

Advisers
Equity – CMS Hasche Sigle (Legal).

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• Topics
• DACH
• Buyouts
• Financials
• Germany
• Augur Capital