Augur Capital fund makes debut investment

Frankfurt-based Augur has collected €72m for its second Financial Opportunities fund. The firm was co-founded by Günther Skrzypek.

Augur Capital has made its first investment from the firm’s Financial Opportunities II fund, acquiring Luxembourg-based financial services company LRI Invest for an undisclosed sum.

LRI Invest is an investment and fund administration company which launches and administers investment funds for banks, insurance companies and independent asset managers from German speaking countries. LRI specialises in providing small and medium-sized asset managers with access to the investment fund business in Luxembourg.

Günther
Skrzypek

“Since we believe in both the attractiveness of LRI’s business model and Luxembourg as a location for such services, we are very glad to make this investment,” Augur Capital managing partner Günther Skrzypek said in a statement.

LRI’s assets under management have increased from approximately €4 billion to almost €10 billion in the past two years.

Frankfurt-based Augur’s second fund held a first close on €71.8 million in August 2010 and is targeting a total of €250 million, with a hard cap of €300 million. The firm focuses on small to medium-sized investments in banks, insurance companies and other financial services businesses in Europe.