Two former Capital Dynamics executives have set up a new private equity business, aiming to provide investors in the asset class with innovative investment and risk management products.
The co-founders of Montana Capital Partners, which is based in Baar, Switzerland, are Christian Diller and Marco Wulff. At Capital Dynamics, Diller served as head of solutions and worked on the firm’s structured product offering, whilst also advising clients on asset allocation, portfolio construction and risk management issues. Wulff was co-head of Capital Dynamics’ secondary investment operation.
Montana’s intended business model has two components. As a provider of early liquidity to limited partners in private equity funds, the firm hopes to create customised secondary investment programmes, and work on securitisations of private equity fund portfolios.
On the asset management side, Montana will offer risk, investment and portfolio management services to assist clients in moving away from fund of funds solutions and towards managing their private equity programmes in-house. Advice on regulatory developments such as Basle III and Solvency II will also be part of the offering.
“[S]ophisticated investors are asking for advanced risk management systems in order to have a better understanding of their risks,” Diller said.
Montana has assembled an advisory board comprising Wanching Ang, the former CEO of Allianz Private Equity Partners; Filip Henzler, another former Capital Dynamics colleague; Christoph Kaserer, Co-Director of the Center for Entrepreneurial and Financial Studies (CEFS) and Professor at the Technische Universität Munich, and Ulrich Niederer, former chairman of UBS Global Asset Management Switzerland.
The firm's board of directors includes Robert Bider, a former CEO of Hirslanden Group, and Toni Calabretti, managing director of Otto Beisheim Holding, the family office.