Halder, a Frankfurt-based buyout firm, has attracted former Blackstone Group executive Hanns Ostmeier as a shareholder and executive chairman, according to a statement.
Ostmeier, a former senior managing director at The Blackstone Group in Germany, also will become chairman of the supervisory board, managing partner Paul de Ridder, told Private Equity International. The firm declined to disclose the stake Ostmeier bought, but together with De Ridder and fellow managing director Michael Wahl, he will hold a “large majority” of the company.
The changes in the firm’s management structure come after Halder last month became independent from Gimv, a Belgium listed firm, when it bought the German advisory company that advises the Halder funds.
When Gimv bought Halder in 2000, Halder had already invested two funds. Under Gimv’s ownership, Halder completed four investments from the Belgium firm’s balance sheet before raising the €155 million Halder Gimv Germany fund in 2003, De Ridder said. Gimv acted as a sponsor and cornerstone investor in that fund, which has a 33 percent net IRR and is now fully divested, with investors getting “close to two times their money back”, he said.
The firm is investing Halder Gimv Germany II, a €325 million 2009 vintage. Gimv is an LP in this fund, but is no longer a sponsor and cornerstone investor. Approximately 44 percent of capital has been deployed and the investment period will end in 2014, De Ridder said.
From 2007 to 2012, Hanns Ostmeier sat on the Management Board of Bundesverband Deutscher Kapitalbeteiligungesellschaften (BVK), which is the German private equity and venture capital association, and was its president since 2009. Prior to that, he was a senior managing director at Blackstone, where he led the firm’s German operations. Between 1996 and 2002, Ostmeier worked at BC Partners.
Ostmeier has “an excellent track-record” and “very strong affinity” with the German mid-market, De Ridder said. Partly due to his previous role as president of BVK, Ostmeier “has a good overview of what has been going on in the market”, he said, adding that “he’s a great addition [to the firm]”.
Halder invests in established small and medium sized enterprises with a €20 million to €400 million turnover. The firm is mainly focused on Germany, although it can also invest 20 percent in bordering countries and Italy, De Ridder said. To date, the generalist firm has done 33 investments and 29 exits. Over 20 years Halder’s net IRR was 20.7 percent, he said.