GEM Benelux hires Waterland exec

Gilde Equity Management Benelux (GEM Benelux), a lower mid-market firm based in the Netherlands, has hired Frédéric Van den Weghe as partner.

Van den Weghe, who joined GEM Benelux on 1 June, was previously at Waterland Private Equity where he worked from 2005 to 2013. At Waterland, Frédéric co-led a number of investments including Senior Living Group, Infra Group and Medhold.

Prior to Waterland, he spent four years at Baker & McKenzie as a corporate and M&A lawyer.

“With recent investments in Actief Interim, Sovitec, Hamal Signature, All Crump and ISFI, our team has gained strong experience in Belgium private equity, and we have grown into a true Benelux firm. 

The addition of Frédéric underscores our determination to further strengthen our position in Belgium,” Gerhard Nordemann, GEM Benelux’s managing partner, said in a statement.

The appointment of Van den Weghe comes after GEM Benelux prepares to close its third fund on its €275 million hard-cap, PEI revealed last month.

The firm started talking to existing investors last year and only officially came to market in April, when it published a private placement memorandum, according to sources familiar with the matter. The firm is currently wrapping up the legal paperwork ahead of an official first and final close, which will be held this month.

GEM Benelux was originally part of Gilde, one of the oldest private equity firms in the Netherlands, founded in 1982. In 1996, the firm split up its operations into three independent firms: Gilde Equity Management, Gilde Healthcare and Gilde Buy Out Partners.

GEM Benelux targets “profitable companies run by motivated and experienced managers who possess entrepreneurial zest”, according to its website. It typically invests in growth businesses with a strong niche market position, a proven track-record and sustainable cash flows. It targets companies with enterprise values of between €15 million and €150 million.