Gilde Buy Out Partners has passed its investor relations duties to partner Karl van de Paer, who will also lead co-investment activity at the Utrecht-based mid-market private equity firm.
Combining the two roles “makes a lot of strategic sense, since a significant portion of our LPs run dedicated co-investment programs,” van de Paer, who has been at Gilde since September 2014, told Private Equity International.
“We want to make sure that co-investment opportunities are distributed fairly amongst LPs, hence the natural fit of putting this responsibility with the person who most frequently interacts with the LPs, and who in the end is also responsible for successful future fundraises,” he said.
Van de Paer succeeds Koos Teule, who also wore two hats, serving as both chief financial officer and head of investor relations during his tenure in the role; Teule is continuing as CFO, Gilde said.
Van de Paer’s experience syndicating co-investments positions him well for his dual role, Gilde said. Recent co-investments include two Germany-based businesses: affordable precious jewellery provider amor Group and Losberger, a company which makes temporary structures like party tents and trade fair halls.
Van de Paer said that “most” of the firm’s LPs have opted to co-invest. “For some it’s even their core business,” he said.
Gilde counts over 30 institutional investors in its funds, including the Los Angeles Fire & Police Pension System and the State of Wisconsin Investment Board, which are investors in its 2015-vintage, €1.1 billion Fund V, according to PEI data.
So far Gilde’s Fund V has made four investments, van de Paer said, and is more than a third invested.
Van de Paer will continue to work on deals, and in particular on Gilde’s portfolio enhancement programme, the firm said. This is a programme for supporting the management teams at Gilde’s portfolio companies, which Van de Paer was “instrumental in setting up and institutionalising,” Gilde said.
“We are now focusing on working with the individual management teams to implement our strategic roadmaps, which we call the Portfolio Enhancement Program or PEP,” van de Paer said.
Looking to the future, van de Paer said he has a number of initiatives he’d like to launch as part of his role as head of investor relations.
For example, “we’d like to be able to offer an LP call after each investment. We could have the CEO, the CFO, and the deal team on for an hour, and the LPs can dial in and ask about the investment thesis and so on,” van de Paer said.
In addition, van de Paer said that he aims to make improvements in the firm’s digital reporting and CRM infrastructure.
Gilde manages €3 billion in assets. It has offices in Utrecht, Brussels, Zurich, and Frankfurt, and a staff of around 25 investment professionals.