Oakley Capital Private Equity has opened its first international office in Munich.
The London-headquartered mid-market firm’s Germany bureau will be led by partner Ralf Schremper, a mergers and acquisitions specialist who joined the firm last year, according to a statement. Schremper will oversee a German-speaking investment team with an emphasis on new investments and value creation.
Oakley’s current investment portfolio includes the German businesses Schülerhilfe, a provider of after-school tuition, and Career Partner Group, a private higher education and personnel development business.
Oakley primarily invests in the UK, Germany, the Netherlands and northern Italy. It has not invested in the UK market since July 2015, according to its website. Fund III, an €800 million 2017-vintage vehicle, is understood to be more than 60 percent invested. The 2013-vintage €524 million Fund II completed one UK deal, compared with the three UK-based businesses that Fund I acquired.
Though Oakley continues to consider UK deals, many of these are now subject to competitive auction processes, which the firm avoids in all markets, PEI understands.
The firm is also understood to be considering its first Spanish investment.
Founded in 2001, Oakley has over €1.5 billion under management. Its realised investments had achieved a 44 percent gross internal rate of return, 2.5x money multiple and returned around €780 million to investors since inception, according to an October 2017 statement.