Arcano and Adveq among backers of Emeram GP-led – exclusive

The German GP is understood to be working with advisor Park Hill on a tender offer process on its sole fund.

A consortium of secondaries firms is set to back a GP-led process on a German buyout manager’s sole fund, first reported in January by Secondaries Investor.

Arcano Capital, Schroder Adveq and Unigestion are buying stakes from exiting limited partners in a tender offer on the 2013-vintage Emeram Capital Partners Fund I and providing capital for additional investments, according to a source familiar with the matter.

Total deal value is around €50 million, Secondaries Investor understands. It is not clear if these are the only investors.

Munich-headquartered Emeram Capital Partners wanted to inject more capital into the fully called 2013-vintage fund and make additional investments before the launch of a new fund, the source said.

It is understood Emeram has been working with advisor Park Hill.

Fund I raised €350 million by final close in 2014, having launched the year before, according to PEI data.

Assets include wire products manufacturer Drahtzug Stein Holding and kite-surfing and windsurfing equipment manufacturer Boards & More, according to the firm’s website.

Recent GP-led processes involving German firms include LGT Capital Partners and Idinvest Partners‘ February 2018 transaction on a 2008-vintage fund managed by Frankfurt-headquartered Halder, as Secondaries Investor reported. The buyers acquired stakes in Halder-GIMV Germany II, which had its life extended by two years and committed capital for new investments.

Emeram and Arcano declined to comment. Unigestion, Schroder Adveq and Park Hill did not return requests for comment