Press release issued by Orlando Management in respect of ESSVP IV
Orlando Management advises closing of fourth fund, ESSVP IV, L.P. on €320 million.
26 May 2017
St. Peter Port, Guernsey, Channel Islands (26 May, 2017) – The General Partner is pleased to announce the closing of ESSVP IV, L.P. (the “Fund” or “ESSVP IV”) on 23 May 2017 on €320 million. The closing was advised by Orlando Management AG (“Orlando”), the Munich, Stockholm and Zurich-based private equity firm focusing on special situations in the German-speaking and Nordic markets.
The success of the fundraising is attributable to significant support from existing investors, combined with overwhelming interest of new investors, which led to oversubscription. Allocation to new investors was limited to selected high quality, long-term institutional investors. Investors in the Fund include a diversified mix of endowments, foundations, insurance companies and family offices from Europe, the US, Israel and Japan.
Orlando will continue to focus on the acquisition of industrial companies in German or German-speaking “Mittelstand” countries, as well as in the Nordic region (comprising Sweden, Norway, Denmark and Finland). The Fund will invest in companies with sales up to €500 million, with a healthy core, often profitable, but usually in a situation of underperformance, balance sheet distress, untapped development potential, excess balance sheet assets or fundamental transition. Typical causes of such Special Situations include: past unproductive capital expenditure, uncontrolled expansion, insufficient cost control, unresolved succession problems, gridlock between management, share¬holders and banks, and carve-out situations. Through acting as a hands-on owner and driving change, the Fund supports the acquired companies in realising their earnings potential.
MVision Private Equity Advisers acted as the global strategic fundraising adviser for the Fund. Sonya Pauls from Clifford Chance’s Munich office and Christian Schatz from Flick Gocke Schaumburg’s Munich office acted as legal counsels.
Orlando Management AG was founded in 2001 in Munich. Orlando is a leading private equity invest¬ment advisor in Special Situations in the German-speaking (DACH) and Nordic middle market. The Munich partner team consists of five partners after the addition of two new partners in 2016, strengthening the transaction and operations team. The five partners have many years of experience managing industrial and service companies as well as in management consulting and investment banking.
Orlando Nordics AB was founded in 2016 in Stockholm as a strong footprint for replicating the successful investment strategy from DACH to the Nordic countries. Two new experienced local partners are heading the investment team with an equal focus on transaction and operations.
For further information, please contact:
Dr. Henrik Fastrich, Founding Partner and Executive Board Member of Orlando Management AG
T: +49 89 2900 4815 | E: firstname.lastname@example.org
Georg Madersbacher, Founding Partner and Executive Board Member of Orlando Management AG
T: +49 89 2900 4834 | E: email@example.com
Mounir Guen, CEO, MVision Private Equity Advisers
T: +49 89 2900 4834 | E: firstname.lastname@example.org
Or visit, http://www.orlandofund.com
This press release is not an offer of securities for sale in the United States and interests in the Fund may not be offered or sold in the United States absent an exemption from legislation.