Continued demand for alternatives in the asset classes infrastructure, private equity and private debt, delivered record results for Golding in 2019. Institutional investors entrusted the Munich-based asset manager with a total of some €1.5 billion in new capital last year. This is the best result in Golding’s successful 20-year history and confirms the company’s leading position in the European market. To build on this position going forward, the Executive Management Board was further strengthened with the appointment of CIO Dr Matthias Reicherter as the fourth Managing Partner.
Golding received commitments from more than 50 institutional investors in 2019, raising a record volume of €1.5 billion of fresh capital. Demand from institutional investors for separate managed accounts grew significantly. The independent Munich-based asset manager won eight new mandates with a total volume of €825 million, including the €170 million infrastructure mandate from the Barmenia Insurance Group.
In addition to its traditional investment programmes, Golding’s first dedicated secondaries fund attracted particular interest in 2019. Golding has been successfully investing in secondary transactions for many years and got off to a great start with fundraising for Golding Secondaries 2019.The first closing is planned for the end of the first quarter 2020 at a volume well in excess of €100 million. The launch of the latest private debt fund of funds was a notable success, continuing the proven conservative investment strategy in this asset class.
Hubertus Theile-Ochel, Managing Partner at Golding: “We are delighted that institutional investors continue to put their trust in us and appreciate our expertise in infrastructure, buyouts and private debt. Our aim is to offer our investors flexible, tailor-made solutions that enable them to generate attractive returns in a complex market environment with high regulatory requirements.”
In 2020 Golding is planning to launch additional specialised, transaction-oriented products to complement its traditional flagship fund of funds. The aim is to open up lucrative market opportunities for institutional investors, especially in the attractive co-investment segment.
Successful investment activities in a demanding environment
Last year Golding made total commitments of more than €1.1 billion to primary, secondary and co-investments on behalf of its investors across all asset classes of buyout, private debt and infrastructure. Investments were also made outside the traditional regions of Europe and North America to ensure a strong geographical diversification. Furthermore, new staff were recruited in the company’s New York office to further extend its intensive coverage of the North American market and to ensure that investors gain access to the most promising opportunities.
Dr Matthias Reicherter appointed to Executive Management Board
To support Golding’s further growth Dr Matthias Reicherter was appointed as member of the Executive Management Board of Golding Capital Partners with effect from 31 January 2020. Reicherter has been with Golding since 2011, and as CIO is responsible for all the company’s investment activities. Before joining Golding he was a Director at Barclays Private Equity/Infrastructure Funds in London and DEPFA Bank in London and Dublin, where he was responsible for the acquisition, financing and asset management of infrastructure companies in Europe and North America. “We are delighted to welcome Matthias Reicherter to our partnership. He will make a decisive contribution to expanding our position as one of Europe’s leading asset managers”, said Founder and Managing Partner Jeremy Golding.