Key Takeaways
- • Lennertz & Co., a Hamburg-based family office founded by former UBS Group AG banker Philipp Lennertz, has collected nearly €20 million (about $20 million) so far for its third European private-equity fund-of-funds, Lennertz & Co. PE Europe III GmbH.
- • The fund has a target of raising as much as €50 million, with commitment collection beginning in May 2022.
- • The firm is positioning the vehicle to take advantage of investment opportunities created by recent market volatility and depressed valuations, according to Oksana Tiedt, head of fund investment at Lennertz.
Summary
Lennertz & Co., a family office based in Hamburg, Germany, is raising a new private-equity fund to capitalize on investment opportunities created by recent market volatility and depressed valuations, according to The Wall Street Journal. The firm was founded by Philipp Lennertz, a former banker at UBS Group AG.
According to Oksana Tiedt, head of fund investment at the firm, Lennertz has collected nearly €20 million, or about $20 million, so far for its third European private-equity fund, Lennertz & Co. PE Europe III GmbH. The firm began collecting commitments for the vehicle in May 2022 and is targeting up to €50 million in total commitments.
The fund is structured as a fund-of-funds, following two previous European private-equity vehicles raised by the firm. The current fundraising reflects the family office's strategy of deploying capital into private-equity opportunities during a period of market dislocation.
According to Oksana Tiedt, head of fund investment at the firm, Lennertz has collected nearly €20 million, or about $20 million, so far for its third European private-equity fund, Lennertz & Co. PE Europe III GmbH. The firm began collecting commitments for the vehicle in May 2022 and is targeting up to €50 million in total commitments.
The fund is structured as a fund-of-funds, following two previous European private-equity vehicles raised by the firm. The current fundraising reflects the family office's strategy of deploying capital into private-equity opportunities during a period of market dislocation.
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