PARTNER CONTENT
Private equity has the potential to generate strong returns, particularly in uncertain market conditions, given the right investment partners. Daniel Boege, Head of Buyout, Golding Capital outlines the elements which have been driving various aspects of this market.
In what areas has your firm experienced the most significant growth?
Golding has seen tremendous growth in our co-investments activities across all our asset classes over the last years. We continue to grow our business to cater for the increasing appetite of your investors for our co-investmepartnernt products.
The current market environment provides exciting investment opportunities in the secondaries market, especially in the small-mid cap segment. We have exciting traction with our investment strategy, especially with some new clients outside our traditional core DACH region.
Based on our strong credit heritage we have been able to win large Private Debt Managed Accounts with clients intrigued about the current market opportunities.
Can you outline the industry trends which have been driving growth and development within your firm over the past year?
ESG and impact investing have been key trends in the industry for several years. Golding has fully embraced the responsibilities of a leading asset manager encapsulated in our vision that our actions are to achieve “Impact for generations”. Consequently, we have developed dedicated an impact product with true pioneers in this space and significantly stepped-up our internal processes on all things ESG.
How have your client needs changed what has your response been in terms of your service offering?
In these turbulent times our clients’ needs have changed in 2 key aspects. First of all, they require timely expert support in addressing all the regulatory hurdles they have to address to invest in our asset classes. Secondly, they require immediate information update to assess impacts on their portfolios from external shocks like COVID, the Ukrainian war or the SVB/Credit Suisse crisis.
How can you best ensure you deliver value-add to your client base?
We stay very close to the market as we see highly attractive investment opportunities at the moment, especially in the secondaries segment. We are prepared to fight for our investors’ interest if we see our GP partners not to take necessary corrective action in struggling portfolio companies. But we are also aware that it is in the interest of our investors to support GPs in a dislocated fundraising market.
Can you list three key learnings you are passing on to clients in the current environment?
“PE is amazing” and even more in difficult times. If you invest with teams with the right expertise, values, passion and skin in the game: you will be fine
Do not try to time the market as an investor in the asset class. Getting on and off the bus in PE takes time and there is the risk that you end under it. Leave the market timing to the GPs and finetune your PE portfolio via secondaries and co-investments
And the old investment mantra remains true as ever: Diversify, diversify and diversify.
Daniel Boege, partner and head of buyout, Golding Capital Partners – Daniel Boege oined the company in 2011. He is responsible for the identification, analysis, due diligence and selection of buyout funds. Before joining Golding Capital Partners, Mr Boege gained experience as an investment professional in private equity firms over 10 years. During this time he worked for Permira in Frankfurt and Vestar Capital Partners in Munich and was involved in various national and international transactions. Mr Boege earned a BSc and an MSc in Management, with distinction, from the London School of Economics. He also holds an MBA from INSEAD in Fontainebleau.
