+++ Press release +++
SGT German Private Equity – major fundraising milestone imminent
Frankfurt/Main, 23 June 2021 – SGT Capital Pte. Ltd. (SGTPTE), 100% subsidiary of SGT German Private Equity, has gained ground with its fundraising and confirms its previously communicated target of having a first close of its private equity fund in summer 2021 with capital commitments of at least 500 million USD, on top of separate prior commitments of 480 million USD. For the first close, SGTPTE has firm verbal commitments from 10 renowned cornerstone investors amounting to more than 350 million USD. SGTPTE is currently formalising those commitments. To conclude the first close, an already defined group of investors with commitments of 225 million USD will be signed up after the cornerstone investors and will join them in the first closing.
Additionally, SGTPTE is in active dialogue with more than 100 institutional investors who typically engage after the first close. Those investors represent more than 1.5 billion USD of potential subscription volume. Over the last three months, SGPTE has roughly doubled both the number of such interested investors as well as their potential total commitments to its platform. Based on this additional investor demand, SGTPTE is establishing two parallel fund vehicles, one in USA (Delaware) and one in Europe (Luxembourg). This process will be finalized over the summer.
Concurrent to expanding institutional investor demand, SGTPTE has made significant progress with sourcing and evaluating the private equity deal flow fitting its investment criteria, and with selecting and negotiating private equity deals. It is currently participating in four “live deals” (i.e. private equity transactions) in respect of highly attractive acquisition targets, with enterprise values ranging from 200 to 600 million EUR. It aims to execute one or two of these deals in the second half of 2021. About half of the cornerstone investors of its private equity fund and other renowned investors have indicated interest in direct co-investing in parts of its private equity deal pipeline.
Together with the earlier commitments to its private equity platform amounting to 480 million USD, SGTPTE expects the Assets under Management to exceed 1 billion USD by the end of 2021 and 2 billion USD per end of 2022.
Investor Relations Contact
SGT German Private Equity