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DBAG ECF FIRST NEW VINTAGE

DBAG ECF FIRST NEW VINTAGE invests in minority positions in mid-market family-owned businesses and also makes majority investments in the form of management buyouts with an enterprise value of up to approximately 75 million euros. The equity capital investments per investee business gener-ally range between 10 and 30 million euros. The fund invests directly in equity, equity-like and comparable instruments with equity-like returns.

The fund primarily seeks to invest in companies that are either headquartered or have significant business activities in Germany or other German-speaking countries, that is, in the DACH region.

KEY FACTS DBAG ECF FIRST NEW VINTAGE

Statusactive
Start of investment period2017
Committed capital€85mn,
thereof €35mn by DBAG

Since 2007, the investors renew their capital commitments every two years at the start of a new vintage. The fund can thus commit to investments with a term of about ten years, which is important especially for growth financings.

DBAG ECF’s new vintage runs from June 2017 to December 2018; after that, further two-year vintages are projected. The capital committed currently of 85 million euros corresponds to a fund size of approximately 270 million euros relative to a five-year investment period.