Investment Team
The team held strong UK advisor coverage (97%) and progressed two platform deals, but pace against the 12-IC1 target is behind plan and the MPLC process has slipped. Europe coverage is recovering fast but not yet at 90%. Focus for Q4: convert the German deal and rebuild Benelux coverage.
Europe's #1 tech PE investor
Open the Paris office
65%Fit-out is underway for a 20 July completion, with the launch advisors' event confirmed for 1 September. Lease and IT are done; furniture is the last dependency.
Sign a France investment lead
40%Two candidates progressed to second round. Offer expected in September, in line with plan.
Rebuild Benelux advisor coverage (6 to 15)
45%Coverage rebuilt from 6 to 11 named advisors; five more in progress. Behind the August target - added resource next month.
Onboard Boris in the Munich office
90%Contract signed; systems access provisioned. Starts Monday in Munich, shadowing Milan for the first fortnight.
Open Munich office
90%Open Stockholm office with launch event
60%Exit surplus Bannerflow contractor by year-end
20%Build DACH deal pipeline for H2
50%Hire Europe investment lead
60%Launch Italy coverage
40%Reaccelerate Benelux pipeline
45%Triage new situations within 7-10 days
50%Deliver 8 IC1s for the year (Europe)
50%Fix Benelux advisor long-tail coverage
40%Hold Europe top-team coverage at 97%
90%Bed in early French associate hire
100%Deliver 12 IC1s this year (UK)
45%Define UK origination process split (Carl/Gareth)
30%Hire additional UK investment lead (SL3)
40%Hire two UK investment support
10%Complete Fee's top-team handover
20%Standardise investment-lead KPIs across firm
70%70% YoY growth in invested capital
Close the Bannerflow platform deal (DE)
70%Offer moved to 145 (from 130). Confirmatory DD is running to an end-of-August signing; the debt package is the gating item.
Land the MPLC platform deal (UK)
30%MPLC has slipped - the vendor paused the process. Re-engagement planned, but the deal now sits against the June deadline to protect the two-in-18-months KPI.
Sign new Europe platform deal by September
70%Complete a Europe deal within 12 months
30%Restructure IQ facility to enable liquidity event
25%Keep MPLC/UK portfolio at 2-deals-per-18-months
50%Consistent top-quartile returns
Sequence Fund I exits to lock top-decile (<10 yr)
55%Exit sequencing agreed with two processes prepped for H2. On track to lock top-decile within the 10-year window.