RCS - SGT German Private - Closing of the merger
+++ Press release +++
Closing of the merger of former German Startups Group
with SGT Capital to form SGT German Private Equity GmbH & Co. KGaA- Market capitalization increased six-fold to just under 100 million EUR
- Creation of an international, listed private equity asset manager based out of Germany
- Generation of sustainable, predictable profitability and new growth perspectives
- Progress in the fundraising for its new private equity fund
Frankfurt/Main, 26 January 2021 - Today, SGT German Private Equity completed its merger with SGT Capital Pte. Ltd. by the registration of its capital raise against contribution in kind in the commercial register. SGT Capital's seasoned team of private equity professionals has an excellent track record in private equity investments, having invested in companies in Europe, Israel and the USA from 2015 to early 2020.The merger results in an international, listed private equity asset manager based out of Germany. The merged company expects sustainable, predictable net profits from market standard asset management fees of approximately 0.20 to 0.80 EUR p.a. from 2022 onwards, depending on the raised fund volume. In addition, the merged company has the potential to generate earnings from other assets of SGT German Private Equity of about 25 million EUR, in particular the investments in German tech growth companies of the wholly owned subsidiary German Startups Group VC GmbH.
The market capitalization of SGT German Private Equity has risen six-fold to just under 100 million EUR as a result of the transaction. The management expects the trading liquidity of SGF shares to increase significantly compared to the past.
Already in November 2020, the managing general partner has changed its company name to SGT German Private Equity Management GmbH. SGT Capital LLC acquires a 75% stake in it with today's effect. Carsten Geyer, Managing Partner of the SGT Capital Group, joins the management board of the general partner SGT German Private Equity, alongside the present Managing Director Christoph Gerlinger.
Assuming the special lockdown situation in Europe ending soon, the 100% subsidiary SGT Capital Pte. Ltd., a global alternative investment and private equity asset manager, headquartered in Singapore, expects the postponed first private equity transaction for its private equity fund investors to be caught up in spring 2021.
Regarding its fundraising activities, SGT Capital is making good progress and, despite pandemic-related delays, has gained further investor commitments for its new private equity fund. It expects a so-called "first close" of the fund in the second quarter of 2021. For the first close, the company still intends to have at least 1 billion USD capital under management. Two thirds of this amount have now already been confirmed, plus intentions for another 200+ million USD.
Investor Relations Contact
SGT German Private Equity
Florian Dammann
ir@sgt-germanpe.com
www.sgt-germanpe.com
This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.ENDNRABFMFTMTITBBB
