July 1st, 2024 - São Paulo, Brazil - Pedersen & Partners, a leading global Executive Search and Leadership Consulting firm, is proud to announce that it has become a member of ABVCAP, the Brazilian non-profit organization that represents the Private Equity and Venture Capital industry and promotes the development of long-term investments. 

"We are delighted to join ABVCAP. With Pedersen & Partners' extensive global experience in the private equity market, we look forward to contributing to local discussions. Moreover, through our interactions with other members, we aim to enhance our readiness to support organizations in the private investment industry with their human capital challenges,” stated Leonardo de Souza, Client Partner, and Country Manager - Brazil. 

Pedersen & Partners is a leading global Executive Search and Leadership Consulting firm. We operate 54 wholly owned offices in 50 countries across Europe, the Middle East, Africa, Asia & the Americas. Our values of Trust, Relationship and Professionalism apply to our interaction with clients as well as executives.

June 11th, 2024, Frankfurt am Main

Pedersen & Partners and CMS co-hosted the German Private Equity & Venture Capital Breakfast on 11th June 2024, in Frankfurt am Main. The event provided a lively agile atmosphere for representatives of well-known local and international private equity funds to discuss, debate, and network.

The panel discussion was co-chaired by Poul Pedersen – Executive Chairman, Pedersen & Partners, and Tobias Schneider – Partner, CMS Germany.

The panel members were:

• Anja Böhme – Investment Director, Halder
• Fritjof Franz – Partner, capiton AG
• Linda Hoegener Schinwald – Director, Deutsche Beteiligungs AG
• Jenz Krane – Head of M&A, Commerzbank AG
• Philipp von Mitzlaff – Partner, NORD Holding

Key takeaways from the event, summarised by Guido Bormann, Partner, Head of Western Europe and Country Manager, Germany at Pedersen & Partners:

• The German private equity market has seen a decline in deals in 2023, which has unfortunately failed to pick up in H1 2024. However, there is hope for improvement in H2 2024 and 2025.
• Several other private equity markets in Europe are outperforming Germany, such as Poland and Southern Europe.
• External factors that have had a negative impact on the market include increased interest rates and energy prices. There is uncertainty and risk regarding the outcome of elections in several European countries and the USA.
• A scarcity of exits is resulting in longer holding periods. Continuation vehicles are being used to ensure liquidity for LPs.
• While fundraising is easier for large-cap private equity funds, it remains challenging for smaller funds.
• In a rapidly changing macro environment, there are several windows of opportunity for attractive exits that should not be missed.
• ESG considerations continue to be of paramount importance.

Pedersen & Partners is a leading global Executive Search and Leadership Consulting firm. We operate 54 wholly-owned offices in 50 countries across Europe, the Middle East, Africa, Asia & the Americas. Our values of Trust, Relationship and Professionalism apply to our interaction with clients as well as executives.

June 5th, 2024, Abu Dhabi

Last week, we had the privilege of co-hosting the Abu Dhabi Private Markets Investment Breakfast, together with CMS Abu Dhabi. The event provided a lively atmosphere for nearly 100 representatives of leading local and international PE, VC and Sovereign Wealth funds.

The panel members were:

• Bilal Baloch – Partner, Shorooq Partners;
• Mirza Beg – Founding Partner, Ruya Partners;
• H.E. Dr. Tariq Bin Hendi – Senior Partner, Global Ventures;
• Rima Hadid – General Counsel, Emirates Investment Authority;
• Yağız Özgüven – Executive Director Private Investments, Waha Capital;
• Jean-Philippe Syed – Partner, X12 Capital;
• Miray Zaki – Managing Director, Gulf Capital;

The panel discussion was co-chaired by Graham Conlon – Partner, CMS Abu Dhabi, and Michael Al-Nassir – Partner & Head of Private Equity APMEA, Pedersen & Partners.

Key takeaways from the event:

• The MENA region is experiencing growth fuelled by local factors as well as global geopolitical factors. The business sentiment in the region is rather positive, and a continued upward trend is expected. There has been an increase in the number of M&A transactions in the MENA region, and an increase in interest from corporate investors.
• The UAE has shown itself to be resilient, and other major markets in the region are growing (KSA) or showing growth potential (Egypt). Overall, the UAE has seen a significant inflow of capital notwithstanding the geopolitical uncertainty, and there has been little direct negative impact.
• The UAE has proven to be a maturing market, with stable leadership and clear direction. This has allowed the country’s economy to remain stable and show substantial growth, with potential for more in the future.
• The UAE is a sound launchpad in the MENA region for startups due to the ease of doing business, a culture of early adoption among consumers/users, and a “regional test lab” approach.
• The region’s sovereigns are increasingly looking at #PrivateMarkets, are increasingly investing directly or co-investing in Emerging Markets (South & Southeast Asia, Africa, etc.), and at the same time increasingly recognising the importance of the SWFs investing in-country.
• There have been a number of IPOs in the GCC, but those have usually been SoEs. The private markets have seen a predominance of strategic exits and secondaries, and there have also been examples of funds buying entire portfolios.
• Healthcare in the MENA region is attracting investor interest – not only in health services, but also in HealthTech and Life Sciences R&D. There is a significant amount of R&D in the region.
• FinTech businesses have seen growth in the MENA region; they address structural inadequacies and have demonstrated consistent growth for investors and visible exit paths.
• Other key sectors that are expected to flourish include food production and food security, renewable energy, digital infrastructure and education.
• Many start-ups claim to have “AI” in their business, but the reality is that only a minority genuinely do. It’s key for their credibility that start-ups looking to fundraise are transparent about the core drivers of their business – they should not try to sell themselves as doing something which they actually aren’t.
• While the central banks have been hesitating to lower interest rates, there is pressure to do so. The markets are expecting it to happen, although it is difficult to predict when.

Pedersen & Partners is a leading global Executive Search and Leadership Consulting firm. We operate 54 wholly-owned offices in 50 countries across Europe, the Middle East, Africa, Asia & the Americas. Our values of Trust, Relationship and Professionalism apply to our interaction with clients as well as executives.

April 18th, 2024, Vienna

Pedersen & Partners and CMS co-hosted the Austria & CEE Private Equity & Venture Capital Breakfast today, welcoming nearly 100 attendees from Austria, CEE and the other DACH countries. The event provided a lively and agile atmosphere for representatives of well-known local and international private equity funds to discuss, debate, and network.

The panel members were:

• Thomas Brake – Investment Director, capiton AG;
• Franz Hörhager – Founding Partner & Chairman, Accession Capital Partners;
• Benjamin Hubner – Managing Partner, Sophora Unternehmerkapital;
• Daniel Jennewein – Managing Director, AG Capital;
• Gregor Nischer – Managing Partner, MP Corporate Finance GmbH;
• Philipp Schupfer – COO, Board Member, Invest Unternehmensbeteiligungs AG;
• Anthony Stalker – Partner, CEECAT Capital;
• Katerina Zenz – Head of Austria & CEE, Mutares.

The panel discussion was co-chaired by Poul Pedersen – Executive Chairman, Pedersen & Partners, and Alexander Rakosi – Partner, Head of Private Equity, CMS.

Key takeaways from the event are summarised by Katharina Kaiser, Country Manager Austria at Pedersen & Partners:

• After three years of significant external impact from Covid, the war in Ukraine and inflation, the market is now “normalising” and deal activity is picking up.
• Add-on acquisitions are on the rise.
• Focus sectors include Industrial, Business Services and Life Sciences. For special situation funds, the Automotive sector is interesting.
• Fundraising is currently easier for large cap private equity and credit funds.
• In a rapidly changing macro environment, there are windows of opportunities for attractive exits. The value creation plan needs to be flexible in order to ensure that these exit opportunities are not missed.
• ESG is very important, with a focus on actual implementation over formalities. Portfolio firms with strong ESG policies gain a talent attraction benefit.

Pedersen & Partners is a leading global Executive Search and Leadership Consulting firm. We operate 54 wholly-owned offices in 50 countries across Europe, the Middle East, Africa, Asia & the Americas. Our values of Trust, Relationship and Professionalism apply to our interaction with clients as well as executives.

November 16th, 2023, Madrid

Today, Pedersen & Partners, in collaboration with CMS, hosted the Spanish Private Equity & Venture Capital Breakfast. The event fostered a dynamic environment, facilitating engaging discussions and valuable networking opportunities for international private equity leaders.

The panel discussions were led by:

• José Arango López de Letona – Partner, Teset Capital
• Leticia Bueno – Partner, Co-Head of the Junior Fund, Oquendo Capital
• Manuel Blanco – Founding Partner, ABE Capital Partners
• Jose Megia – Investment Manager, Charme Capital Partners
• Juan Eusebio Pujol – Operating Partner, Miura Partners
• Agustin Vitorica – Founder & Co-CEO, GAWA Capital

The panel discussion was co-chaired by:

• Alvaro Arias – Partner, Head of Private Equity Practice, Pedersen & Partners
• Ignacio Zarzalejos – Partner, Corporate/M&A, CMS

Here are the main key findings summarized by Alvaro Arias:

• Amidst a volatile macro environment, this year posed challenges in fundraising. Inflation and soaring interest rates escalated debt expenses, affecting potential investments and M&A activities. Spain, however, emerged as an inviting market with a rising GDP and positive global recognition. • The Private Equity landscape witnessed increased capital infusions in portfolio companies while experiencing a 30% dip in M&A operations. Amid rising prices, profitability risks loom large in future investments. Despite this, the industry remains optimistic for growth in 2024, pinning hopes on potential interest rate declines.
• Spain's Impact Investment scene has surged tenfold, underlining a remarkable shift toward responsible investing and burgeoning emphasis on ESG considerations. Long-term infrastructure investments benefited from rising interest rates, focusing on enduring returns.
• Central to successful investments is the alignment of management teams. CEOs' investment alongside Private Equity partners underscores long-term commitment and alignment.
• The rise of Operating Partners in Spanish Private Equity signifies a strategic move toward closer alignment and hands-on management for optimized profitability.

Pedersen & Partners is a leading global Executive Search, Leadership Consulting and Board Services firm. We operate 54 wholly owned offices in 50 countries across Europe, the Middle East, Africa, Asia & the Americas. Our values Trust, Relationship and Professionalism apply to our interaction with clients as well as executives.

November 8th, 2023, Amsterdam

Pedersen & Partners together with CMS Netherlands hosted today the Benelux Private Equity & Venture Capital Breakfast. This well-attended event created a lively and agile atmosphere from renowned international private equity funds to discuss, debate, and network.

The panel discussions were led by

• Erik Fuchs – Head of Benelux, Ufenau Capital Partners
• Daan Gankema – Investment Director, Inflexion
• John Luijs – Partner, DELTA Equity Partners
• Brigitte van der Maarel – Managing Partner Karmijn Kapitaal
• Gerald Nijdam – Managing Director, Lazard
• Richard Reis – Partner, Argos Wityu
• Wouter Snoeijers – Senior Managing Director, Investment Originations
• Sander van Woerden – Founding Partner, Lexar Partners

The panel discussion was co-chaired by

• Mark Ziekman – Partner, CMS Amsterdam, and
• Poul Pedersen – Executive Chairman, Pedersen & Partners.

Here are the key takeaways summarized by Hans Lodewijks, Country Manager, Pedersen & Partners:

• External factors, such as high-interest rates, military conflicts, and low unemployment rates, have negatively impacted deal activity.
• While quality deals still attract considerable attention and good valuations, they are becoming less common.
• Leverage has become more expensive, and the IPO exit path is currently closed. The use of continuation funds is increasing
• Many funds have lots of dry powder, and new Benelux funds are still being raised
• ESG considerations, including diversity, are considered highly important among Benelux private equity and venture capital players. 

Pedersen & Partners is a leading global Executive Search, Leadership Consulting, and Board Services firm. We operate 54 wholly owned offices in 50 countries across Europe, the Middle East, Africa, Asia & the Americas. Our values Trust, Relationship and Professionalism apply to our interaction with clients as well as executives.

On 3rd of October, 2023, Pedersen & Partners, together with CMS, hosted the annual Italian Private Equity & Venture Capital Breakfast. The event was a rich exchange of insights on Private Equity and Venture Capital market trends, prospects, and critical issues in valuation, deal origination, and portfolio enhancement.

The event was moderated by Bruno Pastore, Client Partner, Country Manager for Italy at Pedersen & Partners, and Paolo Scarduelli, Partner at CMS, and had the following professionals as experts:

• Marzia Bartolomei Corsi – Senior Partner, Fondo Italiano d'Investimento SGR
• Marco Carotenuto – Managing Director and Board Member, Clessidra Private Equity
• Giuseppe Donvito – Partner, P101 Venture
• Valentina Franceschini – Senior Partner, Wise Equity SGR
• Andrea Mazzucato – Managing Partner, 21 Invest
• Giorgio Mercogliano – Managing Partner, Equinox
• Francesco Orsi, Managing Director, Eurazeo
• Fausto Rinallo – Founding Partner, Ethica Group
• Mauro Roversi – Founding Partner and Chief Investment Officer, Ambienta

Here are the main takeaways:

• Italian Market Resilience: The Italian market has trended more positively than the European market in 2022-23. Contributing factors include the predominance of the primary market over the secondary market, an increased openness of entrepreneurs to engage with PE firms, and generational transitions within businesses.
• Diversity in European Markets: For example, the French market is noted for its maturity and transactional nature, while the German market shows complexities and a strong domestic focus.
• Environmental, Social, and Governance & Sustainability: These principles are the new norm; ESG-compliant companies enjoy a competitive advantage, and sustainability is now recognised as a driver of company growth.
• Fundraising Challenges and Opportunities: Fundraising in 2023 has become more challenging, with limited partners (LPs) demanding higher returns and a stronger fund track record. However, opportunities are emerging as alternative LPs such as Family Offices, Pension Funds, and Insurance Companies become more active. International LPs are also showing a growing interest in the Italian market.
• Venture Capital Market in Italy: Fewer Italian VC investments are observed, compared to mature global and European markets such as France, with government support primarily directed towards Small and Medium Enterprises (SMEs) rather than startups.
• Opportunities for Venture Capital and Private Equity Markets: Increased government support, cross-collaborations between PEs and VCs, and internationalisation are identified as winning strategies for startups and SMEs.
• Trends in Deal Sourcing: Entrepreneurs are taking a more active role in discussions with Private Equity firms. PE investments are seen as drivers for company growth, and managers are increasingly crucial to the deal origination and company growth. Competition for quality companies is rising, and there may be valuation mismatches between entrepreneurs and buyers. On top of that, a focus on additional deals in the same industry is growing, due to increased market knowledge.
• Private Equity vs IPO: Private Equity firms are considered the preferred choice for fostering company growth. As well as capital, they offer expertise and a managerial culture that contributes to long-term success.
• Private Equity Portfolio Trends: PE portfolios are holding excellent companies for longer periods, waiting for the right offers, and continuing value creation. M&A activities are being used strategically to create value, focusing on synergies within the portfolio companies. Integration and effective management are seen as crucial elements in value creation.

Pedersen & Partners is a leading global Executive Search, Leadership Consulting and Board Services firm. We operate 54 wholly owned offices in 50 countries across Europe, the Middle East, Africa, Asia & the Americas. Our values Trust, Relationship and Professionalism apply to our interaction with clients as well as executives. More information about Pedersen & Partners is available at www.pedersenandpartners.com

June 21, 2023 – Pedersen & Partners in association with CMS Germany hosted the eighth German Private Equity & Venture Capital Breakfast in Munich. The event provided a dynamic and agile atmosphere for representatives of well-known German and international private equity funds to discuss, debate, and network.

The Private Equity & Venture Capital Breakfast gathered attendees from private equity, venture capital, credit funds, portfolio firms and other professionals. The panel discussion was co-chaired by Tobias Schneider (Partner, CMS) and Poul Pedersen (Executive Chairman, Pedersen & Partners). The panel consisted of: Christopher Apfel (Vice President, General Atlantic); Oliver Diehl (Managing Director, Jefferies); Hans Haderer (Partner, Ambienta); Matthias Kreye (Managing Director, Deutsche Invest Mittelstand); Itziar Estevez Latasa (Partner, IRIS); Johannes Laumann (Chief Investment Officer, Mutares); Philipp Schult (Director, AlixPartners) and Jens Westernhagen (Partner, Armira).

The main takeaways from the lively panel discussion:

• The average M&A deal value has decreased significantly in Germany in 2023, due to falls in both volume and valuation. Defensive sectors such as healthcare are holding up, but there are declines in growth sectors such as technology. However, interesting M&A deals are still being completed even in this down market, such as Carrier’s 13 billion EUR acquisition of Viessmann.
• Portfolio firms need to focus on the core business and cash generating activities. It is critical to combine the right executive leadership team with clear shareholder communication.
• Funds that are focused on distressed firms are seeing increased deal flow.
• Leverage is available, but more expensive than previously, and not necessarily obtained from banks.
• Although the market is down in 2023, there is a silver lining with a recent uptick in IPO processes and M&A activity. There is hope for a better market ahead, but funds are planning for different scenarios, including a further deterioration.

We extend our sincerest gratitude to the panellists, co-chairs, and our event partners at CMS Germany for their invaluable contributions in ensuring the ongoing success of the eighth German Private Equity & Venture Capital Breakfast event.

The third MENA Private Equity Breakfast, hosted by Pedersen & Partners and CMS MENA (UAE) LLP on May 31, 2023, addressed several key discussion topics relevant to the industry.

Senior decision-makers from Private Equity, mezzanine and venture funds, asset managers, financial institutions, advisory firms, family offices, and portfolio companies gathered in Dubai to engage in insightful conversations and exchange opinions on industry trends.

Moderated by Michael Al-Nassir, Partner and Head of Private Equity APMEA at Pedersen & Partners, together with Graham Conlon, Private Equity / M&A Partner, CMS (UAE) LLP, the panel included:

• Semih Gökmen – Managing Director, A.P. Moller Capital
• Zahid Kamal – Managing Director, Fajr Capital Group
• Taimoor Labib – Founding Partner, Head of Middle East & North Africa (MENA) and Chairman of Africa, Affirma Capital
• Omer Mahdi – Head of Middle East, M&A and Transaction Solutions, Aon
• Asaad Salhab – Senior Operating Partner, Gulf Capital Ltd;
• Ankit Sarwahi – Partner, MEVP
• Abdulaziz Shikh Al Sagha – General Partner, BECO Capital

Michael Al-Nassir had the following key takeaways from the lively debate:

• Positive outlook for early-stage, growth, and buyout investment and M&A activity in the MENA region.
• Increasing use of warranty & indemnity insurance.
• Growing emphasis on value creation, with particular focus on high-performing leadership teams.
• ESG (Environmental, Social, and Governance) considerations are increasingly prominent.
• The fundraising environment is witnessing heightened interest from institutional limited partners (LPs).
• Outbound investment destinations are shifting focus towards Africa and Southeast Asia.

We extend our sincerest gratitude to the panellists, co-chairs, and event partners at CMS (UAE) LLP for their invaluable contributions in ensuring the ongoing success of the third MENA Private Equity & Venture Capital Breakfast event.

Pedersen & Partners together with CMS von Erlach Partners hosted today the 2023 Swiss Private Equity & Venture Capital Breakfast. The event provided a lively and agile atmosphere for representatives of well-known Swiss and international private equity funds to discuss, debate, and network. The very recent UBS-Credit Suisse takeover had a clear impact on the debate.

The event gathered more than 130 attendees to ensure a range of perspectives, and the panel discussions were led by Sebastian Becker – Partner, Redalpine Venture Partners; Marc Erni – Partner Direct Investments, Verium; Matthias Fehr – Head of Private Equity, HBM Partners; Christian Fuessinger – Managing Partner, Helvetica Capital; Gaël Jacquemettaz – Head of Private Equity & Mid-Market M&A, UBS Switzerland; Jan Kollros – Managing Partner, Bellevue adbodmer; and Roumyana Schnettler – Partner, capiton. The panel discussion was co-chaired by Daniel Jenny – Partner, CMS von Erlach Partners and Poul Pedersen – Executive Chairman, Pedersen & Partners.

The top four takeaways:

1. The Silicon Valley Bank (SVB) collapse has had a direct impact on the portfolio firms of Swiss venture capital funds. Many Swiss venture portfolio firms held significant deposits with SVB, and important lessons have been learnt.
2. The ongoing UBS-Credit Suisse takeover is having a negative impact on the Swiss private equity market, and as a result, there will be less competition among leverage providers.
3. As investors seek to generate liquidity, “Continuation Funds” are hot and growing fund products on the Swiss market.
4. There is strong deal activity in the small deal segment; less so in the medium and larger segment.

Pedersen & Partners is a leading global Executive Search, Leadership Consulting and Board Services firm. We operate 54 wholly owned offices in 50 countries across Europe, the Middle East, Africa, Asia & the Americas. Our values Trust, Relationship and Professionalism apply to our interaction with clients as well as executives. More information about Pedersen & Partners is available at www.pedersenandpartners.com