Altira AG / Miscellaneous
01.08.2008
Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Altira Group manages to significantly develop and build on its
'reorganisation and restructuring' investment strategy.
The business development company CFC Industriebeteiligungen GmbH & Co.
KGaA, which was founded by Altira Group, yesterday sold 49 percent of its
total portfolio to Palace Park Investments Ltd., Jersey, for a sales price
of EUR 22.54 million. Palace Park Investments Ltd. was specifically set up
for this transaction and is indirectly held by Greenpark Funds, Guernsey,
which specialises in secondary private equity investments.
The sales proceeds that CFC Industriebeteiligungen receives from this
transaction exceed the entire capital that it has invested to date even
though the average holding period of the investments is only one year. The
resulting IRR is more than 100 percent. CFC posted a large capital gain
following the partial sale, from which performance fees payable to the
Altira subsidiary CFC Industrie Beteiligungen Verwaltungs GmbH will be
deducted.
Andreas Lange, Chief Investment Officer of Altira Group, was very happy
with the deal: 'The sale indicates that Altira Group has the ability to
develop excellent management teams that invest in attractive niches, such
as 'reorganisation and restructuring in Germany', while creating
sustainable value for their investors.'
Altira CEO Michael Rieder added: 'We feel that the private equity
reorganisation and restructuring asset class is especially promising in the
current economic period in particular and we intend to considerably expand
our presence in this segment. The investment in Clearsight Investment AG,
Zurich, that we announced on 1 July represented the first step in this
expansion. The current transaction is an important milestone for the CFC
team, and creates a good foundation for them to significantly increase
their assets under management over the medium term. In addition, we are
actively looking for additional teams in this segment with promising
investment strategies.'
++ About Altira
The Altira Group is an owner-managed company that is simultaneously an
exchange-listed asset management company. It manages money for
institutional investors in the areas of private markets, public markets and
real estate.
The investment approaches focus on inefficient markets. Inefficient markets
are newly forming markets and regions of the future with above-average
growth opportunities as well as established markets undergoing major
structural changes. Due to their specialised knowledge and years-long
experience, the Altira teams are able to generate a sustainable
above-average risk/yield profile ('high alpha strategies') in these markets
by using an active investment approach.
The implementation into defined investment products is then handled by the
focused, independent Altira subsidiaries. Whereas the investment decisions
are independently taken in the investment teams, all of the boutique
companies have centralised access to a common, institutional
infrastructure.
Contact:
Altira Aktiengesellschaft
Juan Rodriguez
Head of Investor Relations
Tel: +49 69 719 12 80 145
E-Mail: juan.rodriguez@altira-group.de
DGAP 01.08.2008
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Language: English
Issuer: Altira AG
Grüneburgweg 18
60322 Frankfurt / Main
Deutschland
Phone: +49 (0)69 719 12 80 - 00
Fax: +49 (0)69 719 12 80 - 011
E-mail: info@altira-group.de
Internet: www.altira-group.de
ISIN: DE0001218063
WKN: 121806
Listed: Freiverkehr in Berlin, Düsseldorf, Stuttgart; Entry Standard
in Frankfurt
End of News DGAP News-Service
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DGAP-News: Altira Group: Further development of the corporate recapitalisation and restructuring
| Source: EQS Group AG