SGT German Private Equity, formerly German Startups Group renamed after the merger with SGT Capital, will become a listed private equity asset manager. The company will manage a PE fund, currently in fundraising phase. SGT also manages a VC portfolio of minority stakes in non-listed entities, predominantly technology businesses.
Investment summary
SGT German Private Equity (SGT) reported a €0.7m net loss in FY20 compared to €3.7m loss in FY19 (excluding the deconsolidated Exozet). The company finalised its merger with SGT Capital in January 2021 and expects the first close of the PE fund in the coming weeks with c US$1.0bn in funds and subsequently to start collecting management fees. SGT expects to close several PE transactions on companies with an enterprise value of €200–800m by the end of FY21 and the asset management business should drive its results going forward. Meanwhile, the VC portfolio is gradually being sold off.
