Frankfurt, 5th November 2020
+++ Prime Capital broadens shareholder structure: Executives to hold majority stake +++
– New ownership structure in line with success and growth of independent asset manager
– Shareholder structure paves way for future internal and external growth
– Strong growth in 2020 despite Covid-19 impacts
Prime Capital AG, the independent asset manager and financial services provider, who manages and administers EUR 17.7 billion in various asset classes, is broadening its shareholder base with immediate effect: 70% of Prime Capital shares will be transferred to a total of 10 executives, company founder and Chairman of the Supervisory Board Wolfgang Stolz will retain 30% of the shares. This gives long-serving executives and employees across the company the opportunity to participate in the future business success of Prime Capital. The generation change and the new ownership structure have been carefully prepared over the past 12 months with Andreas Kalusche taking over the role of CEO from Wolfgang Stolz and the expansion of the management board in October 2019. Changes in the Supervisory Board were announced a few weeks ago.
“In just a few years we have developed Prime Capital into a successful and profitable asset manager and financial services provider with over EUR 17 billion in assets under management. The new ownership structure reflects the size of the company and enables us to continue on our proven path as an independent company on a broader basis,” emphasizes founder and Supervisory Board Chairman Wolfgang Stolz.
“We want to hire and retain the best brains for Prime Capital,” emphasizes CEO Andreas Kalusche. “Opening ownership up to accomplished executives is a recognition of their entrepreneurial commitment and offers them attractive opportunities. It also enables us to offer new incentives to our talented employees for long-term commitment to Prime Capital. The new structure is also an advantage when it comes to attracting new talents and teams from outside the firm. Entrepreneurial participation is an important element in long-term employee retention and increases identification with Prime Capital. It covers all business units: Absolute Return, Infrastructure and Real Assets, Private Debt as well as the Investment Platform business including our Outsourced Asset Management”.
Regulatory approvals have been granted by all relevant regulators.
Successful growth despite Covid-19
Prime Capital has continued to grow in 2020 despite the impacts of the Covid-19 pandemic: several new funds and mandates have been launched and significant transactions completed in both the Infrastructure and the Real Estate debt segment. Most recent examples are the acquisition of a wind farm project in Sweden in October 2020, one of the largest onshore wind farms currently under construction in Europe with 372 MW, and the largest European junior debt financing to date in Renewable Energy for a 579 MW solar energy portfolio in September 2020. Both are projects that Prime Capital is implementing with experienced partners.
In the Absolute Return segment, a new product has been launched in the form of the Liquid Alternative Credit Fund, which provides innovative access to the broad credit market. The performance of the flagship product PCAM Blue Chip shows an excellent development, which once again confirms its status as one of the best fund-of-hedge funds.
New product launches are planned in Infrastructure debt and Commercial Real Estate debt; the company also works selectively on new initiatives in Private Markets.
“With the generation change and the majority shareholding of managers, we have made Prime Capital fit for the future. I am looking forward to continue the successful development of our company in the future together with the entire team,” said Kalusche. Following the broadening of the shareholder structure, Prime Capital is majority-owned by management and employees which ensures its independence in the future. Prime Capital’s business with German-speaking institutional investors and family offices will continue to form the basis of the company, at the same time the international business will expand further, both in Europe as well as in Asia and North America.
About Prime Capital:
Prime Capital AG is an independent asset management firm and financial services provider. The company specializes in Alternative Investments, in particular in Absolute Return, Infrastructure, including Renewable Energy and Private Debt. Furthermore, the company offers Investment platform business and Asset Management Outsourcing. Prime Capital was founded in 2006, currently employs around 100 people in Frankfurt and Luxembourg and is regulated by BaFin and CSSF.
As of June 2020, Prime Capital has approximately EUR 17.7 bn Assets under Management, managed and administered.
For additional information, quotes or requests please contact:
Prime Capital AG
Andreas Kalusche, CEO
For questions please refer to Jennifer Kroh
Tel: 0049 69 9686 984 411