Key Takeaways
- Geography: Germany.
Analysis
After a successful year 2023 with €1.7 billion in new capital raised, Golding promotes Richard Wilmes, Head of Secondaries, to new partner.
Golding Capital Partners GmbH is one of Europe’s leading independent asset managers for alternative investments, focusing on the asset classes infrastructure, private credit, private equity, secondaries, and impact.
The firm has a team of more than 200 professionals at its offices in Munich, Luxembourg, Milan, Tokyo, and Zurich, Golding Capital Partners manages approximately €14 billion in assets.
After a successful year 2023 with €1.7 billion in new capital raised, Golding Capital Partners has promoted Richard Wilmes to a new partner.
In 2023, Golding raised €1.7 billion in new capital from investors. The company's infrastructure fund of funds series with a target volume of €700 million reached its first closing with capital commitments of €360 million. Additionally, the current secondaries fund has almost reached the total size of its predecessor of around €280 million and is expected to grow further to 500 million euros as planned.
Investments were made in parallel for a similar amount, with an investment volume of around €1.7 billion in 2023. The number of completed investments rose by 13 compared with 2022 to a total of 68, reflecting the company's strong investment activities.
The increasing relevance of secondaries in Golding’s P&L is shown by the increase in the investment share of secondaries, from 5% in 2022 to 13 % in 2023. This trend is expected to continue in 2024 due to favorable developments in the secondary markets.
Richard Wilmes, who is already responsible for the secondaries division, has been promoted to partner, underlining the increasing importance of transaction-oriented investments at Golding. With over a decade of pioneering work in building up the secondaries sector and his deep understanding of the market, Wilmes is seen as an outstanding expert within the company.
Commenting on the promotion, Jeremy Golding, Founder and Managing Partner at Golding, stated:
"Secondaries and co-investments already represent about 50 percent of our investments, and we have established the secondaries business at partner level to underline the relevance of transaction-oriented investments."
Wilmes, who has been with Golding for 15 years, expressed his passion for the company's success and its focus on the further development of secondary market strategies, especially in the small and midcap segment. Wilmes previously worked at Bank of America Merrill Lynch before joining Golding.