HQ Equita’s €308 Million HQ Equita V Fundraising


Clifford Chance has advised HQ Equita on the successful fundraising for its fifth fund, HQ Equita V, with capital commitments totalling EUR 308 million.

With this fund, HQ Equita continues to pursue its nearly three-decade long focus on investing in highly specialized small- and medium-sized “hidden champions” in Germany, Austria and Switzerland. By investing in targets with revenues ranging between EUR 20 million and EUR 150 million, HQ Equita is able to provide sustainable growth capital, enact succession planning solutions, and provide the network necessary to develop corporate structures and internationalize portfolio companies.

The fund’s investors include family offices, foundations, and select institutional investors, consistent with HQ Equita’s historical investor base comprised of entrepreneurial capital. With investors from both European and non-European countries committing to the Fund, HQ Equita continues to expand its international network.

HQ Equita is the mid-cap buyout firm of HQ Capital. It continues the Harald Quandt family’s tradition of acquiring entrepreneurial equity interests in small and mid-sized enterprises. Since its inception in 1992, the firm has accumulated a total of around EUR 1 billion in capital commitments.

The Clifford Chance team comprised, among others, partner Sonya Pauls (Picture), Senior Associate Ariel Nörenberg as well as Associates Konstantin Heilmann and Michael Gilmour (all Corporate/Private Equity, Munich).

Involved fees earner: Michael Gilmour – Clifford Chance; Konstantin Heilmann – Clifford Chance; Ariel Nörenberg – Clifford Chance; Sonya Pauls – Clifford Chance;

Law Firms: Clifford Chance;

Clients: HQ Equita;

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