Non-listed investments can make valuable contributions to optimizing returns and risks. Non-listed investments can make valuable contributions to optimizing returns and risks.
Non-listed investments can make valuable contributions to optimizing returns and risks.

Private Equity Management

Be it private equity or a direct stake in a company, renewable energy, forestry or shared ownership of a ship: Private, not publicly listed and traded investments can make a valuable contribution to optimising returns and risk. Selected carefully, they can positively influence the overall yield of the asset portfolio whilst stabilising the overall value of the assets. However, this heterogeneous and non-transparent asset class demands higher standards of expertise and greater proximity to the market. It renders expert analyses and management of such investments invaluable.

Marcard, Stein & Co opens up this asset class to investors. During an ongoing exchange with our clients, we can develop an investment strategy and analyse and manage the investment over its full term as part of our private equity management service.

High transparency and opportunities to influence
'By directly structuring investments as club deals, we can accommodate our investors’ desire for high transparency and influence over the illiquid investment with a long-term investment horizon.’
Dr. Claus Roggatz, Head of Department Private Equity Management


Expertise and Long-standing Contacts

When analysing and structuring investments, Marcard, Stein & Co makes use of its expertise as well as its long-standing relations with initiators, investment firms, offices and tax advisers. This enables us to filter the thousands of options available on the market each year, select several hundred attractive investment opportunities and subject around 15% of them to an in-depth analysis.

In line with the overall investment goal, we apply the following principles to the analysis of the investment: Both the investment segment and the initiator should be established for several years. This includes demonstrating a track record of the asset class and of the investment manager by providing clear evidence of the performance of existing investments. The examination of compliance with ethical and ecological standards is also becoming an increasingly important part of due diligence. In particular, fund initiators are paying attention to the obligation to observe ESG standards (Environmental, Social & Governance). The examination of direct investments can take up these topics in an environmental due diligence and the illumination of legal facts.

These high quality standards for investments often mean that only a fraction of the original selection of investments is deemed suitable for the client’s investment.


Direct Investments

Given their frequently entrepreneurial backgrounds, our clients also acquire selected direct stakes in companies. Marcard, Stein & Co can provide support in completing the transaction and in managing the direct investment with its excellent expertise, profound experience and unrivalled contacts.


Comprehensive Range of Services

With its private equity management services, Marcard, Stein & Co is currently supervising around 500 different investments in various asset sub-classes across its portfolio of clients. Private equity management includes:

  • regularly evaluating investment reports,
  • coordinating with the investment manager or initiator, especially in difficult market phases,
  • creating proposals,
  • if requested, representing the interests of the client at shareholder events,
  • including the shares in the overall asset reports.

To carry out these tasks, we regularly determine realistic fair values for the investments on the basis of findings from our ongoing observation of the asset class and calculated future cash flows from the investment. This allows us to determine the performance contribution of the investment and integrate it into liquidity management on the overall assets level.

Ultimately, our high-quality private equity management services represent the second crucial pillar of private equity management alongside investment analysis and structuring. It ensures that the investment is transparent and easily accessible not only when the decision is made to invest, but also across the entire investment horizon.

Further Topics at a Glance

A family office can be an ideal partner and support you and your family on many levels.
Any form of intensive cooperation requires mutual understanding at the level of shared values.
Our clients are looking for support with very different issues. Independent advice and moderating support can be useful here.
With our comprehensive range of advisory services, we can meet the challenging task of safeguarding larger assets over several generations.
We will be happy to take the time to provide you with more detailed and individual information and answer all your questions in a personal meeting.