German private equity house Aurelius is looking to expand beyond its usual German speaking client and investment base. The target of their attention is London and the United Kingdom as a whole, reports the Private Equity News website.
Aurelius is currently in the early stages of establishing itself in the U.K., and are looking to grow their team in the near future. The decision of Aurelius to add a headquarters in London isn’t related to the U.K. capital’s position as a financial centre, but owes itself to a business decision to target investment opportunities across the UK.
Tristan Nagler, who has led the firm’s London office since his hiring in January, told Private Equity News, “If we find the deal flow I’d expect us to hire quite aggressively in the coming years.“The reason we like investing in the U.K. is the scale of the opportunity, [and] the number of investable businesses in the market.”
The website reports that Aurelius have cash reserves of €220million and is looking to invest in underperforming companies in a number of industry sectors. It is unknown whether Aurelius will be looking at complete buy-outs or mergers and acquisitions, or whether they will simply be looking to take a stake and influence the running of the company.
Another reason for their decision to base themselves increasingly in London is that the majority of their investor base is in the U.K. and the United States, as opposed to mainland Europe. Aurelius could certainly be onto a big opportunity by looking at the U.K. market.
They have “looked before they leap” with two existing investments, although it is unknown how well these have performed. The fact Aurelius is now targeting a bigger U.K. presence certainly indicates that they have seen some promise from these, and are looking to capitalise further now and in the future.