Large private equity firms start new initiative under the roof of the German Private Equity Association

Buyout heavyweights active in Germany are determined to better explain their business to the public. Therefore, ten big firms started a new initiative under the roof of the German Private Equity and Venture Capital Association (BVK) in June this year.

“Many people do not exactly know what private equity means and why this industry is so important for the economic growth of Germany.”, says Hanns Ostmeier from Blackstone Deutschland who will chair the newly founded group and make this activity his main professional focus for the coming years.

The Large Buyout Group’s mission is to enable a qualified dialogue with the  public and to better explain facts about their industry.  First ideas to this end are an extended website and special events.  “With these plans we want to meet the need for information of political and economic decision-makers”, Ostmeier emphasises,  “but we also want to address all those who are curious to know what private equity really is about.”  In addition the group which is estblished as a division, named Large Buyouts, of the German Private Equity and Venture Capital Association plans to commission empirical studies on the economic impact of private equity from independent research institutes. To enable this the member firms have decided to contribute raw data about their investments in Germany. This is the first time such a pool of information will be created and made accesible to qualified research institutions.

“We very much welcome that the large buyout firms commit themselves in our association to better explain their job and the private equity industry in general.” says Rolf Christof Dienst, Chairman of the BVK Board.  “The growing economic impact of private equity makes it necessary for our industry to improve communication and get into dialogues with all those who are interested in this topic.”

Members of the group are Blackstone, Allianz Capital Partners, Apax Partners, Advent International, Bain Capital, BC Partners, CVC, KKR, Permira and TPG.  Hanns Ostmeier took over the chair of the new division from Jens Reidel and will succeed Reidel in the BVK board.  “The members are very happy to have Hanns Ostmeier chairing their group.  Ostmeier is an industry insider and will focus his professional attention to the new initiative”, Jens Reidel comments.

With this new initiative the BVK now has four divisions under his roof: Early Stage, Later Stage, Publicly Supported Private Equity Firms (MBG) and Large Buyouts.