Oakley Capital Investments Ltd on Wednesday said it has taken part in the acquisition of Konzept & Marketing GmbH by Oakley Capital Fund V.
Oakley Capital provides access to the private equity investments of manager Oakley Capital.
Konzept & Marketing is an independent managing general agent in the German personal, non-life insurance market based in Hanover, Germany.
Oakley Capital expects to make an about £14 million indirect contribution to Fund V, which relates to its share of the investment in Konzept & Marketing.
Oakley Capital’s Co-Founder & Managing Partner Peter Dubens commented: ‘Germany’s insurance landscape is undergoing significant change, providing advantages for innovative businesses such as K&M to take on more of the insurance value chain while delivering a better service to end customers.’
Oakley Capital will invest alongside former chief executive officer of Allianz Commercial, Joachim Muller, who will take on the role of chairman.
Muller added: ‘By partnering with Oakley we can take advantage of their considerable expertise scaling businesses. We see enormous opportunity to create a leading player in Germany’s insurance ecosystem by leveraging excellence in underwriting and distribution combined with modern technology.’
Oakley Capital shares were down 0.1% at 496.49 pence in London on Wednesday morning.
Copyright 2024 Alliance News Ltd. All Rights Reserved.
