- Kempen
- Kempen European Private Equity Fund Class B
The Kempen European Private Equity Fund held its "Final close" of the fundraising on December 13, 2019. The total committed capital amounts to € 192.5 million, which means that the maximum target size of the fund has been reached. The fund is closed to new or additional subscriptions from existing or new participants.
Profile
The objective of the Fund is to build up a portfolio of approx. 10 (within a range of 5 to 15) participations in GPs and supplemented with various co-Investments. The funds managed by private equity GPs will be selected by the management team based on, including but not limited to investment strategy, pedigree and experience of the investment team, track record, responsible investment approach, quality of the organization and service providers, and (commercial) terms of investment. The main focus is on North-Western European small and lower mid-market buyout GPs.
The Fund is closed-end.
Management team
Key figures
| Total fund size | EUR 192.50 M 2019-12-31 |
| Share class size | EUR 8.26 M 2019-12-31 |
| Number of shares | 8,548 2019-12-31 |
| Net Asset Value | EUR 941.91 2020-03-31 |
The information in this document provides insufficient information for an investment decision. Please read the Key Investor Document (available in Dutch and English) and the prospectus (available in English). These documents of the Fund are available on the website of KCM (www.kempen.com/en/asset-management). The information on the website is (partly) available in Dutch and English. The Sub-Fund is registered for offering in a limited number of countries. The countries where the Sub-Fund is registered can be found on the website. The value of your investment may fluctuate. Past performance provides no guarantee for the future.
The Fund is only available for professional investors.
The Fund is closed-end.
In Switzerland, the Statutes, the Prospectus, the PRIIP-KIDs, the Annual Report and, if applicable, the Semi-Annual Report and/or any such documents, which are required for the approval in compliance with the applicable foreign law, may be obtained free of charge from the Swiss Representative and Paying Agent, RBC Investor Services Bank S.A., Esch-sur-Alzette, Zurich Branch, Bleicherweg 7, CH-8027 Zurich. In respect of the units distributed in and from Switzerland, the place of performance and jurisdiction is the registered office of the Representative.
This investment fund is exclusively available for the client base of Van Lanschot Kempen Wealthmanagement N.V. Please ask your private banker for more details.
The information in this document provides insufficient information for an investment decision. Please read the Key Investor Document (available in Dutch and English) and the prospectus (available in English). These documents of the Fund are available on the website of KCM (www.kempen.com/en/asset-management). The information on the website is (partly) available in Dutch and English. The Sub-Fund is registered for offering in a limited number of countries. The countries where the Sub-Fund is registered can be found on the website. The value of your investment may fluctuate. Past performance provides no guarantee for the future.
The Fund is only available for professional investors.
The Fund is closed-end.
In Switzerland, the Statutes, the Prospectus, the PRIIP-KIDs, the Annual Report and, if applicable, the Semi-Annual Report and/or any such documents, which are required for the approval in compliance with the applicable foreign law, may be obtained free of charge from the Swiss Representative and Paying Agent, RBC Investor Services Bank S.A., Esch-sur-Alzette, Zurich Branch, Bleicherweg 7, CH-8027 Zurich. In respect of the units distributed in and from Switzerland, the place of performance and jurisdiction is the registered office of the Representative.
In the first period after a new investment has been made, the valuation is generally kept at cost price. Therefore, no unrealized performance results can be reported with regard to the first companies that are in the portfolio, as it simply is too early. However in the mean time, costs are incurred in the start-up phase. If the investment cash flows, costs and distributions are combined into net cash flows, this usually translates into a so-called J-curve, whereby the net cash flows in the first years are negative and only after several years as the underlying companies are valued upward and / or exited, the distributions and returns will become higher than the original capital calls, after which the real return potential becomes clear.
Dividends
| Distributing | No |
The information in this document provides insufficient information for an investment decision. Please read the Key Investor Document (available in Dutch and English) and the prospectus (available in English). These documents of the Fund are available on the website of KCM (www.kempen.com/en/asset-management). The information on the website is (partly) available in Dutch and English. The Sub-Fund is registered for offering in a limited number of countries. The countries where the Sub-Fund is registered can be found on the website. The value of your investment may fluctuate. Past performance provides no guarantee for the future.
The Fund is only available for professional investors.
The Fund is closed-end.
In Switzerland, the Statutes, the Prospectus, the PRIIP-KIDs, the Annual Report and, if applicable, the Semi-Annual Report and/or any such documents, which are required for the approval in compliance with the applicable foreign law, may be obtained free of charge from the Swiss Representative and Paying Agent, RBC Investor Services Bank S.A., Esch-sur-Alzette, Zurich Branch, Bleicherweg 7, CH-8027 Zurich. In respect of the units distributed in and from Switzerland, the place of performance and jurisdiction is the registered office of the Representative.
This investment fund is exclusively available for the client base of Van Lanschot Kempen Wealthmanagement N.V. Please ask your private banker for more details.
The information in this document provides insufficient information for an investment decision. Please read the Key Investor Document (available in Dutch and English) and the prospectus (available in English). These documents of the Fund are available on the website of KCM (www.kempen.com/en/asset-management). The information on the website is (partly) available in Dutch and English. The Sub-Fund is registered for offering in a limited number of countries. The countries where the Sub-Fund is registered can be found on the website. The value of your investment may fluctuate. Past performance provides no guarantee for the future.
The Fund is only available for professional investors.
The Fund is closed-end.
In Switzerland, the Statutes, the Prospectus, the PRIIP-KIDs, the Annual Report and, if applicable, the Semi-Annual Report and/or any such documents, which are required for the approval in compliance with the applicable foreign law, may be obtained free of charge from the Swiss Representative and Paying Agent, RBC Investor Services Bank S.A., Esch-sur-Alzette, Zurich Branch, Bleicherweg 7, CH-8027 Zurich. In respect of the units distributed in and from Switzerland, the place of performance and jurisdiction is the registered office of the Representative.
Ongoing charges
| Management fee i | 1.00 % |
| Service fee i | 0.10 % |
| Taxe d'abonnement i | 0.01 % |
| Indirect costs i | 1.30 % |
| Expected ongoing charges i | 2.41 % |
The information in this document provides insufficient information for an investment decision. Please read the Key Investor Document (available in Dutch and English) and the prospectus (available in English). These documents of the Fund are available on the website of KCM (www.kempen.com/en/asset-management). The information on the website is (partly) available in Dutch and English. The Sub-Fund is registered for offering in a limited number of countries. The countries where the Sub-Fund is registered can be found on the website. The value of your investment may fluctuate. Past performance provides no guarantee for the future.
The Fund is only available for professional investors.
The Fund is closed-end.
In Switzerland, the Statutes, the Prospectus, the PRIIP-KIDs, the Annual Report and, if applicable, the Semi-Annual Report and/or any such documents, which are required for the approval in compliance with the applicable foreign law, may be obtained free of charge from the Swiss Representative and Paying Agent, RBC Investor Services Bank S.A., Esch-sur-Alzette, Zurich Branch, Bleicherweg 7, CH-8027 Zurich. In respect of the units distributed in and from Switzerland, the place of performance and jurisdiction is the registered office of the Representative.
Share class details
| Share class | B i |
| Investor type | Institutional & Private |
| Distributing | No |
| Investment category | Private Markets |
| Inception date | 2019-02-15 |
| May be offered to professional investors only in | Belgium, Switzerland, The Netherlands, United Kingdom |
| UCITS status i | No |
| Status | Closed-end i |
| Base currency | EUR |
| Share class currency | EUR |
| Management company | Kempen Capital Management N.V. |
| Depositary and custodian | J.P. Morgan Bank Luxembourg S.A. |
Tradability
| Minimum subscription | Initial subscription and minimal holding amount €1.000,000. |
| Listed | no |
| ISIN i | LU1901067642 |
| Entry period purchase order | Please contact your Relationship Manager or Kempen Capital Management. |
The information in this document provides insufficient information for an investment decision. Please read the Key Investor Document (available in Dutch and English) and the prospectus (available in English). These documents of the Fund are available on the website of KCM (www.kempen.com/en/asset-management). The information on the website is (partly) available in Dutch and English. The Sub-Fund is registered for offering in a limited number of countries. The countries where the Sub-Fund is registered can be found on the website. The value of your investment may fluctuate. Past performance provides no guarantee for the future.
The Fund is only available for professional investors.
The Fund is closed-end.
In Switzerland, the Statutes, the Prospectus, the PRIIP-KIDs, the Annual Report and, if applicable, the Semi-Annual Report and/or any such documents, which are required for the approval in compliance with the applicable foreign law, may be obtained free of charge from the Swiss Representative and Paying Agent, RBC Investor Services Bank S.A., Esch-sur-Alzette, Zurich Branch, Bleicherweg 7, CH-8027 Zurich. In respect of the units distributed in and from Switzerland, the place of performance and jurisdiction is the registered office of the Representative.
Annual Reports
Prospectus
Key Information Document
Formal documents other
The information in this document provides insufficient information for an investment decision. Please read the Key Investor Document (available in Dutch and English) and the prospectus (available in English). These documents of the Fund are available on the website of KCM (www.kempen.com/en/asset-management). The information on the website is (partly) available in Dutch and English. The Sub-Fund is registered for offering in a limited number of countries. The countries where the Sub-Fund is registered can be found on the website. The value of your investment may fluctuate. Past performance provides no guarantee for the future.
The Fund is only available for professional investors.
The Fund is closed-end.
In Switzerland, the Statutes, the Prospectus, the PRIIP-KIDs, the Annual Report and, if applicable, the Semi-Annual Report and/or any such documents, which are required for the approval in compliance with the applicable foreign law, may be obtained free of charge from the Swiss Representative and Paying Agent, RBC Investor Services Bank S.A., Esch-sur-Alzette, Zurich Branch, Bleicherweg 7, CH-8027 Zurich. In respect of the units distributed in and from Switzerland, the place of performance and jurisdiction is the registered office of the Representative.
Kempen's vision & mission
Kempen Capital Management is an asset manager that believes in stewardship and investment focusing on the long-term for the benefit of all stakeholders. Value creation is at the heart of the services we provide to our clients. We believe that being an engaged shareholder on environmental, social and governance (ESG) issues and retaining a long-term focus, is critical to helping our clients to preserve and create sustainable wealth that has positive real world impact and economic returns.
Kempen wide approach to responsible investment
We are committed to create sustainable alpha. The four pillars of our ESG-policy are:
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ESG integration: Ensuring sustainability risks and opportunities are adequately considered in our investment analysis and processes.
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Exclusion & avoidance: Not investing in companies involved in controversial activities or conduct.
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Active ownership: Being responsible stewards of our clients’ capital and using our influence through engagement and voting to improve corporate behaviour on specific ESG issues and achieve positive change
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Positive impact: Investing with an objective to achieve positive real world outcomes and impact, such as contributing to the UN Sustainable Development Goals.
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To put our mission and vision into practice we engage with our investee companies on a wide array of strategic, financial, and ESG topics. As an active owner we use our influence to improve our investee companies’ ESG performance. This helps us address some of the most pressing and important sustainability issues facing business and the world. Our focus themes for engagement are: human rights, labour rights, climate change and governance.
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Through collaboration with other investors and industry think tanks we contribute to the development of principles and standards of corporate responsibility both at sector levels, as well as investee company level.
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Our full voting records are available here.
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OUR FUND APPROACH TO RESPONSIBLE INVESTMENT
Our ESG policy is fully implemented in our fund’s investment process with the most relevant pillars for private equity investments being ESG integration and Active ownership.
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1. Exclusion
Controversial companies, such as arms manufacturers, are completely excluded. We simply do not invest in such companies.
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2. ESG integration
The Private Markets team conducts in-depth research - or due diligence - before including a new investment in the Private Equity fund. ESG factors and socially-responsible business practices are a standard part of this due diligence process. ESG factors are awarded a score in the due diligence report on each planned investment and any investments that do not score high enough are not included in the portfolio;
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Once we have completed the due diligence process and made the investment, we conduct continuous monitoring and assess and analyse trends relating to ESG in detail. These issues are discussed regularly in the Private Markets team and with Kempen’s ESG team.
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The Private Markets team screens the investment portfolio continuously with respect to ESG issues. As we hold a fairly concentrated portfolio of non-listed (private equity) companies and partnerships, this screening process cannot of course be conducted automatically via the MSCI ESG database. This analysis is therefore qualitative in nature and based on our in-depth knowledge of the partners and companies, and is enabled partly thanks to our detailed upfront due diligence process and ongoing monitoring that incorporates ESG issues.
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3. Active ownership Â
Any important issues raised during our monitoring are placed on the agenda and discussed with our investment partners during on-site visits. Here we focus strongly on what the partner and company are actually doing, and we encourage our partners and the underlying companies to report publicly on ESG issues and to share the results.
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As we mainly hold, with or without our investment partners, direct majority interests in the companies in which we invest, we are in a position to be more involved in the day-to-day management of our investments. We can therefore quickly and effectively place items such as ESG issues on the agendas of the companies’ management teams and share best practices. This also enables us to keep a close eye on the developments and steer directly towards achieving results.
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Risks
Risks
For more information about the mid and long term risks associated with the investments:
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ESG Report
The information in this document provides insufficient information for an investment decision. Please read the Key Investor Document (available in Dutch and English) and the prospectus (available in English). These documents of the Fund are available on the website of KCM (www.kempen.com/en/asset-management). The information on the website is (partly) available in Dutch and English. The Sub-Fund is registered for offering in a limited number of countries. The countries where the Sub-Fund is registered can be found on the website. The value of your investment may fluctuate. Past performance provides no guarantee for the future.
The Fund is only available for professional investors.
The Fund is closed-end.
In Switzerland, the Statutes, the Prospectus, the PRIIP-KIDs, the Annual Report and, if applicable, the Semi-Annual Report and/or any such documents, which are required for the approval in compliance with the applicable foreign law, may be obtained free of charge from the Swiss Representative and Paying Agent, RBC Investor Services Bank S.A., Esch-sur-Alzette, Zurich Branch, Bleicherweg 7, CH-8027 Zurich. In respect of the units distributed in and from Switzerland, the place of performance and jurisdiction is the registered office of the Representative.