Cipio Partners has promoted Christoph Wedegaertner to senior principal based in the firm’s Munich office.

Wedegaertner has been with Cipio since 2005, focusing on sourcing and execution of deal flow, exit management for direct investments and fundraising for the firm’s last three funds. He was previously an investment manager at German family office BTV Group, prior to which he advised on M&A transactions in the German mid-market at London-based investment banking boutique, Ambrian Partners. Cipio, which also has an office in San Jose, has 11 investment professionals in total.

A spokesperson for the firm was not available at presstime.

Cipio closed its sixth fund in January with €137 million in capital. Fund VI is the firm’s first blind pool fund, meaning LPs committed capital without knowing where it will be invested. Cipio previously presented opportunities to LPs on a deal-by-deal basis.

With its fresh capital Cipio will continue its investment strategy of direct secondaries, in which it acquires portfolios of businesses, either from corporates or other institutional investors. The firm considers transactions involving individual assets as well as large portfolios of assets, according to its website.

Fund VI, which was roughly around 25 percent invested as of 26 January, will have roughly a three-year window for investment.

 

Full text: www.privateequityonline.com