Private Equity: Halder loses independence

Halder, a manager of third party investment funds, has been sold to Gewestelijke Investerings Maatschappij Voor of Belgium (GIMV). The purchase cost GIMV $33.25 million (EURO36.6 million). GIMV was advised by ABN AMRO and Clifford Chance and Halder was advised by Freshfields.

Halder is actively mainly in management buyouts and has offices in Germany, the Netherlands and Belgium. Halder employs 20 people and manages over BEF8 billion in its two current funds. Halder will continue with its plans to raise the Halder V fund in the autumn with GIMV acting as sponsor, committing up to 30 per cent of this vehicle and of future Halder funds. GIMV also aims to co-invest alongside Halder funds. Halder will retain its name, despite the takeover.

The purchase of Halder gives GIMV the necessary expertise to set up external funds, enabling it to tap the third-party fund market as well as the capital markets to which, as a quoted company, it already has access. GIMV was set up in 1980 and floated on the Brussels Stock Exchange in 1997.