20th Nov 2024 11:20
(Alliance News) - 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 GBP14 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.
By Lydia Doye, Alliance News reporter
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