The secondary market vehicle attracted commitments of 510 million while the infrastructures fund raised 825 million
Golding Capital Partners, a German alternative asset manager with offices in Luxembourg, Milan, Tokyo, and Zurich, said it closed the fundraising for Golding Secondaries 2022 which attracted commitments worth above 510 million euros, which is 80% more than 280 million raised for the previous vehicle in the same sector (press release).
Investors committed to support Golding Infrastructure 2022 with more than 825 million, well above the 700 million target for the firm’s fifth fund of this field (press release).
Both the funds raised a total of more than 1.3 billion.
About two-thirds of the secondary fund commitments came from insurance companies, pension institutions and savings banks that already invested in Golding funds. The firm als attracted a significant number of new international institutional investors, including players from Austria, Switzerland, Italy, France, the Netherlands, Spain, and Asia.
The fund already invested more than half of its resources in 20 deals and already planned the launch of another vehicle in 2026. The target sectors are resilient and cash-flow-generating industries such as services and technology, which offer attractive growth potential along with solid economic stability.
Richard Wilmes, Golding Partner and Head of Secondaries, said “In our discussions with investors, the key factors were the confidence in our network, our established track record, but above all our conservative small and mid-cap strategy with a focus on Europe. In particular, the attractive cash flow profile of continuation vehicles and classic LP transactions with unleveraged initial distributions proved very convincing”.
The infrastructure fund completed 80% (70 over the above 200 single assets) of its portfolio as it closed twelve out of the fifteen targeted investments. The vehicle closed four secondary LP-led deals. The co-investment allocation is around 10%; two promising co-investments added in 1H25. The launch of the next fund in the series may take place by year-end.
Thilo Tecklenburg, Golding partner & Co-Head Infrastructure, explained: “In the current infrastructure market, a lower availability of capital meets a still high demand for investment. This creates attractive entry opportunities and allows for greater selectivity. We also see this in the growing interest of our investors since the beginning of the year. The persistent need for capital affects all infrastructure sectors, allowing for broad diversification across structural megatrends. Based on the fund’s positive performance, we expect the first distribution within the next six months.”
Hubertus Theile-Ochel, Golding managing partner, added: “Secondary funds grant institutional investors direct access to established portfolios, which generate distributions quickly and have high predictability. Strong demand and a reinvestment rate of over 70% reflect confidence in our strategy. Resilient infrastructure solutions continue to be in demand. Especially in more complex market phases, they offer stability and attractive returns. The strong support from many new investors confirms the confidence in our approach. The more than1.3 billion fundraising of the two vehicles sends a clear signal to the market that we provide our investors with exclusive, ongoing access to high-yield deals.”
