GBL Sets its Sights on Private Assets in German-speaking Markets with the Hire of Jens Riedl (Permira)
Groupe Bruxelles Lambert (“GBL”) announces the appointment of German national Jens Riedl as Investment Partner to accelerate the deployment of its private equity investment strategy in the DACH markets. Jens brings over 20 years of international private equity experience, including in industrials and business services. This hire is part of a broader reinforcement of GBL’s organization; Bernard Delpit, former Deputy CEO and CFO of French aeronautics company Safran, joined January 1, 2022 and two Investment Partners, each with geographic expertise, have recently been hired.
With these hires, GBL has doubled its number of Investment Partners, signaling the group’s intentions to increase the weight of private assets in its portfolio.
At its Capital Markets Day last November, GBL announced its objective to increase the contribution of private and alternative assets to its portfolio over the long term from approximately 25% to circa 40% in order to generate higher returns from a less replicable portfolio.
GBL seeks to invest in companies exhibiting mega-trends driving the economy such as consumer experience, health awareness, sustainability and digital/technology. GBL’s mandate is flexible; investments can range from EUR 250 million to EUR 2 billion for a majority or minority stake with influence, and thanks to the group’s permanent capital, holding periods can be significantly long.
A significant part (approximately 40%) of GBL’s total net asset value of EUR 22.5 billion is already invested in the DACH region, including sizeable investments in adidas, SGS and GEA. In addition, GBL acquired in 2020 a majority stake in Canyon, the world leader in direct-to-consumer high-end bicycle distribution headquartered in Koblenz, Germany.
Ian Gallienne, CEO of GBL, stated, “I am pleased to count Jens Riedl as one of our Investment Partners. GBL stands to benefit from his industry expertise as well as his extensive and diverse network in the DACH markets where he will be instrumental in deal generation.”
Jens Riedl added, “GBL’s permanent capital and track record of value creation make it an attractive partner for private companies. Together with this talented team, I look forward to strengthening GBL’s portfolio with additional long-term compounders.”
Dr. Jens Riedl began his career in 1997 in the global Headquarters of Daimler as a PhD student in Corporate Controlling, before moving to Boston Consulting Group (“BCG”) in Germany in 1999. At BCG, he led the private equity practice in DACH for 10 years as a Senior Partner as well as the Transportation & Logistics sector in Europe. After 19 years at BCG, he joined the Frankfurt office of Permira as a Partner in 2019 where he globally led the Industrials as well as the Business Services sectors. He joins GBL in January 2022, bringing more than 20 years of experience in private equity as well as Board experience in private companies. He holds a Master in Business Administration from University of St. Gallen (Switzerland) as well as London School of Economics (“LSE”) and a PhD in Finance from European Business School (Germany).
About Groupe Bruxelles Lambert
Groupe Bruxelles Lambert (“GBL”) is an established investment holding company, with over sixty years of stock exchange listing, a net asset value of EUR 22.5 billion and a market capitalization of EUR 15.3 billion at the end of September 2021. GBL is a leading investor in Europe, focused on long-term value creation and relying on a stable and supportive family shareholder base. GBL is both a responsible company and investor and perceives ESG factors as being inextricably linked to value creation.
GBL strives to maintain a diversified high-quality portfolio of listed and private assets as well as alternative investments (through Sienna, the group’s alternative investment platform), composed of global companies that are leaders in their sector, to which it can contribute to value creation by being an active professional investor.
GBL is focused on delivering meaningful growth by providing attractive returns to its shareholders through a combination of growth in its net asset value, a sustainable dividend and share buybacks.
GBL is listed on the Euronext Brussels stock exchange (Ticker: GBLB BB ; ISIN code: BE0003797140) and is included in the BEL20 index.