html Institutional Private Equity Investments — Ambriel Kapital GmbH

Legal notice: This page is intended solely as general information about private equity as an asset class. Ambriel Kapital GmbH provides structured, personal information and advice within its regulatory framework. Historical returns are no guarantee of future results.

Ambriel Kapital GmbH · Solutions · Institutional Private Equity Investments

The asset class of
billionaires, foundations,
pension funds and sovereign wealth funds.

Private company investments — private equity — were reserved for decades almost exclusively for large institutional investors. Professional access can also be made available to private investors in a structured and diversified way.

27
years of experience
of the partner
4,000+
companies
in the portfolio
50+
countries
worldwide
Ø 3.84x
gross return on
invested capital

Historical returns (average 3.84x gross return, +4 percentage points p.a.) are based on past results and do not guarantee future developments. No investment advice.

Sounds interesting? Request a meeting →
Who invests how

How billionaires, pension funds
and sovereign wealth funds
really invest their money.

There is a fundamental difference between what most people do with their money — and what billionaires, pension funds, sovereign wealth funds and foundations do. This difference is called: private company investments / private equity.

Private households the EU member states

Source: Allianz Global Wealth Report
Cash & bank deposits~80%
Insurance & pensions10–15%
Stocks & investment funds5–10%
Private equity investments~0%

Family offices

Ultra-wealthy private investors worldwide
Stocks28%
Bonds & liquidity22%
Real estate9%
Private equity investments26%

Elite universities & sovereign wealth funds

Private equity share of total portfolio
Princeton University30%
Stanford University38%
Yale University39%
CPP — Canada Pension Plan33%
Stocks (for comparison)24%

Sources: Princeton Annual Report 2023, Stanford Management Co. 2023, Yale Endowment Report 2023, CPP Investments 2024

Large pension funds & sovereign wealth funds

Strategic private-market allocation
CalPERS — California pension fundTarget: 17%
CPP — Canada Pension Plan33%
Shell pension fund (NL)12.9%
Catholic Church — supplementary pension fund36%

Sources: CalPERS 2024, CPP Investments 2024, Shell pension fund 2022, IPE Research

The pattern is clear: The more capital and knowledge, the higher the share of private equity investments — and the lower the weight of cash, savings deposits and stocks. Private equity is not a niche for risky speculators, but a core building block of institutional wealth management.
Advice instead of product logic

Capital allocation needs structure —
not sales logic.

Many financial solutions in the market are shaped by product ranges, distribution models or remuneration logic. Ambriel Kapital therefore does not view private equity and investment funds in isolation, but in relation to wealth structure, risk capacity, liquidity, time horizon and objectives.

Our standard

Not every interesting product suits every investor. What matters is whether a solution fits technically, economically and personally — and whether opportunities, risks, costs and time horizons are understood.

Institutional advisory
How private equity works

Stocks reflect
market sentiment —
private equity creates
real value.

01

What stocks really measure

Shareholders acquire stakes in listed companies and hope for rising prices. The price is determined every day by millions of investors, algorithms, media and moods — not by the actual development of the company. The market often pays for stories, not substance.

02

What private equity funds really do

Private equity funds acquire direct stakes — often majority stakes — in unlisted companies. In addition to capital, they actively contribute strategic expertise: experienced industry managers, former corporate executives, operating teams, international networks and clear value-creation plans.

03

Less volatility — more return

Because private equity investments are not valued daily on the stock exchange, they do not react to media noise and market panic. The result: historically, on average, around 4 percentage points higher annual returns than listed equities — with significantly less daily volatility.

04

The three phases — and why the mid-market is the best

Private equity invests in three phases: Venture capital (startups, early stage — high risk, high opportunity), Mid-market buyouts (established companies with 250+ employees and €50m+ revenue — attractive return with calculable risk) and Large buyouts (mega deals of large corporations — capital intensive, lower return premium). Our partner invests exclusively in the mid-market — the phase with the best balance of return, risk and substance.

The blind spot of investors

What we see is only a
fraction of the economy.

Country Listed Unlisted mid-market*
Germany 429 companies > 16,000 companies
Austria ~68 companies ~1,900 companies
Switzerland ~217 companies ~1,460 companies
* Mid-market: from 250 employees and at least €50m annual revenue — the core focus of private equity and of our partner’s fund-of-funds.

Sources: Deutsche Börse, Vienna Stock Exchange, SIX Swiss Exchange, Statistics Austria, Swiss FSO, IfM Bonn

Media and investors observe only a fraction of the real economy.

Every day, the news reports on DAX, ATX, SMI — on a few hundred listed companies. Alongside them exist thousands of economically significant companies — profitable, stable, growing — completely outside the stock exchange.

These companies are exactly the investment target of private equity. Funds acquire stakes, bring capital, experienced managers and networks — and deliberately increase company value over years.

This is not speculative betting on prices. It is entrepreneurial thinking as an investor — in companies that form the backbone of the economy.

The direct comparison

Private equity
vs. listed equities

Listed equities & ETFs

Including equity funds — the standard investor
  • Daily price fluctuations driven by moods, algorithms, media and rumors
  • The “Magnificent 7” make up more than 30% of the S&P 500 — extreme concentration risk
  • Investors have no influence on strategy or management
  • Share price and real company value often diverge sharply
  • In crises, prices collapse — often far beyond the real economic damage
  • Historically around 4 percentage points p.a. lower return than private equity
  • 99% of economically significant companies in the DACH region are not investable
  • Only minority stakes — no entrepreneurial influence possible

Private equity — off-market

How large institutional investors invest
  • No daily stock market quotation — no panic selling, no media noise
  • Broad diversification across 500–1,000 carefully selected companies
  • Active value creation: experienced managers, strategy, operating networks
  • Valuation based on real company value — not market sentiment
  • Significantly more crisis-resistant than listed markets
  • Historically Ø +4 percentage points p.a. excess return versus equities
  • Access to the entire unlisted mid-market worldwide
  • Majority stakes — active participation instead of passive hoping
Private equity in practice

Names you know —
built through private equity.

What does a “multiple” mean? The multiple shows how many times the invested capital has multiplied. A 3x multiple means: €1 became €3. An 8x multiple means: €1 became €8. By comparison: anyone who put money into a savings account in 2017 has less in real terms today due to inflation. Anyone who invested in private equity multiplied their capital.

What does EBITDA mean? EBITDA is a company’s operating profit — simplified: what the company earns before taxes, interest and depreciation. It shows how profitably a company truly operates.

Tech scaling · USA

Airbnb

Global online platform for accommodation — founded in 2008 in San Francisco. Private equity investors financed global scaling long before the IPO.

✓ Expansion into more than 190 countries
✓ Building the global marketplace
✓ Platform scaled to millions of hosts
Holding period · result
~6–8 years · 10x–20x multiple
Multiple means: 1 USD became 10–20 USD · IPO with massive value increase
Classic buyout · Europe

Douglas

Europe’s leading beauty retailer — founded in 1821 in Hamburg, known throughout Europe and the EU member states. Private equity transformed the company through digitalization.

✓ E-commerce from zero to market leadership
✓ Expansion into 27 countries
✓ Significant efficiency increase
Holding period · result
~4 years · successful exit
Multiple means: €1 became a multiple · significant value increase through digital transformation
Mid-market · USA · CI Capital

SavATree

Founded in 1985 — leading provider of tree, plant and lawn care for private, commercial and public customers. CI Capital entered in 2017 and consolidated a highly fragmented market.

✓ Growth: 28 → 59 locations, 12 → 23 states
✓ 27 add-on acquisitions
✓ Revenue: 102 → 253 million USD (+148%)
✓ EBITDA: 18.8 → 49.1 million USD
Exit Q4 2021 to Apax Partners
~4 years · 8.3x multiple
Multiple means: 1 USD became 8.30 USD · sale to global private equity fund Apax
Technology · Israel · Fortissimo

Cardo

Founded in Israel in 2003 — global leader in communication and entertainment systems for motorcyclists. Fortissimo entered in 2017 and drove international expansion and technology development.

✓ Development of breakthrough mesh network technology
✓ Expansion: 80+ countries, entry into APAC
✓ Revenue: 17 → 55 million USD (3x)
✓ From -3.2 to +11.4 million USD EBITDA
Exit April 2021 to EMK Capital (Europe)
~4 years · 4.1x multiple
Multiple means: 1 USD became 4.10 USD · 22 million USD investment → 97.5 million USD exit
Market leader · Europe/global · CD&R

Belron — Carglass®

Founded in 1897 as a family company — global leader in auto glass repair with unmatched brands: Carglass® (DE, FR, BE, NL, ES, IT), Safelite® (USA), Autoglass® (UK). CD&R entered in 2018 with 760 million USD for a 40% stake.

✓ 10 international brands under one roof
✓ Presence in 40 countries, 25,800 employees
✓ Revenue: 3,502 → 4,516 million € (+29%)
✓ EBITDA: 334 → 1,102 million € (+230%)
Exit 2021
~3 years · 10.4x multiple
Multiple means: €1 became €10.40 · EBITDA tripled in only 3 years
Turnaround · USA · Apollo

Sun Country Airlines

Regional airline with 40+ years of history in Minnesota — insolvent in 2008. Apollo entered in 2018 and executed a full transformation: new CEO, strategic shift to low-budget airline, build-up of cargo business.

✓ Completely new IT infrastructure & customer platform
✓ Amazon won as cargo partner
✓ ESG: CO₂ reduction through engine optimization
✓ Today the 11th-largest airline in the USA (by passengers)
IPO March 2021 · in the middle of Corona
~3 years · stock market value 1.4 billion USD
IPO with 1.4 billion USD valuation — value created where others gave up

Also known from the private equity universe: Flixbus, Spotify, Schleich — all became large through off-market capital. The pattern is always the same: experienced investors with industry networks, active operational support, clear value-creation strategy — and disciplined exit.

In excellent company

Billionaires, pension funds &
sovereign wealth funds — who invests here.

Through the retail fund, private investors invest 1:1 in the same overarching fund-of-funds as the partner’s large institutional investors — including Oxford University, the oldest Belgian asset manager and other major names.

Yale University

Yale: 39% in private equity investments — far more than in stocks. One of the most renowned endowment funds in the world, a pioneer in alternative asset classes.

Princeton & Stanford

Princeton: 30%, Stanford: 38% in private equity investments — in each case more than twice as much as in stocks.

Oxford University

One of the oldest universities in the world — co-investor in the same overarching fund-of-funds into which private investors can also invest through Ambriel Kapital GmbH.

Goldman Sachs & Deutsche Bank

Leading investment houses — they manage trillions for the global economy and strategically use private equity investments.

UBS & Bank of America

Two of the world’s largest financial institutions — co-investors in the same market, with decades of experience in alternative investments.

Allianz & Munich RE

Two of the world’s largest insurance groups — they manage the reserves of millions of policyholders and use private equity investments.

CPP & Future Fund

Canada Pension Plan (33%) and Australia’s national sovereign wealth fund — they manage the retirement capital of entire nations and use private equity investments.

CalPERS

The California public pension fund with over 550 billion USD — calls private equity its highest-returning asset class of the last 20 years. Target allocation: 17%.

Shell pension fund

The Dutch Shell pension fund with €26bn — holds 12.9% in private equity investments, more than in listed equities (11.6%).

Catholic Church

The supplementary pension fund of the Catholic Church increased its share to 36% — with the strategic goal of 50% of the total portfolio.

HQ Capital — Harald Quandt family

The investment vehicle of the Harald Quandt family — known through BMW ownership. HQ Capital has been a pioneer in private equity for more than 30 years and invests worldwide for institutional investors.

Harvard Management Company

The professional asset manager of the Harvard endowment — one of the most experienced institutional investors worldwide — with significant exposure to private equity.

“Great companies are built, not traded.”

Henry Kravis · co-founder of KKR · one of the most influential private equity investors in history
the EU member states today

Private equity for private investors and entrepreneurs —
the market of the future.

The market for private equity investments for private investors and entrepreneurs is still at an early stage of development — and that is exactly where the opportunity lies.

Where the EU member states stands today

Around 100 billion euros are held in bank deposits by the EU member statesn households — around 80% of total financial wealth. Pension funds invest predominantly conservatively in bonds and deposits. Private equity plays practically no role among private investors.

What is changing

In recent years, interest in alternative asset classes has grown significantly. Initial fund structures are opening for local institutional investors. The ecosystem of funds, capital and knowledge is developing increasingly fast.

The opportunity for the EU member statesn investors

What institutional investors in Germany, Switzerland and the USA have used for decades is only now becoming accessible for private investors and entrepreneurs. Ambriel Kapital GmbH supports interested investors with structured access, careful selection and personal assessment.

Our approach

Fund-of-funds —
broadly diversified,
deeply anchored.

Ambriel Kapital GmbH exclusively facilitates access to fund-of-funds in the mid-market — no single bets, no speculation. The structure creates maximum diversification with institutional access.

Structure
Approx. 40 target funds — each invests in 15–30 companies. Result: participation in 500–1,000 carefully selected mid-market companies through a single access point.
Focus
Exclusively established mid-market companies — from 250 employees and at least €50m annual revenue. No startups, no venture capital, no mega deals. The phase with the best return-risk ratio.
Exclusive access
Over more than 27 years, our partner has created unique access to top target funds that remain closed to other providers. As a result, returns are often more attractive than comparable structures on the market.
Geography
North America, Europe, selectively Asia — geographically broadly diversified, with a focus on markets with strong rule of law and established private equity infrastructure.
Advantage versus competition
Other providers set entry thresholds of €50,000 to €1m — leaving most private investors outside again. Our partner enables access from significantly smaller amounts, with broader diversification and better structure.
Details on conditions and minimum investment only in a personal conversation.
The path to the right decision

Ready for the
personal conversation?

Private equity is not suitable for everyone. We clarify this honestly in the first conversation — without pressure, without time limit. Real information. Not a sales conversation.

Request a meeting →