According to the strategic plan, the investment of AF Eigenkapitalfonds für deutschen Mittelstand GmbH & Co. KG, advised by Afinum Management GmbH, in Engel & Völkers AG came to an end.
With the provision of growth capital, Afinum had invested in Engel & Völkers back in March 2015 in order to strengthen the capital base and support the international expansion of the company. Focus of the growth strategy was the foundation and development of own market centers in various international metropolitan cities. Besides the growing franchise business, a large part of the increase in commission volume results from these directly managed activities.
Engel & Völkers is a worldwide leading real estate service provider in the segment of premium residential and commercial properties with total commission income of more than EUR 600 mio. in 2017, an increase of 29% compared to 2016. Afinum’s investment was designed as an interim shareholding with a built-in buy-back option for the majority shareholders and the company itself. Based on the excellent business performance and in the course of a corporate refinancing by a consortium of banks,
Afinum’s shares were now repurchased as planned. The investment in Engel & Völkers was eventually very successful for the fund, both from a financial and strategical perspective.