Daily life at Afinum

What were the main reasons for you to make the move to Afinum in 2021 and what did you do before that?

At Afinum, I have the opportunity to utilise all of my previous experience and to develop further on this basis. The decisive factor for me was that my area of responsibility covers the entire value chain in private equity, from deal sourcing and deal execution to portfolio management and exits. I was also able to take on responsibility right from the start and drive forward topics that particularly interested me. Together with a colleague, I am now building up our Green Transformation Vertical. Before joining Afinum in 2021, I worked in various positions both in an advisory and operational capacity. Most recently as a manager at Bain & Company in Munich, where I was a member of the private equity practice and supported numerous commercial due diligences and private equity investments with value creation projects. Before that, I was responsible for the business development team in Europe at fashion portal Stylight and worked in investment banking at Morgan Stanley.

What were your responsibilities when you joined and how have they developed since then?

I was a fully-fledged member of the deal and portfolio team right from the start. Within the deal team, it is important that we all have an overview of the entire deal, but we naturally divide up the tasks and workstreams. The individual development wishes of each team member are taken into account and supported accordingly.

What do you like most about working at Afinum so far?

My tasks at Afinum are very diverse and varied – they cover the entire spectrum of tasks in private equity – from deal sourcing and deal execution to portfolio management and exits. As I am responsible for my investment right through to the exit, the work at Afinum is also very entrepreneurial, which I really appreciate. I also have the necessary flexibility in my daily tasks to fulfil my responsibilities at Afinum and my role as a mother.

How would you describe the culture at Afinum?

There is a family atmosphere at Afinum, which is reflected in our respectful interaction with each other and with all our stakeholders. This culture has also helped us to build very sustainable and long-term relationships with a wide range of stakeholders. There is a ‘one team’ attitude: as we believe that everyone can make a valuable contribution based on different backgrounds and experiences, discussions are held across hierarchical levels. In addition, we regularly do things together, from regular drinks in the office to offsites, e.g. in Kitzbühel and Mallorca in recent years. Regular events like these help us to grow even closer as a team.

What is particularly important to you with new colleagues?

As we are a relatively small team and work together very intensively, team fit is very important to us for new colleagues. In addition to the professional requirements, this primarily includes drive, a sense of responsibility and integrity.

How do you reconcile all this with your private life?

Afinum gives me the opportunity to develop both professionally and privately and supports me in combining work and family life. As every family situation is unique, there can be no ‘one-size-fits-all’ solution, which is why Afinum supports each team member on their individual path. Personally, I have just returned from parental leave and am fully involved in all topics again – which works very well, as we work in an output-orientated way and there is therefore sufficient flexibility in terms of personal time management and place of work.

What were the main reasons for you to make the move to Afinum in 2022 and what did you do before that?

I previously worked in investment banking at Credit Suisse in Frankfurt. Before starting my job, I completed my Bachelor’s degree in business administration in St. Gallen and completed various internships in investment banking, private equity and venture capital in San Francisco, London, Frankfurt and Zurich. During my interviews with Afinum, I immediately sensed that I would not only like it here in terms of content, but also personally. I also realised from my research and discussions with the Afinum team beforehand that you can take on responsibility early on, gain a lot of deal and portfolio management experience and have fun at the same time.

What were your tasks when you joined?

Right from the start, I was able to support two portfolio companies in Switzerland. I was also directly involved in several deals and was able to lead my own workstreams during various work phases (due diligence, board meetings, management presentations and consultant meetings) and thus take on responsibility early on. As I am interested in technology and was excited by the buy & build story of Synaforce – which was acquired shortly before I joined – I picked up the phone and asked the deal team if they could use some support. Since then, Synaforce has been the third portfolio company that I have looked after.

What was it like to start as the first Analyst at Afinum, since you have made the step up to Associate?

Right from the start, I was given a lot of room for manoeuvre, responsibility and trust. At the same time, I always received the necessary guidance and the team is always open to questions and discussion. As an Analyst at Afinum, I can lead workstreams, drive my own projects and expand my professional network by meeting with consultants and entrepreneurs. I am involved in every aspect of portfolio company support and during the deal phase. The fact that the role didn’t exist before was a unique opportunity to define it. It is not only appreciated, but also desired that I actively contribute to the discussions and express my own opinion. It doesn’t matter whether entrepreneurs, consultants or potential investors are sitting at the other end of the table.

What was your induction/onboarding like?

My onboarding was phenomenal. I spent the first week being familiarised by my office – the Swiss team. Then I went to the training week in Munich. In my third week of work, the whole of Afinum travelled to Mallorca together. This allowed me to get to know the team very well in terms of content, professionally and personally and after three weeks I already felt like I had arrived at work and in the team.

What do you like most about working at Afinum so far?

The opportunity to get involved and take on a lot of responsibility early on is very motivating. Furthermore, the short decision-making processes and meritocratic decision-making enable a lively exchange and a good understanding of each other and the company. I also really appreciate the collegiality and personal interaction in the Afinum team.

And how would you describe the culture at Afinum?

The culture at Afinum is very entrepreneurial. It is appreciated if you show initiative, work proactively, get involved in discussions and express your own opinion. Just as important as the entrepreneurial aspect is the togetherness and the personal aspect. We work in lean teams and it is very important to us that these teams function well and harmonise. In the teams I’ve worked with so far, not a working day has gone by without us laughing together or exchanging personal views.

What were the main reasons for you to make the move to Afinum in 2019 and what did you do before that?

Before joining Afinum, I got to know different industries: tech start-ups, strategy consulting, large cap private equity and investment banking. I also did my doctorate with a focus on empirical corporate finance. It was clear to me early on that I wanted to move into the mid-market private equity segment in the medium term. The proximity to medium-sized entrepreneurship, the opportunity to support portfolio companies and management teams in their growth plans and ultimately to be able to make a significant entrepreneurial contribution myself are particularly appealing to me.

Three factors were decisive for me at the time:
1) The team – small, experienced, professional and at the same time down-to-earth, open and self-reflective.
2) The entrepreneurial culture – it was important to me that I could take on a lot of responsibility in the team right from the start.
3) The performance and outlook – Afinum has been successful since 2000 and has also successfully mastered past market crises such as the financial crisis or Covid-19. Today, even more than back then, Afinum is excellently positioned in the mid-cap DACH segment.

I was sure that I could have a fulfilling career at Afinum and that I would learn a lot. Both as an investor and as a person.

What were your tasks when you joined and how have they developed since then?

I joined Afinum as an Associate in 2019. Not that much has changed in terms of content. I was involved in all workstreams and meetings right from the start and was able to contribute. Over time, you’re simply able to utilise more and more of the freedom you’re given right from the start. As a result, I was able to expand my area of responsibility quickly and gradually.

What do you like most about working at Afinum so far?

Definitely the variety of tasks. A core part of our philosophy is the continuity of the deal team over the entire life cycle of an investment – i.e. from the initial transaction, through support during the holding period and potential acquisitions, to the exit. This promotes professional and personal development. It also promotes entrepreneurial responsibility and working in a team on an equal footing. You contribute to the team’s performance from day one and take on responsibility early on. It’s the contribution that counts, not the hierarchical level. Last but not least, I appreciate the fact that we support topics that inspire us and are compatible with our values.

How would you describe the culture at Afinum?

At Afinum, we are a team of very different characters. I personally see that as a real enrichment. In my opinion, what we all have in common is a down-to-earth attitude, entrepreneurial thinking, empathy and the realisation that success is always a team effort.

What is particularly important to you in new colleagues?

Initiative, curiosity and the necessary analytical skills to deal with the complexity of PE. And very importantly, the qualities mentioned above: Down-to-earthness and empathy.

You have a young son, how is that compatible with your job at Afinum?

Family is very important to the team. Many of our team members are young parents and all senior colleagues also have children and therefore know the challenge of reconciling family and professional life in a sustainable way. The most important thing for young parents who both want to work is flexibility in order to cope with the sometimes unpredictable family life. As a team, we are very output-orientated. This brings with it a certain degree of time autonomy. The ability to work remotely also helps. I would particularly like to emphasise that the parental leave concept also works at Afinum. For example, I took parental leave to help my son settle into the daycare centre. This was welcomed by the team and everyone respected this valuable time for me. After that, it was just business as usual. Ultimately, however, it has to be said that as a private equity fund, we do M&A transactions. These are often competitive, driven by external advisors and with tight timelines. We have to work as a team and be able to rely on each other. Planning and organisational skills are therefore always required.