Tech advisory and investment firm GP Bullhound on Monday said it is opening an Luxembourg office after the national supervisor gave a green light to application for a licence as Alternative Investment Fund Manager, or AIFM. In parallel to the Luxembourg launch, the company is opening a new office in Zurich.
The company’s presence in the grand duchy will serve as its operations and compliance centre and will focus on fund management activities such as portfolio and risk management and valuations; marketing of new funds; and local investment banking activities.
The company sought the CSSF licence so it can now manage its own funds and be in complete control of the entire investment process – from distribution to final exits. According to the CSSF website, the licence was granted on 9 March.
Committed to tech ecosystem
“We are greatly committed to the Luxembourg tech ecosystem,” said Alek Jakima (pictured), GP Bullhound Director and one of the conducting officers in the new Luxembourg office. “We are not only an AIFM, as we are also hiring a dealmaker to bring our advisory expertise to the Luxembourg market and engage with the local tech industry.”
With its Luxembourg office, GP Bullhound plans to “ensure post-Brexit continuity and compliance for GP Bullhound’s advisory and investment activities”. The company also foresees “close collaboration” with local entrepreneurs and investors to further strengthen the local ecosystem.
“Luxembourg and Zurich have become key financial and tech hubs, and these new offices fit our firm’s global development strategy,” said Per Roman, Co-Founder and Managing Partner of GP Bullhound.
Local presence
“Local presence allows us to offer the best possible services and products to our clients and investors, as well as strengthens GP Bullhound’s position as a leading advisor and investor in the technology sector globally,” he said.
Jakima has 16 years of multi-jurisdictional experience in the structuring, administration and oversight of funds, spanning a broad range of regulatory, compliance, operational and management expertise gained in Luxembourg, Ireland, Poland and Italy.
The local six-strong team is looking to fill two additional senior positions in the coming weeks. The company plans to hire an additional portfolio manager – based in Luxembourg – to support local deal sourcing activities.
In addition, GP Bullhound is known in other markets for its tech reports and surrounding events and plans to organise similar get-togethers in Luxembourg to animate the exchange between local tech companies and investment opportunities.
GP Bullhound holds about one billion euro in assets under management and has three funds, a Spac and a number of co-investment vehicles already domiciled in Luxembourg. “It was only logical to open and grow an office in EU’s most important financial centre,” said Roman.
Notable exits
Founded in 1999, with a team of more than 180 employees spread across three continents, the firm adds to existing offices in London, San Francisco, New York, Berlin, Paris, Stockholm, Madrid, Hong Kong, Manchester and Marbella. Among the company’s most notable exits are Spotify, Slack, Unity, Busuu, while the current portfolio comprises, among others, Revolut, Klarna, Vivino, Glovo, Discord and DuckDuckGo.
GP Bullhound launched its first Luxembourg-domiciled fund in 2017. The company has also established close relations with institutional investors such as the European Investment Fund and Luxembourg Future Fund.
GP Bullhound’s ambition is to become a major asset manager for tech entrepreneurs around the globe. It is a leading global advisor to companies and their owners on capital transactions and competitive international sale and acquisition processes. The firm offers a broad range of investment products across public and private markets, from growth equity to private credit to listed technology champions. Its limited partners include institutions, family offices and entrepreneurs from all over the world.
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