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P+P advised the Hamburg-based private equity firm BPE on launch of the new buyout fund BPE 4

P+P Pöllath + Partners advised the Hamburg-based private equity firm BPE, a P+P client since 1998, on all legal and tax matters related to the successful launch of BPE 4 Beteiligungen GmbH & Co. KG, a buyout fund.

With an initial closing at the end of December 2019 and a final closing in March 2020, they achieved the subscription volume goal of EUR 135 million.

The focus of the new fund – like the predecessor fund – is on solving the problems of succession (particularly through management buy-ins) in small German Mittelstand companies which are no longer part of the core business of the respective corporate group. Investments solely consist of controlling majority stakes.

P+P advised BPE on contract law, tax and regulatory aspects of the fund structuring, as well as on negotiations with domestic and foreign investors with the following private funds team in Berlin: