Skip to main content
    • 75 % - 80 %
    • Long term objective
    • (contribution to GBL's portfolio)

    Investments generally larger than one billion euros, primarily in listed companies, in which GBL can exercise a marked influence over the long terme. They represent the bulk of the portfolio.

    • 10 % - 15 %
    • Objectif à long terme
    • (contribution au portefeuille de GBL)

    Une sélection réduite de participations de taille moins importante (EUR 250 millions - 1 milliard), cotées en bourse ou non, ayant le potentiel de devenir stratégiques dans la durée, au sein desquelles GBL vise à devenir un actionnaire de référence et, pour les sociétés de taille moyenne, à prendre éventuellement une position majoritaire.

    • 10 %
    • Long term objective
    • (contribution to GBL's portfolio)

    Sienna Capital comprises significant investments in private equity, debt or specific thematic funds. GBL intends to reinforce the diversification of its portfolio and achieve its value creation objectives while pursing the development of its alternative investments within Sienna Capital.

About

GBL intends to reinforce the diversification of its portfolio and achieve its value creation objectives by pursuing the development of its alternative investments within its subsidiary Sienna Capital.

Sienna Capital aims at generating attractive risk-adjusted returns by building a diversified portfolio of investment managers delivering a strong performance in their area of expertise (e.g. private equity, debt and specific thematic funds).

Sienna Capital is an active and involved partner for the managers it invests in. it supports them by helping to raise funds, attract talent and source investment opportunities as well as by providing advice on good governance and best practices.

Strategy

Sienna Capital offers a differentiated proposition to investment managers deploying long-term patient capital enabling to secure both attractive financial terms and a role as an active, value-added partner.

Its development and diversification strategy consists of supporting the launch of new funds, as well as examining opportunities for direct commitments into additional investment managers.

Sienna Capital generates revenue via capital gains, interest income, dividends and fees earned through revenue-sharing agreements with its underlying managers.

Performance

In 2017, through its underlying managers, Sienna Capital has indirectly invested EUR 92 million. This amount mainly includes (i) the investment in Keesing Media Group by ECP III, (ii) some add-ons on existing investments by Sagard 3, (iii) the investments notably in Xeris and Ineldea by Mérieux Participations 2, as well as (iv) new transactions completed by Kartesia, PrimeStone and BDT Capital Partners.

Sienna Capital received EUR 318 million, primarily from the sale of Golden Goose and ELITech by ECP III and from the distributions from KCO III.

In September 2017, Sienna Capital committed an amount of EUR 25 million into Backed. In December 2017, Sienna Capital committed EUR 200 million into ECP IV.

In 2017, Sienna Capital’s contribution to GBL’s net dividends amounted to EUR 40 million.

Colin Hall

Sienna Capital - CEO
Tel: +352.27.21.22
colin@sienna-capital.com
www.sienna-capital.com