THE PRIVATE MARKET EXPERTS

Responsability

|

Experience

|

Independence

BB Alternative Partners

Comprehensive Support For Your Investments In The Private Markets

The Company

BB Alternative Partners is an independent consultant for Alternative Investments with a focus on Private Equity and Private Debt. The company was founded in 2011 by two former portfolio managers responsible for the alternative assets portfolio of a large German insurance group. We support our clients in the implementation of their investment strategies in the private markets segment. The service spectrum covers strategy development as well as fund selection, subscription support and a broad range of services around the ongoing portfolio management such as reporting and monitoring.

It is always our clear aim to provide our clients with the best and most efficient solution in a complex and challenging market environment. Many years of comprehensive, hands-on experience make us a valuable and reliable partner for our clients.

BB Alternatives Partners is managed by its owners and BaFin-regulated.

Services for Institutional Clients (LPs)

BB Alternatives offers its clients services around indirect (funds) as well as direct investments (direct participations and co-investments). As an external team we support and complement internal resources and leverage our expertise and know-how with regards to allocation to and management of Alternative Assets. Our broad and continuously growing network combined with deep knowledge of the complex and challenging regulatory environment are key components in adding value to the internal decision-making processes of our clients.

Strategy

Development of tailor-made strategies perfectly satisfying the individual requirements and preferences of the investor. Our approach is highly standardised and built on a set of seven basic criteria. Sophisticated portfolio models help illustrate the effect of changes in various parameters and provide a high degree of transparency.

Fund Selection

Based on our market knowledge, access to managers and highly structured and established processes, we select the best funds for our client portfolios. We provide a comprehensive overview of the relevant market and manager universe and clearly highlight differentiating factors of the various fund offerings.

Due Diligence

Client feedback regularly emphasises the very high quality of our due diligence as a best-in-class product. Highly in-depth while still focused on the essentials. Due Diligence reviews are available in three levels of details and scopes, so that investors can flexibly determine their own internal level of involvement.

Fund Scoring

Our fund scoring offers a quick, standardised and quantitative approach to fund assessment and manager benchmarking. The manager and fund under review are scored and benchmarked in six categories comprising more than 70 criteria.

ESG Scoring

Our ESG scoring tool evaluates manager strategies according to their ESG performance and awareness. Both manager and fund under review are assessed based on 50 criteria in five categories with information provided verified within a comprehensive personal interview with ESG Officers and Portfolio Managers. The scoring results allow for an unbiased comparison of managers in terms of their ESG awareness.

Reporting

Our flexible reporting platform allows for reporting essential data efficiently and clearly arranged at portfolio level as well as down to each underlying investment. This specifically supports middle and back office resources as well as portfolio managers, which are otherwise heavily burdened by processing the managers' comprehensive reports individually. It further fulfills the extensive and increasing transparency requirements stipulated by regulatory authorities.

Co-Investments

We analyse co-investments offered by fund managers in terms of quality, pricing and strategic fit with the client's portfolio. If requested, we further assist in preparing relevant committee documents and support the on-boarding process of a new investment.

Secondaries

Based on our comprehensive manager and investor network our clients regularly benefit from secondary buy side and sell side opportunities offered. We furthermore provide efficient support to our clients in the review and execution of secondary transactions.

Services for private markets fund managers (GPs)

Based on the team’s former insurance-related background and longterm experience BB Alternatives offers valuable support to GPs in optimising strategies and portfolios specifically with regard to questions around Solvency II and relating capital efficiency issues.

Solvency II - Optimisation

The founders of BB Alternatives have historically managed the Private Markets portfolio of an insurance group for several years and are therefore highly familiar with regulatory requirements and implementing SII-compliant reportings and processes from the very beginning. This enables us to optimise investor portfolios prior to the first investments or on an ongoing basis alike by adjusting the strategy with regard to the regulatory requirements. Applying the thorough look through approach to the individual investments of a fund gives us the opportunity to measure and influence the average solvency capital requirements created by each new investment. BB Alternatives provides a written assessment of how much solvency capital will be required for the envisaged strategy or portfolio of a new fund over its lifetime before capital is being deployed.

Regulatory Reporting

We offer Solvency II reportings in line with the Tripartite template standard. We furthermore provide overviews allowing the fund manager to evaluate the specific capital requirements each individual investment creates for the investor in absolute as well as relative terms. We also prepare the prescribed reports for our clients in accordance with the regulatory requirements under Basel III and VAG.

Sustainability

For BB Alternatives, the consideration of sustainability is an integral part of our firm‘s philosophy. As an independent advisory firm for Alternative Assets, this is particularly crucial as part of the fund selection process we provide. A strong integration of ESG factors into the selection process is to our clients and therefore to us in establishing and maintaining a stable and long-term value generating private markets portfolio. BB Alternatives is convinced that excellent ESG management and transparency are not only relevant against the background of comprehensive risk management but also actively contribute to a better risk-return profile.

> Our ESG-Statement

BB Alternatives Team

Sabine Fischer - Managing Partner

After two years as part of the Corporate Development Team at Rheinmetall AG, Sabine joined the Transaction Advisory Team of Ernst & Young in Düsseldorf as Manager in 2000 and executed numerous Financial and Commercial Due Diligence projects for clients from a broad range of industries. In 2004 she transferred to the M&A Team of Ernst & Young in London for two years being in charge of different buy-side and sell-side mandates in the Energy and Utilities segment.

Beginning of 2007 she joined Gothaer Asset Management AG in Cologne together with her colleague Alexander Bode taking over the management of the Private Markets portfolio, developing and implementing a new strategy for the entire portfolio of direct and fund investments. For more than 6 years the two partners actively managed the portfolio and interacted closely with further group functions such as the middle and back office teams as well as legal and tax.

Sabine holds a master’s degree in economics and business administration from Heinrich Heine University Düsseldorf and has been a Chartered Financial Analyst (CFA) charterholder since 2006.

Alexander Bode - Managing Partner

Alexander Bode worked with A.T. Kearney in Düsseldorf for two years focusing on restructuring projects and the development of market strategies for the construction and adjacent industries. Following this, Alexander managed corporate restructurings including taking over interim management functions and leading M&A transactions with CMS in Berlin for four years.

At J.W. Ostendorf, a producer of paint and varnishes, he headed the Corporate Development team and executed Europe-wide acquisition processes, following integration projects including dedicated PMI-programmes, introduction of SAP as well as taking over of management functions.

Beginning of 2007 he joined Gothaer Asset Management AG in Cologne taking over the management of the Private Markets portfolio together with his colleague Sabine Fischer, developing and implementing a new strategy for the entire portfolio of direct and fund investments. For more than 6 years the two partners actively managed the portfolio and interacted closely with further group functions such as the middle and back office teams as well as legal and tax.

Alexander holds a master’s degree in economics and engineering from the Technical University of Berlin and is a Chartered Alternative Investment Analyst (CAIA) charterholder.

Christopher Dax - Senior Analyst

Christopher Dax joined the team in September 2017 after working as an intern for BB Alternatives. Prior to that he interned at an international financial cooperative. Christopher holds a B.Sc. in economics with a minor in finance from the University of Cologne.

Roman Gsella - Senior Analyst

Roman Gsella joined BB Alternatives in May 2018. During his studies he gained experience in the finance department of an international chemical company. Roman holds a B.Sc. in Business Administration with a specialisation in accounting & finance from the University of Marburg.