Industry Leader in Private Asset and Fund Optimization Establishes Base of Operations in UK/EU
The newly formed Kirchner-Nova strategic alliance will leverage the unprecedented experience and proprietary models related to under resourced – underperforming and end of fund life for VC and PE assets pioneered by Kirchner Group via a team of highly experienced asset managers based in Europe.
Kirchner Group and Nova Capital Management Form Strategic Alliance
Birmingham AL, London and New York – 20 October 2020 – Kirchner Group is pleased to announce that in response to market demand it has formed a joint venture with Nova Capital Management.
The newly formed Kirchner-Nova strategic alliance will leverage the unprecedented experience and proprietary models related to under resourced – underperforming and end of fund life for VC and PE assets pioneered by Kirchner Group via a team of highly experienced asset managers based in Europe. Kirchner-Nova will focus on private asset and fund optimization services for LPs and GPs in the United Kingdom and European Union.
“Since first developing this model over a decade ago, we have seen a steady increase in demand as we have customized our services to create value for both LPs and GPs,” commented W.B. (Bud) Kirchner, Founder and CEO of Kirchner Group. “Our extensive hands-on experience in creating liquidity and return on capital in a variety of underperforming and end of life funds has created a demand beyond our original base of North America and we are excited to partner with Nova to address this need.”
Kirchner has been deploying its unique private asset and fund optimization model and incorporating ‘lessons learned’ since pioneering it in 2004. The model has been developed across a series of funds ranging from early stage venture to mid-market buyout. The firm has created significant value in over twelve funds, including more than 130 companies around the world – in a spectrum of roles including: Assessments – LP Advisor – LPAC Advisor – Co-GP – Successor GP. Kirchner’s clients include HarbourVest, Landmark Partners, CIGNA, Prudential, Glouston Capital and many others, including family offices, commercial banks and institutional investors.
Nova has been managing private equity portfolios and investments across Europe since its 2002 formation. In addition to managing investments in its own funds, it has also undertaken a number of bespoke assignments to manage investments on behalf of limited partners and general partners wanting to introduce Nova’s strong operational portfolio management approach to their investments. Nova has been working successfully in partnership with the Kirchner Private Asset and Fund Optimization Group on a portfolio over the last five years, and that strong working relationship has formed the bed-rock of the new strategic alliance.
David Williamson, CEO of Nova commented, “We have worked very productively with the Kirchner team over the past 5 years, achieving a significant turnaround in performance of an underperforming portfolio. I believe we are a very effective team with complementary skillsets. What we have in common are our strong operational skills and transparent communication styles. We are very excited to be formalizing our relationship through this joint venture and to be able to introduce Kirchner’s private asset and fund optimization knowhow into the European market.”