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Getting value out of Special Situations – The approach of Aurelius Invest to leverage operational improvements

  • KMPG 16 Vasagatan Stockholm, Stockholms län, 111 20 Sweden (map)

Special situations investing relies on successfully implementing and securing operational improvements within portfolio companies. Contrary to Leveraged Buyouts, special situation investments in most cases will not be suitable for financial engineering and leverage to generate returns for investors. Stabilizing and improving the operational performance of a company not only protects the initial investment, it is also the most important value lever for any Special Situations investor. Leif Lupp, Head of Nordics for Aurelius Invest gives his view on opportunities for value investing and special situations in the Nordic region and showcases examples of how value can be created.

Leif started his career at Barclays Bank, where he advised large European corporate clients on arranging Mergers & Acquisitions as well as Corporate Financing solutions. Subsequently, Leif was the Head of Corporate Finance at the Danish wind-turbine maker Vestas Wind Systems, where he was part of the management team that secured Vestas‘ turnaround back in 2012/2013. Prior to joining Aurelius, Leif was active as a private equity investor with IMCap Partners, an investment platform for small- to medium-sized companies, which he co-founded. Within Aurelius, Leif is responsible for Aurelius’ investment activity in the Nordic region.

Aurelius is a pan-European multi-asset manager that invests across the capital structure in a wide range of sectors. Its investments are focused on Small- to Mid-Cap companies in extraordinary situations with operational improvement potential. The Aurelius Group is listed on the Munich stock exchange and operates offices in Munich, London, Stockholm and Madrid. The Aurelius portfolio currently consists of 25 portfolio companies, generating annualised revenues of ca. EUR 3.5bn.