Armen, a European pioneer in GP stakes, has acquired a minority stake in Vendis Capital, a European consumer-focused buyout firm, marking the fifth investment of Armen GP Stakes Fund I and the first transaction in the buyout space.
Through a minority investment, Armen aims to support the growth and strategic development of Vendis, notably by enabling Vendis’ management team to invest significantly in the next fund, thereby strengthening the alignment with investors. Armen intends to bring its experience to the company’s management team while facilitating a generational transition.
Founded in 2009 by Michiel Deturck and Cedric Olbrechts and later joined by Vincent Braams, the team is based in Belgium, the Netherlands, France, Germany, and the Nordic countries. Itl currently manages over €1.1bn and has just closed its latest fund Vendis IV at €525 m.
This investment marks the fifth commitment of Armen GP Stakes Fund I, demonstrating the sustained momentum of the European GP Stakes market. Armen continues to build a diversified and balanced portfolio composed of leading mid-market management companies.
The transaction has been signed; it will become effective upon completion of the closing.
