DFX Intelligence
Private Equity Intelligence
Firms, funds, people, portfolio companies and transactions from sworn filings and cited announcements, kept as a graph with a date and a source on every edge. Reported gross assets are never fund size, regulatory AUM is never dry powder, and a deal value prints only when someone disclosed it.
The names on this page are hidden. Create a free account and they fill in. No card, and every figure, date and source on this page is public either way.
Firms / H•••••• I•••••••• M••••••••• •••••• L••••••
H•••••• I•••••••• M••••••••• •••••• L••••••
H•••••• was founded in 2002 with a simple investment philosophy: to invest in situations where we can influence the main levers of value creation by utilising deep research, employing an active approach to ownership and by drawing on a breadth of structuring expertise. This investment style has delivered consistent, market leading returns for over two decades.
Classification
- Class
- Buyout firmconfirmed, confidence 85%
- Basis
- R6: 6 of 6 distinct vehicles are sworn Private Equity Funds; 6 reported gross assets on a filing in 2022 or later
- Size band
- Lower middle marketdefined by: proxy: $0.40bn Private Equity Fund GAV on the Form ADV filed 2024-03-26
Classification history (1)
- Sep 13, 2026Buyout firm (confirmed, 85%, cls-pe-1)R6: 6 of 6 distinct vehicles are sworn Private Equity Funds; 6 reported gross assets on a filing in 2022 or later
Regulatory footprint (Form ADV)
- Adviser type
- exempt reporting adviser
- Form ADV filings
- Nov 2, 2021 to Mar 26, 2024
- RAUM
- unknownregulatory assets under management of the adviser; not dry powder, not a fund size
- PE funds, latest filing
- 5
- PE fund GAV, latest filing
- $398Mreported gross assets (Form ADV), not fund size
- All private fund GAV
- $398Mevery private fund type, latest filing
- 2024 PE fund GAV
- $398Msum over funds typed Private Equity Fund with a 2024 or later as-of date
- PE share of funds, lifetime
- 100%
- Fund type mix
- filed 2024-03-26, latest gav Private Equity Fund $398M, latest counts Private Equity Fund 5, lifetime distinct Private Equity Fund 6
- Employees
- unknown
- Headquarters
- Sliema, Malta
- Office address
- 35 TIGNE PLACE, OFFICE 2/5 TIGNE STREET, Sliema, SLM 3173
- Business phone
- +356 2033 0219
Stated criteria beside observed behaviour
35 observed deals
Stated by the firm
- Sectors
- not stated or not yet read
- Geography
- not stated or not yet read
- Revenue
- not stated or not yet read
- EBITDA
- not stated or not yet read
- Enterprise value
- not stated or not yet read
- Equity check
- not stated or not yet read
- Control
- not stated or not yet read
- Thesis
- We invest in high-quality, cash-generative small-cap businesses at moments where ownership, leadership or operating model must evolve to realise their full potential.
Observed from deals on record
- roles
- add on 1, unknown 33, platform 1
- period
- to 2025-01-01, from 2004-01-01, undated holdings 13, dated observations 23
- window
- last 2024-09-17, first 2024-09-17
- control
- control 1, unknown 34
- companies
- 35
- geography
- count 1, share 0.029, value TX
- investments
- 35
- seller kinds
- transactions
- 1
- cadence by year
- 2024 add ons 1
- platform add on
- add ons 1, platforms 1, add ons per platform unknown
- sector known for
- 14
- disclosed value usd
- n 0
- sector distribution
- count 7, share 0.2, value software, examples Kalibrate, Sector: B2B software, Escher, Sector: Financial software, count 3, share 0.086, value industrial manufacturing, examples Hydro, Sector: Manufacturing, Fairline, count 2, share 0.057, value aerospace defense, examples Sector: Aerospace and Defence, Llanelec, count 2, share 0.057, value education, examples Sector: Education, Lumi Gruppen
- holding period years
- n 10, median 2.5
- repeat counterparties
- subsector distribution
- count 7, share 0.2, value software, examples Kalibrate, Sector: B2B software, Escher, Sector: Financial software, count 3, share 0.086, value miscellaneous manufacturing, examples Hydro, Sector: Manufacturing, Fairline, count 2, share 0.057, value aerospace defense, examples Sector: Aerospace and Defence, Llanelec, count 2, share 0.057, value education, examples Sector: Education, Lumi Gruppen
35 companies on the graph (1 transactions); most in software (7); 1 platforms and 1 add-ons; median observed hold 2.5 years (n=10); observed 2004 to 2025
Funds
6 on record
| Fund | Vehicle | Vintage | Reported gross assets (Form ADV), not fund size | GAV by year | Form D sold | Lifecycle |
|---|---|---|---|---|---|---|
| H•••••• C•••••••• B• S•••• S••••••••• S•• F••• 1• ADV: Private Equity Fund | Co-investment vehicle | 2024 first reported on Form ADV | $18.4M as of Mar 26, 2024 | no Form D | Unknown | |
| H•••••• A••••• E••••• F••• I•• S•• S•••• R••• ADV: Private Equity Fund | buyout or unlabelled | 2023 first reported on Form ADV | $42.0M as of Mar 26, 2024 | no Form D | Unknown | |
| H•••••• C•••••••• S•••• S•••• R••• S•• F••• 1• ADV: Private Equity Fund | Co-investment vehicle | 2023 first reported on Form ADV | $33.9M as of Mar 29, 2023 | no Form D | Wound down | |
| H•••••• C•••••••• S•••• S•••• R••• S•• F••• 2• ADV: Private Equity Fund | Co-investment vehicle | 2023 first reported on Form ADV | $30.6M as of Mar 26, 2024 | no Form D | Early deployment | |
| H•••••• A••••• E••••• F••• I• S•• S•••• R••• ADV: Private Equity Fund | buyout or unlabelled | unknown | $278M as of Mar 26, 2024 | no Form D | Active deployment | |
| H•••••• C•••••••• S•••• S••••••••• ADV: Private Equity Fund | Co-investment vehicle | unknown | $29.3M as of Mar 26, 2024 | no Form D | Unknown |
Team
28 current, 0 former
Managing partner (4)
- D•••• C•••• · Managing Partner · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- J••••• J•••• W••••••• · CEO · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- M•••••• P•••••• · Founder · start date unknown Press release wires (PR Newswire, GlobeNewswire, Business Wire public pages and RSS)
- M•••••• R•• P•••••• · Founder and Chair of Investment Committee · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
Partner (7)
- A••••• S••••••• · Partner | Investment Team · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- B•••• C••••• · Portfolio Manager | Public Equity · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- F••••••• A••••• · Manager | Investment Team · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- G•••• S•••• · Partner | Investment Team · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- J•••••• B••••••• · Portfolio & Performance Manager | Investment Team · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- J••• W•••••• · ClearStar’s Chairman and Senior Partner · start date unknown Press release wires (PR Newswire, GlobeNewswire, Business Wire public pages and RSS)
- M•••••• R•• P•••••• · Indirect Shareholder · since Sep 1, 2017 SEC Form ADV filing data 2011 to 2024 (Schedule D 7.B.(1) private funds, Schedules A/B, 1.I websites)
Principal (5)
- A••• N•• d• D••••••• · Director · since Nov 1, 2019 SEC Form ADV filing data 2011 to 2024 (Schedule D 7.B.(1) private funds, Schedules A/B, 1.I websites)
- A••••• D•••• B•••••• · Director · since Dec 1, 2019 SEC Form ADV filing data 2011 to 2024 (Schedule D 7.B.(1) private funds, Schedules A/B, 1.I websites)
- G•• C••••••••• · Director | Investment Team · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- J••••• J•••• W••••••• · Director · since Nov 1, 2022 SEC Form ADV filing data 2011 to 2024 (Schedule D 7.B.(1) private funds, Schedules A/B, 1.I websites)
- S•••• N•• G•••• · Director · since Jul 1, 2019 SEC Form ADV filing data 2011 to 2024 (Schedule D 7.B.(1) private funds, Schedules A/B, 1.I websites)
Vice president (1)
- L•••• A••••••• · Senior Associate | Investment Team · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
Operating partner (4)
- A••••• C•• · Partner | Value Creation Team · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- C•••• C••••• · Procurement Director | Value Creation Team · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- J••••• F••••• · AI Associate | Value Creation Team · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- M•••••• C••••• · Senior Partner | Value Creation Team · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
Platform (6)
- A•••••• N•• C••••• · Chief Compliance Officer · since Oct 1, 2019 SEC Form ADV filing data 2011 to 2024 (Schedule D 7.B.(1) private funds, Schedules A/B, 1.I websites)
- A••••• D•••• B•••••• · CFO and MD of Funds · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- D•••• C••••• · Financial Controller and Compliance Manager | Operations · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- I•••• C•••••••• · Funds Controller | Operations · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- L•••• B•••• · Executive Assistant · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- R••••• A•••••••• · Financial Controller | Operations · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
Other (1)
- R•••••• B•••••• · Head of Responsible Investment · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
Portfolio
41 relationships, 1 platforms, 1 add-ons
Transactions
5 on record
| Date | Type | Target | This firm’s role | Source |
|---|---|---|---|---|
| Mar 31, 2026 | Platform acquisition | L••••••• P•••••••• E••••••••• | Sponsor (confirmed) | hanoverinvestors.com |
| Sep 17, 2024 | Add-on acquisition | I••• C•••• | Sponsor (derived) | hanoverinvestors.com |
| Sep 19, 2023 | Add-on acquisition | P•••••••• | Sponsor (confirmed) | hanoverinvestors.com |
| Dec 1, 2021 | Add-on acquisition | E••••••••• S•••••••• R•••••••• | Sponsor (confirmed) | hanoverinvestors.com |
| Oct 19, 2021 | Add-on acquisition | I•••• T•••••• S•••••••• | Sponsor (confirmed) | hanoverinvestors.com |
Placement agents, lenders, advisers and co-investors
5 relationships
Placement agents (5)
- T•• N•• A•••••••• G•••• B•• 1 shared · one time · last Jan 1, 2023
- T•• D•••••••• G•••• 1 shared · one time · last Jan 1, 2023
- K•••• C•••••• 1 shared · one time · last Jan 1, 2024
- C••••••• P••••••• 1 shared · one time · last Jan 1, 2023
- T•• N•• A•••••••• G•••• B•• 1 shared · one time · last Jan 1, 2024
LP commitments
0 disclosed
No LP commitment collected yet. An LP edge needs a public disclosure with a quote, such as a pension plan’s report or an announcement naming the LP.
Events
16 most recent
- Mar 31, 2026H•••••• I•••••••• acquires L••••••• P•••••••• E•••••••••
- Mar 30, 2026H•••••• I•••••••• acquires L••••••• P•••••••• E•••••••••
- Nov 15, 2024N•• E•• E••••• acquires Commercial Fuel S••••••••
- Sep 17, 2024K•••••••• announces acquisition of I••• C••••
- Feb 15, 2024H•••••• I•••••••• makes significant equity investment into N•• E•• E•••••
- Sep 19, 2023Z••••••••• acquires P•••••••• – A leading Austrian digital signage company
- Feb 7, 2023H•••••• I•••••••• launches Private Equity Fund III
- Jul 21, 2022B•••• T••••••••• Announces the Sale of its Commodities Business to STG
- Jan 24, 2022H•••••• I•••••••• appoints Brett Lankester as Senior Partner
- Dec 15, 2021International Certification Agency eCogra acquired by H•••••• I••••••••
- Dec 1, 2021ClearStar announces the acquisition of E••••••••• S•••••••• R•••••••• (ESR)
- Nov 23, 2021F••••••• appoints New Chairman and CEO as it charts future course
- Nov 2, 2021H•••••• I•••••••• M••••••••• •••••• L•••••• first filed Form ADV in the extract (ERA)
- Oct 19, 2021B•••• T••••••••• acquires I•••• T•••••• S•••••••• to accelerate growth in European energy markets
- Sep 22, 2021H•••••• I•••••••• appoints J••••• W••••••• as its first Chief Business Officer
- Sep 2, 2021E••••• Acquires Syslore to Help Posts Reduce Parcel Processing and Sortation Costs