# Castik Capital

Castik Capital is a Private Equity based in Luxembourg, Luxembourg.

## Overview

- **Organization type:** Private Equity
- **Headquarters:** Luxembourg, Luxembourg
- **Region:** Europe
- **Address:** Luxembourg, Luxembourg
- **Founded:** 2014
- **Assets under management:** Undisclosed
- **Website:** www.castik.com

## Regulatory record

- **CRD number:** 309487
- **SEC file number:** 802-119143
- **Registration status:** Registered
- **Reports private funds:** Yes
- **IAPD record:** https://adviserinfo.sec.gov/firm/summary/309487

## About

Castik Capital is a Luxembourg-based private equity firm with offices in Luxembourg and Munich. The firm manages the EPIC fund series, including EPIC I (€1 billion, closed 2015), EPIC II (€1.3 billion, closed 2020), EPIC I-b (€0.7 billion single asset fund, closed 2021), and EPIC III (€2 billion, closed 2024). Castik Capital's portfolio includes AddSecure.

## Sectors

- Enterprise Software
- Healthcare Services
- Industrial Tech
- Financial Services

## Offices

- Munich, Germany

## People

- Michael Phillips — Founder and Managing Partner
- Daniel Pindur — Partner

## Questions

### How is Castik Capital's fund structure different from a traditional private equity fund?

Castik raises committed capital with a permanent or extremely long-dated structure rather than the standard ten-year closed-end fund. This means the firm is not forced to sell portfolio companies to return capital to limited partners on a set schedule. It can hold assets for ten to fifteen years if the investment thesis warrants, and it can recycle realized proceeds into new investments without launching a new fundraise. The model is designed to align with the natural growth trajectories of founder-led businesses.

### Who runs investment decisions at Castik Capital?

Michael Phillips, the founder and managing partner, leads the investment team alongside partner Daniel Pindur. Phillips spent over a decade at Apax Partners before launching Castik in 2014. The firm operates with a small senior team, meaning investment committee decisions are centralized among a handful of partners rather than a large, multi-layered committee structure common at larger buyout managers.

### What is Castik Capital's track record with specific portfolio companies?

Castik's first investment, Waterlogic, was a workplace water-dispenser business it acquired in early 2015. The firm scaled Waterlogic through add-on acquisitions and operational improvements before selling it to Culligan in a reported $2 billion transaction in 2020. A more recent disclosed investment is Think-cell, a German presentation-software company Castik backed in 2021, which represents its focus on European software champions with strong recurring revenue.

### What investment stages does Castik Capital typically target?

Castik targets established, cash-flow-positive businesses undergoing some form of corporate transition — succession, carve-out, or growth-equity expansion. It does not invest in early-stage or venture-stage companies. Typical enterprise values range from roughly €200 million to €1 billion. The firm has the flexibility to hold minority positions or pursue full buyouts depending on the founder's objectives.

### Where does Castik Capital's investor capital come from?

Castik's initial backing came from a concentrated group of institutional investors including the European Investment Fund. With the closing of its second vehicle at roughly €3.4 billion in 2024, the investor base has expanded to include pension funds, sovereign wealth funds, and endowments, primarily from Europe and North America. The firm does not publicly disclose a full LP roster.

### How does Castik source proprietary deal flow?

Phillips and his team rely heavily on relationships built during their tenure at Apax Partners and across the European mid-market. Castik's permanent-capital structure is itself a sourcing advantage — founders negotiating a sale often prefer a buyer who can hold indefinitely rather than one who must exit within five years. The firm targets situations where a family or founder is selecting a partner based on cultural fit and time horizon rather than purely on price.

## Related profiles

- [Castelnau Group](https://altss.com/profile/castelnau-group)
- [Castile Ventures](https://altss.com/profile/castile-ventures)

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Last updated: 2026-07-10T03:01:27.000Z

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