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Kempen European Private Equity Fund II
Van Lanschot Kempen's European private equity fund-of-funds channels family-office capital into mid-market buyout GPs across Western Europe.
Kempen European Private Equity Fund II
Van Lanschot Kempen, the parent institution, brings over 300 years of Dutch merchant-banking heritage to the private equity fund-of-funds model. The group's multi-family office division, anchored in Amsterdam, deploys client capital across public and private markets, with this dedicated vehicle providing European mid-market buyout exposure to families who otherwise might not access the smallest end of institutional private equity. By aggregating commitments through a single pooled vehicle, the fund aims to replicate the diversified, vintage-year programmatic approach that large institutional LPs employ. Strategy runs exclusively through external managers: Kempen capital operates as a limited partner in a curated set of small and mid-sized buyout funds across Western Europe. The vehicle targets buyout GPs who raise sub-€1 billion funds and concentrate on control-oriented transactions in sectors such as industrial technology, business services, healthcare, and niche manufacturing — the classic European mid-market. Reported commitments in prior fund iterations include managers active in the DACH region, the Benelux, and the Nordics, though specific current GP relationships remain tightly held. The structure does not pursue direct co-investments or secondary transactions, maintaining a pure primary fund-of-funds posture that minimizes operational overlap with the parent manager's separate direct-investment teams. The fund sits within Van Lanschot Kempen's private markets division, which manages commitments for both the firm's proprietary balance sheet and external clients. Portfolio oversight draws on the broader investment office in Amsterdam, though dedicated professionals for this specific vehicle are not publicly enumerated. The firm operates a separate, publicly listed parent company that reports consolidated AUM of approximately €100 billion, primarily in fiduciary management and traditional asset classes, making the private equity fund a concentrated carve-out rather than a standalone entity. Co-investors in parallel vehicles have historically included Dutch entrepreneurial families and European institutional investors. What distinguishes this fund from a standard multi-manager program is its anchoring inside a wealth manager obligated to fiduciary duty rather than to maximizing fee revenue from the underlying GPs. The vehicle avoids open-architecture fund platforms that layer third-party distribution costs; instead it serves existing family-office clients with a built-in governance framework and portfolio-construction discipline inherited from the parent bank's institutional fiduciary mandates. Succession risk for the private equity program is mitigated not by a single key-person clause but by the parent balance sheet's financial interest in maintaining continuity across market cycles.
General information
Firm type
Multi Family Office
Year founded
—
AUM
Undisclosed
Location
Region
Europe
Country
Netherlands
City
Amsterdam
Corporate office
Amsterdam, Netherlands
Sector focus
Frequently asked questions
How does the fund select the underlying buyout managers?
The investment team targets European mid-market buyout GPs raising sub-€1 billion funds with demonstrable operational value-creation capabilities. Selection prioritizes managers who take control positions in established small and medium-sized enterprises rather than pursuing minority or growth-equity strategies. The due diligence process evaluates track records across full economic cycles, with specific attention to realized distributions and alignment of GP co-investment capital alongside limited partners.
Does the fund participate in direct co-investments alongside its selected GPs?
No. The vehicle operates as a pure primary fund-of-funds, committing exclusively to commingled fund vehicles rather than pursuing direct co-investment or secondary transactions. This posture avoids the resource-intensive operational demands of direct deal evaluation and maintains a clear separation from Van Lanschot Kempen's other investment activities.
What is the relationship between this PE fund and Van Lanschot Kempen's broader asset management business?
The fund sits within Van Lanschot Kempen's private markets division, operating as a dedicated vehicle for the firm's fiduciary and multi-family office clients. The parent company, a publicly listed Dutch merchant bank, supports the fund with institutional infrastructure and governance but maintains the PE program as a distinct allocation sleeve separate from the firm's direct asset management and proprietary trading activities.
Which European geographies does the fund target through its underlying commitments?
Primary geographic exposure spans the DACH region (Germany, Austria, Switzerland), the Benelux countries, and the Nordics, with additional commitments to funds focused on France and the United Kingdom. The fund avoids concentrated single-country exposures, constructing a portfolio that captures the granular end of Europe's middle market where local GPs maintain informational advantages over pan-European mega-funds.
How does Kempen align its interests with the families invested in this fund?
Van Lanschot Kempen's fiduciary mandate structure, inherited from its Dutch banking heritage, places legal obligation on acting in clients' best interests rather than on maximizing distribution revenue. The private equity fund serves existing multi-family office relationships under this framework, with the parent balance sheet typically participating alongside external clients to ensure alignment through shared economic exposure.
What is the minimum commitment size for investors in the fund?
Specific minimum commitment thresholds are not publicly disclosed, though Van Lanschot Kempen's multi-family office typically structures private market vehicles with entry points calibrated for significant family-office mandates. Prospective investors should engage the firm's dedicated private markets team directly to review current availability, as the fund is distributed exclusively through the parent group's advisory network rather than through open platforms.
What types of underlying companies do the selected buyout GPs typically acquire?
The underlying GPs target control-oriented investments in established European SMEs with enterprise values generally ranging from €50 million to €500 million. Sector concentrations lean toward industrial technology, business services, healthcare, and niche manufacturing — businesses characterized by stable cash flows, fragmented ownership structures, and operational improvement potential rather than technology-risk or venture-scale growth profiles.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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