# Tengelmann Growth Partners

Tengelmann Growth Partners is a Private Equity based in Munich, Germany.

## Overview

- **Organization type:** Private Equity
- **Headquarters:** Munich, Germany
- **Region:** Europe
- **Address:** Munich, Germany
- **Founded:** 2021
- **Assets under management:** Undisclosed
- **Website:** tengelmanngrowthpartners.com
- **LinkedIn:** https://www.linkedin.com/company/tengelmanngrowthpartners

## Regulatory record

- **Reports private funds:** No

## About

Tengelmann Growth Partners is a family equity investor seeking investments in growth-oriented small- to medium-sized companies. It primarily focuses on growth financings, succession solutions and Buy-and-Build concepts in fragmented and growing markets, and supports Entrepreneurship through Acquisition (ETA) including management buy-ins and roll-up concepts. Its entrepreneurial track-record traces back more than 150 years and its combined investment experience exceeds 50 investments.

## Questions

### How is Tengelmann Growth Partners connected to the Tengelmann retail group?

It operates as the dedicated growth-equity investment arm of the Tengelmann Group, the holding company controlled by Germany's Haub family. Unlike a traditional fund, it invests permanent capital sourced from the family's balance sheet. The parent group's retail assets include the Obi hardware chain and the KiK discount clothing retailer, giving the investment arm direct operational insight into consumer markets.

### What kind of deals does the firm target?

Tengelmann Growth Partners focuses on growth-stage equity investments in digital commerce, consumer brands, logistics technology, and enterprise software that serves the retail industry. It invests directly from the family's permanent capital base rather than from a blind-pool fund structure. This permits flexible deal terms and indefinite holding periods uncommon among institutionally backed growth-equity funds.

### Does Tengelmann Growth Partners invest outside of Germany?

Yes, the firm has a mandate that spans Europe and North America, though Germany and the broader DACH region constitute its historical center of gravity. Past portfolio holdings, such as HelloFresh, have had an international dimension, and the team evaluates deal flow across major Western consumer markets.

### Does Tengelmann Growth Partners disclose its assets under management or returns?

No. In keeping with the Haub family's closely held approach to its financial affairs, Tengelmann Growth Partners does not publicly disclose its assets under management, deployment pace, or portfolio returns. Its investment activity is only visible through the occasionally disclosed minority stakes in growth-stage companies.

## Related profiles

- [Tenex Capital Management](https://altss.com/profile/tenex-capital-management)
- [Tengelmann Ventures](https://altss.com/profile/tengelmann-ventures-management)

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Last updated: 2026-08-11T15:08:18.003Z

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