Hentschel succeeds Vieregge in the NORD Holding Supervisory Board - Vieregge retires after 16 years in office
Hentschel, whose chief function is Chairman of the Board of the Sparkasse Osnabrück succeeds Dr. Hans Vieregge, who is retiring after 16 years in office. Up till now Hentschel was the deputy Supervisory Board Chairman.
This position will in future be held by Dr. Heinrich Jagau, deputy Chairman of the Board of the Sparkasse Hannover. A new member of the Supervisory Board is Eckhard Forst, whose NORD/LB executive board responsibilities include the corporate customer base. Mr Forst will also be a member of the NORD Holding HR committee.
During Vieregge's term of office NORD Holding developed from being purely a provider of silent partnerships to become one of the leading German investors providing funding and structuring company successor profiles for SMEs. More recently spin-offs of medium sized business units from large corporations have played a greater role in NORD Holding's portfolio of activities.
At present the company has holdings in roughly 50 companies in Germany, Austria and Switzerland. Simultaneously it manages two Fund of Funds that are invested in domestic or overseas Private Equity Funds.
"There is virtually no other financial investor in Germany that can claim a 40 year history. Experience, continuity and the readiness to forge new paths are what characterise NORD Holding. I have very much enjoyed being party to this successful development over such a long period", Vieregge emphasized in his farewell address.
About NORD Holding
With its 50-year history and over € 2.0 billion Assets under Management, NORD Holding is one of the leading Private Equity Asset Managers in Germany with a focus on direct and fund investments.
The direct investments division of NORD Holding focuses on structuring and financing company succession models, acquiring parts of larger groups/subsidiaries as well as on expansion financing of medium-sized companies. In contrast to most other financial investors, who only manage closed-end funds, NORD Holding acts as a so-called "evergreen fund", thereby investing from its own balance sheet with no maturity restrictions. Currently, the fund has interests in more than 15 companies in the DACH region.
The fund investments division targets the small- and mid-cap segment of the European private equity market through primaries, secondaries and co-investments.
NORD Holding has a strong focus on emerging buyout managers, hands-on investment strategies and regularly acts as an anchor investor. The division manages € 1.3 billion and ranks among the top decile fund investment groups in Europe.