Attestor

Attestor is a London-based investment firm founded in 2012 by Jan-Christoph Peters, who serves as its CEO. The firm describes itself as a value investment firm that invests its own long-term and patient capital in global opportunities. Rather than operating as a conventional asset manager raising third-party funds, Attestor positions itself as a principal investor willing to take concentrated, often controlling positions in businesses and assets that require restructuring or a turnaround. Attestor's core specialisation is distressed assets. It typically acquires loans or bonds of troubled companies and projects, or takes equity stakes, with the aim of restructuring the underlying business and realising value over a long horizon. The firm states that it is not restricted by sector or geography, and that individual commitments can reach several hundred million euros. Its reported assets under management stood at roughly six billion euros as of 2022. Among its most prominent engagements, Attestor took a majority stake in the German airline Condor in 2021, acquiring 51 percent through a capital increase while the remaining 49 percent was held in trust by SG Luftfahrtgesellschaft on behalf of the German federal government and the state of Hesse. Attestor provided Condor with 450 million euros, of which 200 million euros was equity, to expand the business and modernise the fleet, and holds an option to acquire the remaining shares. Other notable investments include a stake in the car rental company Europcar together with a credit line, the acquisition of the Mandarin Oriental Lago di Como hotel property, and participation in the takeover and restructuring of the French retailer Casino. In March 2024 Attestor granted a 100 million euro loan to the insolvent Signa Prime Selection AG, part of the Signa Holding group. Attestor operates as a private investment company rather than a listed vehicle. Its approach blends private equity, credit and special situations investing, with a stated preference for long-term, patient capital and hands-on involvement in the companies and assets it backs.

Attestor was established in 2012 in London by Jan-Christoph Peters, who was born in Wiesbaden, Germany, and remains the firm's CEO. From the outset the company framed itself as a value investment firm deploying long-term, patient capital into global opportunities, rather than as a traditional fund manager dependent on external fundraising. The firm built its business around distressed assets and special situations. Its typical method is to acquire the loans or bonds of companies and projects in financial difficulty, or to take equity positions, and then work on restructuring the underlying business with a view to a turnaround. Attestor has stated that it is not constrained by industry or geography, and that individual investments can reach several hundred million euros. By 2022 its assets under management were reported at approximately six billion euros. One of Attestor's most significant engagements has been the German airline Condor. Condor ran into financial difficulty from September 2019 after the insolvency of its parent company Thomas Cook, despite reporting positive results. It received a bridging loan of up to 380 million euros from KfW, guaranteed by the Federal Republic of Germany and the state of Hesse. A planned sale in early 2020 to Poland's Polska Grupa Lotnicza (PGL), the parent of LOT, fell through as the COVID-19 pandemic hit aviation. Under Germany's pandemic shield programme, Condor received state loans of around 550 million euros, which repaid the bridging aid and secured further liquidity. The search for a new owner concluded successfully in May 2021, when Attestor acquired 51 percent of the company through a capital increase; the remaining 49 percent was held in trust by SG Luftfahrtgesellschaft on behalf of the German federal government and the state of Hesse. Attestor holds an option to acquire the remaining shares. To expand the business and modernise the fleet, Attestor made 450 million euros available to Condor, of which 200 million euros was equity. Beyond Condor, Attestor's larger engagements have included a stake in the car rental company Europcar, together with the granting of a credit line; the acquisition of the property of the Mandarin Oriental Lago di Como hotel; and participation in the takeover and restructuring of the French retailer Casino. In March 2024, Attestor granted a loan of 100 million euros to the insolvent Signa Prime Selection AG, which belonged to the Signa Holding group. Attestor remains a private investment company headquartered in London, continuing to pursue concentrated, long-horizon investments in distressed and turnaround situations across sectors and regions.

• 2024

  Attestor grants a 100 million euro loan to the insolvent Signa Prime Selection AG.

• 2022

  Attestor's assets under management are reported at approximately six billion euros.

• 2021

  Attestor acquires 51 percent of the German airline Condor through a capital increase.

• 2012

  Attestor is established in London by Jan-Christoph Peters.

Long-term oriented value investor specialising in distressed assets and turnarounds, investing its own patient capital globally without sector or geographic restrictions.

• Distressed asset investments

  Acquisition of loans or bonds of troubled companies and projects for restructuring.

• Turnaround equity investments

  Equity stakes in businesses with turnaround potential, often taking controlling positions.

• Long-term principal investing

  Investing the firm's own patient capital globally without sector or geographic limits.

1. 1Attestor — We are a value investment firm.attestor.com
2. 2Attestorde.wikipedia.org
3. 3Wikidata: Attestorwikidata.org