at headway, we are
MORE THAN JUST CAPITAL
EXPERIENCEFLEXIBILITYTRANSPARENCY
We partner with both independent sponsors and established private equity managers and provide value added equity capital for their investments on a deal-by-deal basis
EFFECTIVE CAPITAL SOLUTIONS FOR
INDEPENDENT SPONSORS AND PRIVATE EQUITY GPS
Headway invests with private equity managers on a deal-by-deal basis with a focus on lower middle market buyout and independent sponsors
Value-Added SupportFocused on Independent Sponsors
Headway offers value-add beyond capital by providing meaningful support to independent sponsors across the investment lifecycle
EXPERTISECOMMUNICATIONINTEGRITY
We are a diverse, multi-cultural team of investment professionals with strong private equity experience, extensive networks, and complementary skill sets
Headway was founded in 2004 as an independent sponsor, and raised its first fund in 2005.
EQUITY CAPITAL FOR INDEPENDENT SPONSORS
Headway focuses on Independent Sponsor transactions in the lower middle market across Western Europe and North America. Headway seeks to invest in opportunities that align with its three core investment criteria:
01
High-quality assets
02
Experienced Independent Sponsors
03
Attractive valuations
As the leading institutional investor focused on Independent Sponsor transactions, Headway is recognized for its deep expertise and long-standing commitment to the Independent Sponsor model.
Definition
in·de·pen·dent spon·sor
ˌɪndɪˈpendənt ˈspɒnsər/ n.
A team of private equity professionals that identifies, negotiates, and structures private equity investment opportunities without having a pre-existing, committed pool of investment capital (a “blind pool” fund), and then secures financing for each specific transaction on a deal-by-deal basis. Also sometimes referred to as a “fundless sponsor”
Key Figures
Headway is currently investing its fifth fund, HIP V, which closed above target at €627 million in 2024
Founded in 2004, Headway is led by its three Managing Partners, Laura Shen, Sebastian Junoy, and Christiaan de Lint, who have worked together for over 24 years
Drawing on a global network cultivated over more than 20 years, Headway partners with experienced Independent Sponsors and private equity managers with proven track records, operational and sector expertise, and strong alignment of interests. Independent Sponsor transactions are at the core of Headway’s strategy – not an ancillary activity – and Headway is committed to forging long-term partnerships with its Independent Sponsors
Headway focuses on investing with experienced Independent Sponsors and private equity managers on a deal-by-deal basis in lower middle market companies with EBITDA of at least €5 million and enterprise values of between €50-300 million. Headway believes the lower middle market offers a compelling investment case, particularly for Independent Sponsors, driven by several structural and performance advantages that distinguish it from investments in larger companies, including: market inefficiencies, large and fragmented opportunity set, lower entry valuations, lower leverage levels, strong value creation opportunities, and multiple exit options
Headway comprises a multi-national team of 23 professionals, including 14 dedicated investment professionals with significant experience in lower middle market private equity
Headway believes it is the leading institutional investor in Independent Sponsor transactions. Over its 20+ year history, it has completed over 140 transactions in partnership with over 100 Independent Sponsors and private equity managers
Differentiated Strategy
Headway aims to deliver attractive risk-adjusted return to its investors by providing differentiated access to the lower middle market, principally through the provision of value-added equity to Independent Sponsors. Headway’s dedicated focus, experienced team, and strong reputation make it a partner of choice for Independent Sponsors.
In additional to its core focus, Headway also invests opportunistically with funded private equity managers through single asset GP-led transactions (e.g. continuation vehicles) and traditional co-investments. Headway aims to build a diversified portfolio of 30-35 investments per fund that span different managers, sectors and geographies.
