Armin Otterbach
Chief Financial Officer & Member of the Executive Board
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- Full Name
- Dr. Armin Otterbach
- Title
- CFO
- Firm
- YIELCO Investments AG
- Firm Type
- Independent private markets investment specialist / private markets asset manager
- Investment Stage
- Private markets fund investments and co-investments; YIELCO private equity covers venture capital, growth capital, buyout and turnaround, with particular emphasis on buyout/value investing
- Target Company Profile
- Through YIELCO’s private equity programs, small- and mid-market companies reached via managers pursuing value investing, operational value creation, low entry valuations and conservative financing structures
- Sector Focus
- Private equity, private debt and infrastructure
- Geographic Focus
- Europe and North America, with investor base in Germany, Austria, Switzerland, Spain and Italy
- Location
- Munich, Germany
Background
Dr. Armin Otterbach is CFO of YIELCO Investments AG and is listed by YIELCO as a member of the firm’s management board/executive leadership. YIELCO’s legal notice names him among the persons representing YIELCO Investments AG and among those with editorial responsibility for the firm’s website.
YIELCO was founded in 2011 and has built an institutional private markets platform across private equity, private debt and infrastructure. The firm reports more than EUR 12 billion in assets under service/capital commitments from more than 100 institutional investors, with offices in Germany, Switzerland, Spain and Luxembourg. Its client base includes insurance companies, pension funds, financial service providers, family offices and foundations.
Public sources reviewed did not provide a verified education history or pre-YIELCO career history for Dr. Otterbach. His public firm profile is therefore centered on his current CFO/management-board role at YIELCO.
Investment Thesis & Focus
- YIELCO is not presented publicly as a seed-stage angel investor. It is an institutional private markets specialist focused on private equity, private debt and infrastructure strategies for professional and semi-professional investors.
- YIELCO states that it pursues “differentiated investment strategies” across private equity, infrastructure and private debt, with diversification across time, number, region, manager, sector, segment and strategy.
- In private equity, YIELCO focuses on opportunities across venture capital, growth capital, buyout and turnaround, but particularly emphasizes buyouts and value investing.
- The private equity focus is on small- and mid-market managers and transactions involving operational value creation, low entry valuations, conservative debt levels and complexity such as carve-outs, succession situations, broken auctions and neglected/orphaned private equity portfolio companies.
- YIELCO’s products include funds of funds, co-investment funds, customized mandates and advisory solutions. Its fund-of-funds programs typically target around 12-15 funds, while co-investment programs typically target around 12-15 direct company investments or commitments.
- ESG is described by YIELCO as an integral part of its review and monitoring process, supported by a dedicated scoring model and client-specific criteria where relevant.
Notable Investments
- YIELCO Private Equity USA III: U.S. private equity fund-of-funds program; final close announced in 2025, with USD 325 million in volume and focus on value investing in complex U.S. buyout transactions.
- YIELCO Defensive Investments II: Dedicated private equity co-investment fund; reached a EUR 250 million hard cap in June 2025 and targets 15-18 value-oriented small- and mid-market transactions in Europe and North America.
- YIELCO Private Equity Europe III: Pre-marketing announced in 2025 as YIELCO’s eighth private equity investment program, focused on primary and secondary value investments in the European small- and mid-market.
- YIELCO Specialty Lending II: Private debt fund-of-funds program; first closing announced in July 2025, focused on senior secured asset-based loans through specialized managers in Europe and North America.
- YIELCO Metzler Infrastruktur IV: Infrastructure fund-of-funds program with Metzler Asset Management; first closing announced in July 2025, with a EUR 300 million target capitalization and focus on diversified primary and secondary sustainable infrastructure investments in Europe and North America.
- YIELCO Infrastructure Opportunities: Infrastructure co-investment fund; first closing announced in November 2024, focused on global infrastructure co-investments with core+ and value-add opportunities in the small and mid-market.
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