Christian Hollenberg
Founding Partner
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- Full Name
- Christian Hollenberg
- Title
- Founding Partner
- Firm
- Perusa GmbH (Perusa Partners)
- Firm Type
- Private Equity (mid-market buyout / special situations) — *note: the source stub labeled this "Angel Investors," which does not match the firm; Perusa is a private-equity house, not an angel investor*
- Investment Stage
- Buyout, corporate carve-outs, secondaries and succession situations (control acquisitions of established mid-sized companies) — *note: the stub's "Seed Round" is inconsistent with Perusa's actual mandate*
- Check Size
- Deploys from Perusa Partners II L.P. (~EUR 207 million of equity capital); equity per deal drawn from that fund
- Target Company Profile
- Mid-sized companies and corporate carve-outs in change or special situations — succession issues, carve-outs from larger groups, or secondaries of growing companies with a strong market position and value-creation potential
- Sector Focus
- Sector-agnostic industrials/manufacturing bias (e.g., building technology, LED lighting, safety/occupant-protection systems, precision components, IT security)
- Geographic Focus
- German-speaking (DACH) countries, the Netherlands/Benelux, and the Nordics
- Location
- Munich, Germany
Background
Christian Hollenberg is a founding partner of Perusa, the Munich-based private equity firm he helped establish in 2007. He brings nearly 30 years of experience as an investor and entrepreneur focused on medium-sized companies, with particular depth in operational, turnaround and restructuring management alongside financial investing.
Before founding Perusa, Hollenberg was one of the co-founders of Orlando Management, another mid-cap-focused private equity firm in Germany. Earlier in his career he worked in investment banking at J.P. Morgan, giving him a transactional and capital-markets grounding that complements his hands-on operational work with portfolio companies.
Academically, Hollenberg holds a law degree and earned an MBA from Harvard Business School. Today he anchors Perusa's investment approach, which spans a Guernsey-based fund manager (Perusa Management Limited), the Munich advisory office (Perusa GmbH), and a Stockholm office (Perusa AB) covering the Nordic market. Perusa's funds are backed by institutional investors — including insurers, banks and pension funds from the Nordics, the US, the Netherlands and Australia — and are structured with an unusually long ~14-year investment horizon that supports patient, development-oriented ownership.
Investment Thesis & Focus
- Acquires controlling stakes in mid-sized companies in "change situations" — succession, corporate carve-outs, and secondaries of businesses with strong market positions and untapped value-creation potential
- "More than just money": pairs capital with operational support, digitalization, quantitative decision-making tools, and Buy & Build add-on acquisitions
- Geographic mandate concentrated in DACH, the Netherlands/Benelux, and the Nordics
- Backs businesses via Perusa Partners II L.P. (~EUR 207m equity), taking a long ~14-year horizon that favors sustainable, development-oriented ownership over quick flips
- Partners closely with existing management teams, treating strong leadership as a prerequisite for investment
Notable Investments
- MÜPRO Group — Provider of fastening equipment and building-technology solutions (fixing, sound insulation, fire protection) for HVAC; acquired via Perusa Partners Fund II in 2018 (as part of Secura Industriebeteiligungen), exited to IK Partners in May 2022
- SCHROTH (Schroth Safety Products) — Global developer/manufacturer of occupant-protection and restraint systems for aerospace, defense, motorsports and medical transport; exited to Loar Group in July 2022
- Uni-Bright — Service-intensive LED lighting solutions provider for the Belgian, Dutch and Luxembourg markets, with control systems and IoT networking
- Proled / MBN-PROLED — Specialist in the development, production and distribution of LED lighting under the PROLED and MBNLED brands
- Xindao — Leading player in high-end functional promotional products
- Coresec / AddPro — Nordic provider of IT network security and managed security services (MSSP)
- SEM — Global manufacturer of high-precision electromagnetic components in small and medium series
- TF Daytrading GmbH — Majority stake acquired in 2026 (most recent disclosed investment)
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