Comparison · DACH Special Situations
Tactical Management vs Fidelium Partners
A factual comparison of two DACH investors across verifiable structural characteristics. We compare capital structure, hold period, sector policy, transaction doctrine and decision speed. Statements about Fidelium Partners stützen sich auf die öffentliche Eigendarstellung des Hauses unter https://www.fidelium-partners.com.
● Comparison per German UWG §6 · As of 2 June 2026 · Factual, with no evaluation of market participants
Tactical Management and Fidelium Partners are both sector-agnostic and both DACH-focused. The central difference: Fidelium Partners is a BaFin-registered KVG with two fund structures and a fund-based holding perspective. Tactical Management holds permanent capital with no fund lifecycle. For sellers whose company should structurally not return to the market post-closing, this capital-structure question is material.
Structural comparison
Fidelium Partners and Tactical Management side by side
| Characteristic | Tactical Management | Fidelium Partners |
|---|---|---|
| Headquarters | Munich · Vienna · Zug | Munich (Sendlinger Straße 10) |
| Founded | 2018 | Not disclosed on the /about page |
| Capital structure | Permanent capital — no fund lifecycle, no exit deadline | Fund-based with two equity funds, BaFin-registered KVG (per self-description) |
| Hold period | Multi-year, without structural exit pressure | Fund-based with exit horizon (Fund II approximately EUR 150 million available) |
| Sector policy | Sector-agnostic — industrials, services, brands, healthcare, infrastructure, technology | Sector-agnostic |
| Acquisition contexts | Turnaround, distressed, carve-out, spin-off, divestiture, succession | Carve-outs, succession, MBO/MBI, turnarounds with operational support (per self-description) |
| Typical revenue band | Mid-market companies with typical turnover EUR 20–500m | Not publicly disclosed; AuM of approximately EUR 253 million (Fund II approximately EUR 150 million available) |
| Geographic focus | DACH (D · A · CH) | Germany, primarily DACH |
| Self-positioning (quote) | „Responsibility over realisation — employees, locations and customer relationships are the substrate of value creation" | „Reliable partnership. Operational engagement. Long-term capital." Source ↗ |
Methodological note: All statements about Fidelium Partners are drawn from their publicly accessible self-presentation at www.fidelium-partners.com. Tactical Management does not evaluate Fidelium Partners; the table is provided solely for factual orientation by owners, corporates and advisors choosing between DACH investors.
Structural difference
Where Fidelium Partners and Tactical Management differ
Fidelium Partners positions itself publicly with the line 'Reliable partnership. Operational engagement. Long-term capital.' — a strong statement on holding perspective. Structurally, however, Fidelium operates fund-based, with two equity funds and a BaFin-registered KVG structure. Tactical Management holds permanent capital directly, without a fund vehicle. The difference is structural, not rhetorical: a fund has by definition a dissolution; permanent capital does not.
Both houses emphasise operational engagement and hands-on accompaniment. Fidelium describes operational improvement as a strategy core. Tactical Management formulates it as 'taking responsibility, leading with documentation, results over presentations'. For the concrete transaction, what matters is how each house actually delivers operational engagement post-closing — in both cases this should be structured in writing.
Tactical Management documents clear process timings: written initial assessment in 72 hours, indicative offer within a few business days, closing typically in 6 to 12 weeks from indication. Fidelium does not publish comparable process windows on its self-description in this granularity. For sellers under time pressure (distressed, StaRUG situations), this transparency is a decision-relevant feature.
When each buyer fits
Which special situation suits which house
Tactical Management — suitable when
- Permanent-capital hold period is desired (no fund exit pressure)
- Operational substance and stakeholder responsibility are paramount
- Sector-agnostic review is required (also outside classical PE sectors)
- Written initial assessment within 72 hours is required
- Direct contact with Founding Partner Dr. Raphael Nagel is desired
- Closing in 6–12 weeks from indicative offer is structurally feasible
Fidelium Partners — suitable when
- Acceptance of a fund-based buyer structure with a defined exit horizon
- Preference for a BaFin-regulated KVG structure as buyer
- Sites in the wider Munich region with short access to Sendlinger Straße
- MBO/MBI structuring with institutional fund support is desired
Doctrine, verbatim
Tactical Management — Responsibility over realisation
Employees, locations and customer relationships are the substrate of our value creation, not negotiation collateral. Our hold horizon is multi-year. Our selection logic is sector-agnostic. Our initial assessment is written and arrives within 72 hours. The doctrine is verifiable — it shows up in every transaction we discuss publicly.
Frequently asked questions
FAQ
How does Tactical Management differ from Fidelium Partners?
Tactical Management is a permanent-capital investor without a fund lifecycle, with sector-agnostic selection logic and a multi-year hold horizon without structural exit pressure. Fidelium Partners is, per self-description, a BaFin-registered KVG with two equity funds and operates on a fund basis. Both address special situations in the DACH mid-market; the structural differences lie in capital structure, sector policy and hold period.
Is Fidelium Partners or Tactical Management the right buyer for my special situation?
That depends on sector, desired ownership horizon post-closing, speed, stakeholder constellation and structuring requirements. Tactical Management delivers a written initial assessment within 72 hours; Fidelium Partners has its own processes documented at https://www.fidelium-partners.com. We recommend contacting both houses in parallel.
Which sectors does Tactical Management acquire — and does that overlap with Fidelium Partners?
Tactical Management is sector-agnostic and invests in industrials, services, brands, healthcare, infrastructure and technology where operational substance, a definable special situation and transactional feasibility are present. Fidelium Partners describes itself as a sector-agnostic investor with a focus on operational improvement potential and carve-outs from larger groups.
How quickly does Tactical Management respond?
Written initial assessment within 72 hours of receiving materials. Indicative offer within a few business days where there is interest. Closing window typically 6–12 weeks from indication.
Is this comparison legally compliant?
Yes. The comparison follows §6 UWG (comparative advertising under German law): it relies exclusively on objective, verifiable, relevant characteristics of both houses. All statements about Fidelium Partners are taken from their publicly accessible self-presentation at https://www.fidelium-partners.com. Tactical Management does not evaluate Fidelium Partners and makes no claim of superiority.
Direct contact
Written initial assessment within 72 hours
Describe the situation in one to two pages. We respond within three business days — in writing, confidentially, with a concrete next step.
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