The fund is new.
The people are not.
Antaia Capital SCSp has no fund track record of its own. What we can show is the performance record of the individuals involved and of the Operandis group. We keep the two clearly apart.
Documented figures
Only figures for which a source exists. What is missing is shown as a gap — not as an estimate.
The 30+ projects and the cumulative volume of € 260.6 M are the operative reference of Marggraf Architektur (Esslingen, Leipzig, Bratislava), the architecture and lead-planning partner of the Operandis group. They were not realised in the construction methods permitted under the fund's investment restriction. Source: prospectus v1.4, § 2.6.3.
Operandis as the operational base
The general partner of Antaia Capital SCSp, Antaia Capital Management S.à r.l., is a wholly owned subsidiary of Operandis GmbH, Schindellegi, Switzerland. Operandis is a project developer for turnkey real estate investments in the D-A-CH region.
The asset types match the fund's investment universe: residential, care, hotels, serviced apartments, micro-living and social housing. This affiliation provides the access to planning, construction management and financing structuring that the restructuring of the assets requires.
Assignments to Operandis exceeding € 500 k require prior approval by the LP Advisory Board. The conflict of interest is named and governed, not defined away.
Reference projects of the group
19 locations in Germany, 26 houses. Focus on hotels and accommodation — the same asset class that falls under residential character in the fund's investment universe.
| Location | Property | Houses |
|---|---|---|
| Hamburg | Holiday Inn · Hampton by Hilton | 2 |
| Rostock | Motel One | 1 |
| Potsdam Babelsberg | Star Inn Premium Hotel | 1 |
| Halle an der Saale | the niu Ridge | 1 |
| Leipzig | Motel One · Ibis Budget · Ibis Hotel | 3 |
| Dresden | Motel One | 1 |
| Dortmund | Hotel Westfalentor | 1 |
| Bochum | Ghotel | 1 |
| Oberhausen | Super 8 Hotel | 1 |
| Düsseldorf | Holiday Inn Express | 1 |
| Eschborn | Hyatt House Hotel | 1 |
| Frankfurt | Hilton Garden Inn Hotel | 1 |
| Saarbrücken | Star Inn Hotel | 1 |
| Bayreuth | Ibis Styles · Ibis Budget | 2 |
| Heidelberg | Meininger Hostel | 1 |
| Stuttgart | Star Inn Hotel · Acom Hotel | 2 |
| Freiburg | Adagio Access Hotel | 1 |
| Singen | Ibis Styles · Ibis Budget | 2 |
| Konstanz | Ibis Budget · Ibis Styles | 2 |
Sponsor history is not fund history
What the sponsor history shows
That the individuals involved have planned, structured and completed construction projects in the German-speaking region. That knowledge of planning, costing and delivery exists within the group and does not have to be bought in for underwriting.
What it does not show
No fund return. No distribution history. No re-investment rate from limited partners. No experience in managing a regulated Luxembourg AIF. The fund is in fundraising; reliable fund metrics will only exist after the first exits.