Apella terminates cooperation with Netfonds over private equity concerns

The broker association Apella has ended its cooperation with Netfonds across two specific areas: the BBVS (Beratungsgesellschaft für betriebliche Versorgungssysteme) and the KVS (Kompetenzzentrum für Krankenversicherung).

Apella board member Guntram Schloß cited concerns regarding the independence of partners following the acquisition of a majority stake in Netfonds by the private equity firm Warburg Pincus. Schloß stated that private equity takeovers introduce foreign return interests and medium-term sales pressure, which contradicts Apella’s philosophy as an owner-managed association committed to the long-term interests of independent brokers.

Netfonds has not directly addressed the allegations of sales pressure but has instead highlighted the growth potential provided by the investor.