Baltisse

What Baltisse does

Baltisse is a privately held, evergreen investment company founded in 2007 by entrepreneur Filip Balcaen and headquartered in Ghent, Belgium. It operates three integrated divisions: Baltisse Private Equity, which acquires equity stakes of €25m–€250m in mid-market companies with €5m–€50m of EBITDA across industrial, health and self-care, B2B, and energy services in Belgium, the Netherlands, and the United States; Baltisse Real Estate, which acquires, develops, and manages more than 800,000 m² of offices, logistics, retail, senior housing, and mixed-use properties across Belgium, Luxembourg, Germany, Netherlands, Romania, Poland, and the United States, with recent expansion into Italy; and Baltisse Capital Markets, which builds diversified portfolios of growth-driven publicly traded equities in Europe and the United States.

Baltisse deploys its own capital without external limited partners, enabling fast decision-making and a long-term holding horizon. Its competitive positioning rests on an entrepreneurial, founder-led operating culture, senior talent sourced from top-tier PE houses, strategy consultancies, and global real estate firms (TDR Capital, Bain & Company, BCG, Petercam, CBRE, Tishman Speyer), and an inherited industrial heritage from the Balta and IVC businesses. Real estate strategy increasingly pairs Baltisse's capital and development expertise with specialist operators such as Limehome (Brussels aparthotel conversion, 2026) and Colliers Global Investors Italy (Milan hotel conversion, 2026).

Revenue is generated through capital appreciation and operational improvement on PE exits, rental income and capital gains on the real estate portfolio, and returns on the Capital Markets equity book. The company does not publicly disclose financial results; investment terms are negotiated deal-by-deal. Past realizations include the sale of IVC to Mohawk Industries (2015), Fagron (2019), Balta, Origis Energy, the Seven office building (to HSBC, 2019), and the Rosenstiel building (to GLL, 2018).

Name

Baltisse

Legal name

Baltisse NV

Website

https://baltisse.com

Company type

Private

Founded year

2007

Operating status

Operating

Headcount range

11–50 employees

Short description

Baltisse is a privately held, evergreen investment firm founded in 2007 by Filip Balcaen and based in Ghent, Belgium. It operates three divisions — Private Equity, Real Estate, and Capital Markets — investing its own capital across Europe and the United States in mid-market companies, 800,000+ m² of property, and listed equities.

Ownership category

akta.pro rank

Product category

Private Equity and Real Estate Investment Management

NAICS

All Other Financial Investment Activities (52399), Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523), Other Financial Vehicles (525990)

SIC

Investors, Nec (6799), Real Estate Dealers (For Their Own Account) (6532), Security Brokers, Dealers & Flotation Companies (6211)

akta.pro primary industry

Capital Raising Advisory (Debt/Equity/Private Capital) (BPAHADAG)

akta.pro secondary industries

Equity Capital Advisory (Private Equity Placements, Growth Capital) (BPAHAOAE), Real Estate Capital Markets Advisory (Debt/Equity Placement, Refinancing) (BPAJANAE), Global Equity (Active) (FSAAAIAD)

Keywords

• Private equity
• Real estate investment
• Capital markets
• Growth capital
• Evergreen investment

Headquarters

HQ city

Sint-denijs-westrem

HQ country

Belgium

HQ region

Europe

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Supply Chain, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Private Equity: Baltisse generates returns through equity investments in mid-sized companies with EBITDA of €5m to €50m. Investment size ranges from €25m to €250m per opportunity. Returns are realized through capital appreciation, operational improvement, and eventual exit via trade sale or recapitalization.
2. Real Estate Development and Investment: Baltisse Real Estate acquires, develops, and manages properties across Belgium, Luxembourg, Germany, Netherlands, Romania, Poland, and USA. The portfolio covers over 800,000 m² across offices, logistics, retail, senior housing, and mixed-use properties. Revenue is generated through rental income, property appreciation, and capital gains on realized sales.
3. Capital Markets: Baltisse invests in publicly traded equities with a focus on European and US listed companies. The strategy targets growth-driven investments in the 'real' economy, combining industrial entrepreneurship skills with experienced asset management to generate returns from equity portfolio.

Go-to-market motion2 records

Distribution channels1 record

Marketing channels2 records

Core offering

Baltisse is a private, evergreen investment company that deploys its own capital across three divisions: Private Equity (€25m–€250m tickets into mid-sized companies with €5m–€50m EBITDA), Real Estate (acquisition, development and asset management of 800,000+ m² of property across seven countries), and Capital Markets (long-term investments in European and US listed equities). The firm partners directly with entrepreneurs and management teams on growth capital, management buy-in/out and shareholder replacement opportunities, providing capital plus hands-on operational support.

Product overview

Baltisse is a top-tier investment company offering three integrated investment divisions: Private Equity (seeking growth capital, management buy-in/out opportunities with €25m to €250m equity investment per opportunity), Real Estate (covering +800,000 m² across 7 countries in offices, logistics, retail, and mixed-use developments), and Capital Markets (investing in growth-driven equities of publicly traded companies). Founded in 2007 and based in Ghent, Belgium, Baltisse focuses on value creation through entrepreneurship across Belgium, the Netherlands, and the United States.

Differentiator

Problem solved

Functional benefit

Products and services

• Baltisse Private Equity Evergreen private equity division investing €25m–€250m equity tickets into mid-sized companies with €5m–€50m EBITDA across industrial and consumer, health and self-care, B2B and energy services sectors in Belgium, the Netherlands and the United States. Targets are ambitious entrepreneurs and management teams seeking growth capital, management buy-in/out or shareholder replacement.
• Baltisse Real Estate Real estate investment, development and asset management division operating 800,000+ m² of offices, logistics, retail, senior housing and mixed-use properties across Belgium, Luxembourg, Germany, Netherlands, Romania, Poland and the United States. Partners with institutional co-investors and hospitality operators on property acquisitions, conversions and development projects.
• Baltisse Capital Markets Capital markets division building diversified portfolios of growth-driven equity investments in publicly listed European and US companies with leadership positions, experienced management teams and clear revenue growth outlook. Combines industrial entrepreneurship skills with experienced asset management to generate returns from listed equities.

Quantifiable outcome

• Baltisse has completed successful exits including sale of IVC to Mohawk Industries (2015), Fagron stake sale (2019), Seven office building to HSBC (2019), and Rosenstiel building to US group GLL (2018).

Named customers1 record

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Two partnerships are on record, tiered core.

• Colliers Global Investors ItalycoreStrategic or Co-development Partner · 6 March 2026Baltisse is mentioned alongside Colliers Global Investors Italy as co-investors in new hotel conversion projects in Brussels and Milan. The Limehome announcement highlights Baltisse's Brussels partnership and Colliers' Milan deal for 30 units on Via Villoresi, both representing strategic hotel conversion initiatives in European cities.
• LimehomecoreStrategic or Co-development Partner · 3 March 2026Baltisse Real Estate partnered with Limehome, a tech-enabled hospitality operator, for the redevelopment of an existing hotel in Brussels' European Quarter into 114 serviced apartments. This marks Limehome's entry into the Benelux market and represents Baltisse's first collaboration with Limehome. The property is planned to launch as Limehome Brussels in early 2027, catering to business travelers, diplomats, and long-term guests.

Scale indicators6 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Gimv: Belgian-listed investment company with similar mid-market PE focus across Belgium, France, Netherlands, and DACH, plus growth-stage investments. Highly comparable given Belgian origin, evergreen-style holding structure, and overlapping sector exposures (healthcare, B2B services, consumer).
• Sofina: Belgian-listed investment holding focused on growth equity and private equity across Europe, Asia, and the US. Comparable given evergreen holding model, mid-to-large ticket size, family-controlled governance, and cross-border PE/venture approach.
• Ackermans & van Haaren: Belgian diversified holding with significant real estate (Extensa, Leasinvest) and PE-style investment activities. Comparable given Belgian origin, family-influenced control structure, and combination of operating businesses with investment portfolio.
• Immobel: Belgian-listed real estate developer with pan-European footprint spanning offices, residential, and mixed-use. Direct comparable for Baltisse Real Estate's office, residential conversion, and mixed-use development activities.
• IK Partners: European mid-market PE firm with Benelux and DACH focus, investing in companies of similar EBITDA scale (€5m–€50m range). Comparable given ticket size, sector overlap (healthcare, B2B services, industrials), and European mid-market positioning.
• Codic: Belgian real estate developer focused on offices and mixed-use projects, where Baltisse Real Estate's Guy Degryse previously served as director. Direct comparable for office/mixed-use development pipeline in Belgium.
• Atenor: Belgian-listed real estate developer focused on office, residential, and mixed-use projects across Benelux and select European markets. Comparable given Belgian origin, mixed-use development focus, and Guy Degryse's prior tenure as director.

Broad incumbents

• Wendel: French-listed European investment firm with long-hold, family-influenced governance and diversified industrial/services PE portfolio. Comparable given evergreen holding philosophy, European mid-to-large cap focus, and long-duration capital approach.
• TDR Capital: Large UK-based PE firm where Baltisse's Heider Ridha previously worked. Comparable given mid-to-large European PE focus and operational value-creation approach, though at materially larger scale.
• Investor AB: Swedish-listed holding company with diversified PE and operating business interests across Northern Europe and globally. Comparable evergreen-style holding model with multi-decade compounding philosophy.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/baltisse

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments2 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Baltisse