Norbert has been working in private equity since 1987, the time when this business started in Germany. He is a well respected and successful member of the German private equity community. He is Co-founder and Managing Partner of Moravia Capital Investments.


Structuring and managing private equity funds in Germany and attracting capable private equity teams as well as raising capital for his own funds and for his client's funds has been an integral part of his career, combined with substantial experience in negotiating, structuring and closing mid-cap deals, including spin-offs, MBOs and MBIs, IPOs and public take-overs, mergers as well as restructuring.


Norbert has been on the supervisory board of several companies, co-founded and managed Odewald Hammermann & Stelzer (now Odewald & Compagnie), at the time the largest independent private equity fund in Germany. As Director of Deutsche Handelsbank, an investment bank, he was responsible for Private Equity and Corporate Finance. Before, he has been working as Investment Manager at the Matuschka Group, Germany’s first company investing into MBO-, Venture Capital- and Fund-of-Funds.


Before 1987 Norbert has worked at Ernst & Young in Boston and Munich, where his assignments included audits, company valuations and advisory work involving acquisitions and divestitures of German mid-cap companies. While at Ernst & Young, he also qualified as a Certified Public Accountant (USA) and as Wirtschaftsprüfer and Steuerberater (German chartered accountant and tax advisor). Norbert Stelzer holds a Diplom-Kaufmann degree from Ludwig-Maximilians-University in Munich and a MBA from Kansas State University (USA). He lives in Munich, is married and has two children and enjoys skiing, sailing, mountainbiking and also pursues more classical interests such as theatre, art and reading.




Moravia Investments Germany

Maximilianstrasse 54

80538 Munich, Germany

T. +49 89 2000 190 0



Moravia Capital GP, S.à r.l.

3, rue Gabriel Lippmann

L - 5365 Munsbach

T. +352 402 50 51


Moravia Investments India


T. +91 96605 22539


Moravia Investments South Africa

24 Crescent Drive, Melrose Arch,

Melrose North, 2196

T. +27 (83) 923 52 59