In a somewhat complicated three-way deal between CapMan, Access Capital Partners, and Pohjola, CapMan has sold the Finnish bank a 30% stake in Access Capital for EUR 28 million. Access Capital will take over management of Pohjola’s private equity investment business in exchange for a 10% holding which will be transferred to Pohjola. When all is said and done, Access Capital will be majority owned by its management (55%), with CapMan (5%) and Pohjola (45%) retaining minority shares. Regulators in Guernsey and France must still give approval for the deal.
Access Capital Partners (www.access-capital-partners.com)
As a fund of funds managing total assets of approximately EUR 2.9 billion, Access Capital Partners is one of Europe’s leading independent sources of equity financing. Since 1999 Access has built a solid reputation for disciplined investing through successful buyouts, secondary transactions, and special situations like restructuring companies in distress.
Access employs more than 30 individuals at offices in Brussels, London, Munich, and Paris.
CapMan (www.capman.com)
CapMan is an alternative asset manager established in 1989. The firm has six separate divisions, each with its own funds and management team; total combined assets for all six are near EUR 3.6 billion.
The majority of CapMan investors are pension funds, insurance companies, and funds of funds form both Finland and around the world. Banks and public institutions comprise the remainder of investors.
With a staff of 150, Capman maintains operations in Copenhagen, Helsinki, Luxembourg, Moscow, Oslo, and Stockholm.
25/11/2010
Central & Eastern Europe, Financial Services, Finland, Investment, Private Equity News