Mumbai, 15 Jan 2025 – Shriram Housing Finance, one of India’s leading affordable housing finance companies, announced the launch of its new brand identity – Truhome Finance (the “Company”).

The rebranding follows its acquisition by Warburg Pincus and its co-investors, including QIA, Qatar’s sovereign wealth fund. As part of the agreement, Shriram Finance Group received an investment of ₹1,225 crore, helping the Company augment its net worth to over ₹3,300 crore and marking a significant milestone in the Company’s growth journey.

Truhome Finance, the new brand identity reflects the Company’s commitment to providing the best service to its customers while fostering the aspirations and dreams of homeownership for many. The rebranding also underscores the Company’s steadfast focus on enabling affordable housing finance to the underserved population of the country. The new brand aligns with the Company’s vision of empowering individuals to achieve their homeownership dreams and ensuring financial accessibility where every individual, regardless of their socio-economic background, has access to a transparent, trustworthy, and supportive partner on their journey to owning a home. Truhome Finance also aims to create lasting value for all stakeholders.

“We are thrilled to unveil our new brand, Truhome Finance, which reflects our strategic vision and forward-thinking approach,” said Ravi Subramanian, CEO, Truhome Finance. “While our name has changed, our core mission remains the same — to make affordable home loans accessible to every individual together with our commitment to quality and customer satisfaction. This rebranding marks a new chapter in our journey and positions us for greater growth and success,” he added.

Mr. Subramanian reiterated, “Our customers will continue to enjoy the same great products and services they know and trust. The Company’s leadership team and contact information will remain unchanged, ensuring seamless continuity in all business operations. Our new brand identity represents not just a name change, but also an evolution of who we are and what we stand for. We are excited to continue serving our customers and partners under the banner of Truhome Finance, as we set our sights on the future. As an organization, we have always strived for TRUENESS in everything we do: to be TRUE to our customers, stakeholders, regulators, employees, and above all be TRUE to our conscience. The core fabric of our organization is now reflected in our brand name Truhome Finance.”

“We are thrilled to embark on this new journey with Truhome Finance, a trusted brand and leader in the affordable housing finance sector. This acquisition aligns seamlessly with our mission to drive financial inclusion and support the aspirations of underserved communities. Together, we aim to scale up operations, enhance offerings, and make homeownership a reality for countless families across India.” said Narendra Ostawal, Managing Director & Head of India Private Equity, Warburg Pincus.

About Truhome Finance Limited (Formerly Shriram Housing Finance)

Truhome Finance Limited, is a leading housing finance company in India, registered with the National Housing Bank (NHB). The Company commenced operations in December 2011. Truhome Finance Limited is amongst the fastest growing and most profitable affordable housing finance companies with a network of over 165 branches and Assets Under Management (AUM) of over INR 16000 Cr as of December 2024. The company is rated AA/Stable by CRISIL, India Ratings, and CARE. Truhome Financewas acquired by Warburg Pincus, a pioneer of private equity growth investing, from the Shriram Finance Group in December 2024.

About Warburg Pincus

Warburg Pincus LLC is the pioneer of private equity global growth investing. A private partnership since 1966, the firm has the flexibility and experience to focus on helping investors and management teams achieve enduring success across market cycles. Today, the firm has more than $86 billion in assets under management, and more than 230 companies in their active portfolio, diversified across stages, sectors, and geographies. Warburg Pincus has invested in more than 1,000 companies across its private equity, real estate, and capital solutions strategies.

The firm is headquartered in New York with offices in Amsterdam, Beijing, Berlin, Hong Kong, Houston, London, Luxembourg, Mumbai, Mauritius, San Francisco, São Paulo, Shanghai, and Singapore. For more information, please visit www.warburgpincus.com or follow us on LinkedIn.

For media inquiries or further information, please contact:

Amit Bhatia

Mobile: +91 8971900311
E-mail: amit.bhatia@shriramhousing.in

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New York, NY – January 7, 2025 – Citrin Cooperman Advisors LLC (the “Firm”), a premier tax, advisory and accounting provider for private middle market businesses and high net worth individuals, today announced a definitive agreement for a significant investment from private equity funds managed by Blackstone (“Blackstone”). As part of the transaction, Blackstone is acquiring its stake in the Firm from New Mountain Capital LLC (“New Mountain”).

Citrin Cooperman was founded in 1979 with a mission to enhance the businesses and personal lives of its clients, partners, and staff through its services, guidance and enthusiasm for building long-standing relationships. Today, the firm is a trusted advisor to more than 15,000 clients globally through its tax, advisory and accounting services.

Alan Badey, CEO of Citrin Cooperman, said: “We are excited to have reached an agreement for Blackstone to invest in Citrin Cooperman as we enter our next chapter of growth. Blackstone will help us make additional investments in expanded service offerings and technology as we deliver on our continued commitment to best-in-class firm culture and providing an exceptional client experience. We thank New Mountain for their years of partnership in helping to build and support our business.”

Eli Nagler, a Senior Managing Director at Blackstone, and Kelly Wannop, a Managing Director at Blackstone, said: “The Citrin Cooperman partners and staff have done an exceptional job making the firm a leader through an unwavering commitment to excellence and client service. We are excited to invest in the business to help it continue to provide the highest quality offerings moving forward.”

Andre Moura and Nikhil Devulapalli, Managing Directors at New Mountain, said: “We are proud of our successful partnership with Citrin Cooperman, and we thank the management team, partners and staff of Citrin Cooperman for all we have accomplished together over the last three years.  We look forward to seeing Citrin Cooperman continue to thrive for the benefit of all its clients and stakeholders.”

Terms of the transaction were not disclosed. Deutsche Bank Securities Inc. is serving as financial adviser, and Kirkland & Ellis LLP and Gibson, Dunn & Crutcher LLP are serving as legal advisers to Blackstone. Guggenheim Securities, LLC is serving as lead financial advisor to New Mountain and Citrin Cooperman, with Koltin Consulting Group serving as an additional financial adviser to both parties. Simpson Thacher & Bartlett LLP, Zukerman Gore Brandeis & Crossman, LLP, and Hunton Andrews Kurth LLP are serving as legal advisers to New Mountain and Citrin Cooperman.

About Citrin Cooperman
Citrin Cooperman, recently named #18 on the “Top 100 Firms” list by Accounting Today, is one of the nation’s largest professional services firms. Built on the values of close relationships, integrity, and a genuine passion for client service, Citrin Cooperman combines deep industry expertise, diversified service portfolio and national reach with a down-to-earth people-first approach in servicing clients. “Citrin Cooperman” is the brand under which Citrin Cooperman & Company, LLP, and Citrin Cooperman Advisors LLC serve clients’ business needs in an alternative practice structure in accordance with the AICPA’s Code of Professional Conduct and applicable law, regulations, and professional standards. Citrin Cooperman & Company, LLP, a licensed independent CPA firm, provides attest services and Citrin Cooperman Advisors LLC provides business advisory and nonattest services. The entities include more than 450 partners and 2,800 total professionals. Learn more about Citrin Cooperman at www.citrincooperman.com.

About Blackstone
Blackstone is the world’s largest alternative asset manager. We seek to deliver compelling returns for institutional and individual investors by strengthening the companies in which we invest. Our more than $1.1 trillion in assets under management include global investment strategies focused on real estate, private equity, infrastructure, life sciences, growth equity, credit, real assets, secondaries and hedge funds. Further information is available at www.blackstone.com. Follow @blackstone on LinkedIn, X (Twitter), and Instagram.

About New Mountain Capital
New Mountain Capital is a New York-based investment firm that emphasizes business building and growth, rather than debt, as it pursues long-term capital appreciation. The firm currently manages private equity, credit and net lease investment strategies with approximately $55 billion in assets under management. New Mountain Capital seeks out what it believes to be the highest quality growth leaders in carefully selected industry sectors and then works intensively with management to build the value of these companies. For more information on New Mountain Capital, please visit www.newmountaincapital.com.

Contacts

Citrin Cooperman
Dan Ginsburg
dginsburg@citrincooperman.com
332-278-3553

Blackstone
Matt Anderson
matthew.anderson@blackstone.com
518-248-7310

New Mountain Capital
Dana Gorman
dana.gorman@h-advisors.global
212-371-5999

TMC, a leading global technology consultancy, is pleased to announce its continued partnership with Apheon as its lead investor and the investment of MML as a new partner. Apheon has reaffirmed its commitment to TMC by reinvesting through a new Apheon-controlled vehicle, ensuring long-term strategic alignment between all shareholders. Together, Apheon and MML will provide the capital and expertise to support TMC’s ambitious plans for strategic expansion and acquisitions.

TMC’s founder and management team will also reinvest significantly, emphasising their dedication to the company’s future. This new capital structure strengthens TMC’s ability to expand into new markets and develop cutting-edge capabilities for clients, thereby solidifying its position as the top global destination for high tech engineering and digital talent.

Founded in 2000 and headquartered in Eindhoven, the Netherlands, TMC is a mission-critical partner for international technology and R&D consulting. TMC provides unique know-how and expertise, collaborating with blue-chip clients in dynamic and fast-growing market sectors such as Technology & Engineering, Life Sciences & Pharma, Energy & Renewables, and Digital & IT. TMC has developed a unique engineer-centric “Employeneurship model”, becoming the home-of-choice for engineers, scientists and digital experts. TMC is active in 16 countries and employs some 2,750 people globally. This unique Employeneurship model empowers engineers, scientists, and digital experts to excel in challenging roles whilst fostering professional growth.

Since Apheon acquired its majority stake in TMC in 2019, the company has achieved remarkable growth, nearly tripling its revenues to an expected €275 million by the end of 2024. This success has been driven by significant organic expansion across established geographies, including the Netherlands, Belgium and France while also entering exciting new markets such as Germany, Spain, USA, UAE and Tunisia.

TMC has also executed a selective acquisition strategy under Apheon’s guidance, partnering with Mobilee (2023), Guldberg/Personites (2024), and Open Pixel Systems (2024). With the renewed backing of Apheon as lead investor and MML’s strategic expertise, TMC is poised to build on this momentum and unlock its next phase of growth through both organic initiatives and accretive M&A activity.

The transaction remains subject to regulatory approvals.

Emmanuel Mottrie, CEO at TMC, commented: “I want to firstly thank all our country CEO’s, management teams, colleagues and business partners at TMC for the remarkable journey over the past years. I am proud of the trust our clients place in us to support them on the development of their most critical R&D processes. The Employeneurship model allows TMC to attract and retain the brightest engineering talent to develop the innovations of the future. I am excited to extend the partnership with Apheon and welcome MML aboard as a new shareholder. Together, their strategic expertise and commitment will enable us to further expand our operational footprint and grow into new geographies, unlocking the next phase of TMC’s growth.”

Pieter Lambrecht, Partner at Apheon, commented: “We are thrilled to continue our partnership with TMC for a new exciting chapter as the company embarks on the next phase of its ambitious growth journey. Over the years, TMC has built a stellar reputation for innovation, excellence, and an unwavering commitment to its clients and Employeneurs. With its unique Employeneurship model, the company is setting the international standard in technology and R&D consultancy. Together with MML as valued partner, Emmanuel, Thijs, Rogier and the entire TMC team, we believe we can significantly grow TMC’s presence in existing markets, expand into new geographies, and advance the innovative capabilities to meet the demands of tomorrow.”

Richard Mayers, Managing Partner at MML, commented: “We are delighted to join forces with TMC, a company renowned for its innovative approach and exceptional talent pool. With its strong leadership, Apheon’s continued support and MML’s sector experience, TMC is well-positioned to accelerate its growth and drive significant impact across global markets.”

About TMC
TMC – The Member Company is a global high-tech consultancy firm with a team of entrepreneurial engineers, scientists, and digital experts from around the world. Together we form a fast-growing and proud community, with more than 2750 members from 71 nationalities, spread over 16 countries up to now. We offer consultancy services in diverse industries such as high-tech, semiconductors, digital and IT services, energy and renewables, and life sciences, with access to high-profile clients globally. As pioneers in Employeneurship, we have redefined the traditional work model, offering our talented professionals the opportunity to combine the security of a permanent contract with their passion for entrepreneurship. For more information, please visit themembercompany.com

About Apheon
Apheon is a pan-European mid-market private equity investment company managing ~€3 billion of assets from select global institutional investors and families. Apheon is characterized by its partnership approach, providing “patient and friendly capital” and industrial know-how to entrepreneurs and management teams, preparing their companies for the future. Through its pan-European footprint, the firm acts as a gateway into Europe for companies in the mid-market. Since its founding in 2005, Apheon has raised more than €3.8 billion in capital, invested in ~40 companies across Europe and completed ~200 add-on acquisitions for a total aggregate transaction value in excess of €7 billion. Apheon’s current portfolio consists of ~20 companies across its target sectors, representing ~€3 billion sales and ~22,000 employees. Apheon is advised by Apheon Advisors which has offices in Brussels, Milan, Madrid, Paris, Munich and Amsterdam. For more information, please visit www.apheon.com

About MML Capital Partners
MML is an international mid-market private equity firm investing in partnership with management teams to deliver their bold expansion plans. MML was founded in 1988 and currently has over ~€3 billion of assets under management. This investment is being made from its eighth partnership fund, MML Partnership Capital VIII. For more information please visit mmlcapital.com

+++

For more information, please contact:

Natalia Yek, Head of Investor Relations, Apheon
ny@apheon.com
T: +32 2 213 60 90

International private equity firm, Cinven, today announces that it has reached an agreement to make a majority investment in Grant Thornton UK (‘Grant Thornton’ or ‘the Company’), one of the leading diversified professional services firms offering audit, tax and advisory services in the UK. Grant Thornton’s UK Partner base will remain invested in the business as a significant shareholder alongside the Cinven funds.

Grant Thornton is one of the oldest professional services firms in the UK, dating back to 1904, and today is one of the UK’s largest accounting and advisory services firms. Led by over 240 partners and with more than 5,500 employees across over 20 offices in the UK, the firm serves a wide and diverse client base focused on medium and large corporates, government organisations and individuals.

The investment by the Cinven funds draws on the firm’s deep expertise in Financial and Business Services and reflects its strong conviction about Grant Thornton’s leading platform and prospects for sustained growth. The professional services and advisory market is an attractive and resilient sector, supported by increasing client demand. Grant Thornton has delivered consistent, through-cycle performance and has a significant opportunity to drive further growth in response to evolving client needs.

Cinven’s Financial Services and Business Services Sector teams have collaborated closely on the investment in Grant Thornton, identifying it as a compelling primary opportunity underpinned by a number of attractive characteristics, including:

• Leading provider of professional services to the mid-market and beyond: Grant Thornton is a key player among the UK “Big 6”, boasting a high-quality platform serving a diverse blue-chip client base and a significant public sector practice. With an impressive product mix spanning audit, tax, and a broad array of advisory services, the Company is well positioned to deliver robust growth and capture further market share.
• Highly diversified offering with significant opportunities to drive sustained growth: Grant Thornton benefits from strong competitive differentiation, with a strong brand and diverse business lines. The Company is well positioned for sustained future growth as its clients require more advice on the ever-evolving regulatory, tax and policy landscape, and corporate focus on areas including risk management, cyber and ESG continue to grow, where Grant Thornton can provide valuable support and advice to its clients.
• Leading ability to attract, develop and retain talent:  Grant Thornton is led by more than 240 partners and over 5,500 talented professionals and is recognised as one of the UK’s leading employers with a strong commitment to talent development.
• Strong commitment to high-quality client service and audit standards: Grant Thornton offers a differentiated client proposition, built around quality of service, strength of relationships and focus on maintaining the highest industry standards.
• Leading role in the global Grant Thornton International Network: Through its commitment to the Grant Thornton International Network,Grant Thornton combines global scale with local insight and an understanding of 150 markets.

Maxim Crewe, Partner and Head of Cinven’s Financial Services Sector team, and Rory Neeson, Partner and Head of Cinven’s Business Services Sector team commented:

“Cinven is delighted to be making this investment in Grant Thornton, one of the UK’s leading accounting and advisory services firms. Through this process we have been hugely impressed by the strength of the business, calibre of its Partner group and its unwavering commitment to delivering client excellence with high audit standards. Cinven has extensive experience of successfully investing in people-based professional service providers such as Alter Domus, Miller and CPA Global, and we see significant opportunity to support the business in meeting the growing needs of clients, including through investing in technology-enablement, attracting and developing top industry talent and supporting the development of the Grant Thornton International Network. We’re excited to be working with Grant Thornton’s industry-leading CEO, Malcolm, and the Partnership as we support Grant Thornton through its next phase of growth.”

Samy Jazaerli, Principal in Cinven’s Financial Services Sector team added:

“Accounting Services has been a priority sector for Cinven’s Financial Services team, and Grant Thornton’s strong brand, broad product offering, blue-chip customer base, and successful track record set it apart in the UK market. Drawing on our significant experience of partnering with management teams to accelerate the growth of high-quality companies and our strong presence in the UK and internationally, Cinven is well placed to support the acceleration of the Company’s strategy and maintain its growth momentum.”

Malcolm Gomersall, CEO of Grant Thornton UK said:

“This investment in our business is a testament to the hard work of everyone at Grant Thornton UK and the exciting opportunity that lies ahead. Cinven’s proactive and thoughtful approach to partnering with management teams, the value they place on culture and their articulation of how they could reinforce and enhance our commitment to audit quality was a key differentiator in our decision to partner with them. I look forward to working with the Cinven team to continue the firm’s strong growth trajectory.”

The transaction is subject to Partner ratification, regulatory approvals and customary closing conditions.

Grant Thornton was advised by Rothschild (M&A), DLA Piper (Legal), LEK (Commercial) and EY (Financial & Tax).

Cinven was advised by Goldman Sachs International (M&A), Freshfields (Legal), Oliver Wyman (Commercial), EY (Financial & Operations) and Deloitte (Tax).

• New joint ownership will support Max Matthiessen in fulfilling its accelerated international growth plan both organically and through acquisitions
• With its CAD 13 billion financial services private equity portfolio, Ontario Teachers’ will bring additional value creation capabilities and experience in building international insurance distribution and wealth management companies
• The transaction will allow Nordic Capital to further fuel Max Matthiessen’s development, based on the strong platform created over the last four year

Ontario Teachers’ Pension Plan (“Ontario Teachers’”), a major global institutional investor, and Nordic Capital, an experienced Financial Services private equity investor in Northern Europe, today announced an agreed new co-control ownership for Max Matthiessen (“Max Matthiessen” or “the Company”), a leading financial advisor for pensions, insurance and investments in the Nordics.

The new ownership will support the Company’s continued growth and international development. Both investors have a shared vision for Max Matthiessen’s next phase and can draw upon a strong track record of building successful international insurance distribution and wealth management companies.

Max Matthiessen provides pension, insurance and wealth management solutions for employers, entrepreneurs and individuals. It offers advice, analysis, administration and procurement of pension and insurance products as well as investment and asset management solutions. Founded in 1889, Max Matthiessen is headquartered in Stockholm, Sweden and has more than 800 employees at 45 locations across the Nordic region, serving over 18,000 corporate clients. The Company is also committed to sustainable investments, providing its clients access to high-quality ESG-focused products.

With its strong management team and established position as a leading, integrated employee benefits and risk platform, Max Matthiessen is well-placed to build on its growth momentum. This acquisition enables the Company’s further access to long-term capital and sector expertise to accelerate its expansion into international markets both organically and through acquisitions.

Iñaki Echave, Senior Managing Director and Head of EMEA Private Capital at Ontario Teachers’, said: “We are excited to back Max Matthiessen’s management team. Our joint ambition is to consolidate Max Matthiessen as the leading insurance and financial services company in the Nordics, accelerating its growth both in its current markets and verticals, and through synergistic acquisitions. We will leverage our deep expertise in wealth management and insurance services to help the company expand into new markets and adjacent segments, invest in technology and product development, and further enhance its ambitious sustainability programme. We look forward to partnering with Team Max Matthiessen, who share Ontario Teachers’ passion for helping people achieve financial security over the long term.”

Emil Anderson, Partner and Co-Head Financial Services, Nordic Capital Advisors, said: “Nordic Capital is enthusiastic to invest further in Max Matthiessen together with Ontario Teachers’ to allow the company to continue to scale its business model and build on market dynamics in its segment. In 2020, Nordic Capital invested in Max Matthiessen to realise its potential by scaling the Company’s platform, driving growth through investing in the team, modernising the product offering to benefit the individual customer, and exploring selective international acquisition opportunities. Today, Max Matthiessen has strong consistent growth, a platform providing a comprehensive end-to-end solution and a sustainable product offering that attracts a much broader audience. Max Matthiessen is now poised for its next phase of continued international growth, delivering outstanding services to its customers.”

Jacob Schlawitz, CEO, Max Matthiessen said: “We are excited to have Ontario Teachers’ backing the next phase of our development alongside Nordic Capital. This partnership underscores our commitment to putting clients at the heart of everything we do. We are grateful for Nordic Capital’s support, together we have reached significant milestones — expanding our client offerings, driving sustainability, entering new markets, all while staying focused on delivering value to our customers. At the same time, we have been strategically investing in our future by enhancing client value and developing talent, ensuring the company is well-positioned for sustained growth and success. With Ontario Teachers’ joining this partnership, we are excited to leverage their expertise to expand our reach and thereby serve even more clients across both the Nordics and internationally.”

Ontario Teachers’ will acquire a co-control stake in Max Matthiessen through its Private Capital division. Nordic Capital initially invested in Max Matthiessen in 2020 and will now invest via Nordic Capital XI, following the exit of its initial investment through Nordic Capital IX.

Insurance and financial services are a core sector of focus for Ontario Teachers’, which has direct investments in the sector worth more than CAD 13 billion. The Private Capital team at Ontario Teachers’ has made 14 investments in financial services companies globally, 12 of which it has led or co-led. Recent transactions in the sector include Ontario Teachers’ acquisitions of 7iM, a leading UK wealth and investment manager; European trading and savings platform TradeRepublic; Diot-Siaci, a leading independent European insurance broker operating worldwide; and Westland Insurance Group, one of the largest independent insurance brokers in Canada, through portfolio company, BroadStreet Partners.

With a dedicated sector-focused team, Nordic Capital is an experienced private equity investor in Financial Services in Northern Europe. It focuses on fast growing segments with strong underlying fundamentals such as Savings and Wealth Management, Banking & Lending and P&C Insurance. Over the last six years, Nordic Capital has completed 18 transactions within financial services and financial technology and has deployed EUR 3.3 billion of equity capital in the sector to date. Its current Financial Services portfolio generates EUR 1.3 billion of revenues and employs over 3,200 people. Nordic Capital has achieved success in this sector to date, having developed thriving companies including Max Matthiessen, Nordnet, NOBA, RiskPoint and Qred.

Terms of the transaction were not disclosed. The investment is subject to customary regulatory approvals and expected to be completed in H1 2025.Houlihan Lokey acted as leading financial sell side advisor.

Contact Details

Ontario Teachers’
Henrietta Dehn / Alisha Prakash
Email: media@otpp.com

Kekst CNC
Email: OTPP@kekstcnc.com

Nordic Capital
Katarina Janerud
Communications Manager, Nordic Capital Advisors
Tel: +46 8 440 50 50 e-mail: katarina.janerud@nordiccapital.com

About Ontario Teachers’ Pension Plan
Ontario Teachers’ Pension Plan Board (Ontario Teachers’) is a global investor with net assets of CAD 255.8 billion as at June 30, 2024. We invest in more than 50 countries in a broad array of assets including public and private equities, fixed income, credit, commodities, natural resources, infrastructure, real estate and venture growth to deliver retirement income for 340,000 working members and pensioners.

Our more than 450 investment professionals operate in key financial centres around the world and bring deep expertise in a broad range of sectors and industries. We are a fully funded defined benefit pension plan and have earned an annual total-fund net return of 9.3% since the plan’s founding in 1990. At Ontario Teachers’, we don’t just invest to make a return, we invest to shape a better future for the teachers we serve, the businesses we back, and the world we live in. For more information, visit otpp.com and follow us on LinkedIn.

About Nordic Capital

Nordic Capital is a leading sector-specialist private equity investor with a resolute commitment to creating stronger, sustainable businesses through operational improvement and transformative growth. Nordic Capital focuses on selected regions and sectors where it has deep experience and a long history. Focus sectors are Healthcare, Technology & Payments, Financial Services, and Service & Industrial Tech. Key regions are Europe and globally for Healthcare and Technology & Payments investments. Since inception in 1989, Nordic Capital has invested EUR 26 billion in close to 150 investments. The most recent entities are Nordic Capital XI with EUR 9.0 billion in committed capital and Nordic Capital Evolution with EUR 1.2 billion in committed capital, principally provided by international institutional investors such as pension funds. Nordic Capital Advisors have local offices in Sweden, the UK, the US, Germany, Denmark, Finland, Norway, and South Korea. www.nordiccapital.com.

“Nordic Capital” refers to, depending on the context, any, or all, Nordic Capital branded entities, vehicles, structures, and associated entities. The general partners and/or delegated portfolio managers of Nordic Capital’s entities and vehicles are advised by several non-discretionary sub-advisory entities, any or all of which are referred to as “Nordic Capital Advisors”.

About Max Matthiessen

Max Matthiessen, founded in 1889, is one of the leading financial advisors within pensions, insurance and investment in the Nordic region. They offer expert advice and guidance on savings, benefits, and insurance to companies and their employees, as well as to private individuals. Their team of advisors, brokers, administrators, and specialists supports businesses and individuals with procurement, analysis, packaging, advisory services, and the administration of top-tier savings and insurance solutions available in the market. Today, the company employs approximately 800 people across Sweden, Denmark and Norway.

Investcorp, a leading global alternative investment firm, in partnership with the Public Sector Pension Investment Board (“PSP Investments”), today announced their strategic growth investment in PKF O’Connor Davies (“PKFOD”) (“the Organization”), one of the largest accounting, tax and advisory firms in the US.

This transaction represents a significant milestone for PKFOD, adding two experienced investors that will help fuel growth and expand service offerings to enhance the overall client experience. This partnership will elevate the Organization’s competitiveness and amplify long-term sustainability. The strengthened balance sheet will provide flexibility for increased M&A activity as well as investing in cutting-edge technology and new service lines.

Investcorp has a well-established record of investing in specialized professional services firms with notable investments including AlixPartners, ICR, Resultant, United Talent Agency and CrossCountry Consulting.

Steve Miller, Co-Head of North America Private Equity at Investcorp, said: “In recent years, Investcorp has established itself as a partner of choice for ambitious professional services organizations seeking to grow. Together with PSP Investments, with whom we have a history of investments in the professional services sector, and more than 200 PKFOD partners, we are excited to build upon the Organization’s decades of success.”

Vitali Bourchtein, Principal at Investcorp, said: “As ownership rules in the sector have evolved, we have been seeking the right platform to back. We were instantly impressed by PKFOD’s leadership team and the exceptional track record of financial performance. Providing the Organization with additional resources will help accelerate growth and enhance its competitive position in the accounting, tax and advisory verticals.”

David Morin, Managing Director and Head of North America, Private Equity at PSP Investments, added: “We are excited to partner with Investcorp and PKFOD to provide strategic capital and work together in realizing PKFOD’s full potential during their next chapter of growth.”

Kevin Keane, Executive Chairman at PKF O’Connor Davies, said: “Since inception, our identity as an Organization has been our enduring commitment to service. This investment from Investcorp and PSP Investments further validates that we have an attractive business with a great brand, great talent, and great customers. Investcorp and PSP Investments have a long history of backing profitable, industry-leading companies with demonstratable growth avenues and were impressed by PKFOD and the culture that we have built.”

Going forward, PKFOD will continue to operate in an alternative practice structure in accordance with applicable professional standards where PKF O’Connor Davies LLP, a licensed CPA firm, will continue to provide attest services and PKF O’Connor Davies Advisory LLC and its subsidiary entities will continue to provide tax and advisory services.

Terms of the transaction were not disclosed. The transaction has received regulatory approval and is subject to other standard closing conditions.