Tag Archives: Investments

Termination of sale of 3i’s stake in ACR

3i Group plc (“3i”) notes that ACR Capital Holdings Pte. Ltd (“ACR”) has today announced that the proposed acquisition of ACR by Shenzhen Qianhai Financial Holdings Co. Ltd. and Shenzhen Investment Holdings Co. Ltd will not be proceeding.

The book value methodology used to value 3i’s stake in ACR did not change as a result of the implementation agreement being signed in October 2016, and at 30 June 2017 it was valued at £131m.

Over the past year, ACR has continued to successfully execute on its original strategy, pursuing profitable growth opportunities while simultaneously de-risking and rebalancing its portfolio, and further strengthening its business franchise and brand. These measures have resulted in significant improvement in ACR’s underwriting and financial performance, with its business tracking ahead of plan across all key metrics.

-Ends-

For further information, contact:

3i Group plc
Kathryn van der Kroft
Media enquiries
Tel: +44 20 7975 3021
Email: kathryn.vanderkroft@3i.com

Silvia Santoro
Investor enquiries
Tel: +44 20 7975 3258
Email: silvia.santoro@3i.com

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Ratos AB: Daniel Juhlin appointed new CEO of Plantasjen

Ratos

Daniel Juhlin has been appointed new CEO of Plantasjen, the Nordic region’s leading chain for sales of plants and gardening accessories. Daniel Juhlin has extensive experience from the consumer goods and retail sector, most recently as CEO of Byggmax AB, which is part of Byggmax Group AB. He will assume the position in December this year.

Daniel Juhlin has more than 15 years of experience from the consumer goods and retail sector. He most recently served as CEO of Byggmax AB, part of Byggmax Group AB, prior to this he was deputy CEO of Byggmax Group AB and Head of Marketing- and IT/online. Earlier positions include CEO of Candyking Sverige AB and CEO of Friggs AB. He is 43 years old and holds a MSc in Industrial Management from the Royal Institute of Technology in Stockholm. Daniel will assume his position as CEO of Plantasjen in December.

“In recent years, Plantasjen has implemented a number of initiatives, such as the launch of small-format store concepts, changes to the supply chain and the acquisition of SABA Blommor AB. Daniel will contribute to Plantasjen’s onward journey through his previous experience from consumer product companies and working in sales development, operational improvements and e-commerce focusing on the customer. His background is suitable for Plantasjen’s plans to develop e-commerce solutions and thereby renew its customer offering with the goal of improving customer satisfaction,” says Magnus Agervald, CEO of Ratos and company executive of Plantasjen.

Plantasjen was acquired in 2016 and is the Nordic region’s leading chain for sales of plants and gardening accessories with around 120 stores in Norway, Sweden and Finland and a primary focus on consumers. Sales amounted to NOK 3,624m and adjusted EBITA to NOK 293m in 2016. 

For further information, please contact:

Magnus Agervald, CEO Ratos, +46 8 700 17 00

Hilde Britt Mellbye, Chairman of the Board Plantasjen, +47 997 16 617
Helene Gustafsson, Head of IR and Press, +46 8 700 17 98

Financial calendar from Ratos:
Interim report January-September 2017       14 November 2017
Year-end report 2017                                    16 February 2018
Interim report January-March 2018               3 May 2018
Interim report January-June 2018                 17 August 2018
Interim report January-September 2018        25 October 2018

Ratos is an investment company that owns and develops unlisted medium-sized companies in the Nordic countries. Our goal as an active owner is to contribute to long-term and sustainable business development in the companies we invest in and to make value-generating transactions. Ratos’s portfolio consists of 14 medium-sized Nordic companies and the largest segments in terms of sales are Industrials, Consumer goods/Commerce and Construction. Ratos is listed on Nasdaq Stockholm and has a total of approximately 13,400 employees.

 

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Tesi launches 150 million euro fund-of-funds

Investments in funds – 25.10.2017

Since 2009, the KRR fund-of-funds concept has accelerated the growth and internationalisation of 150 companies

Helsinki, Finland – Tesi, in co-operation with Finnish institutional investors Ilmarinen, Keva, VER, Elo, LähiTapiola and Fennia, has established a new fund-of-funds KRR III. Similarly to its predecessors, KRR III invests in Finnish venture capital and small buyout funds. Its total capital is 150 million euros.

”KRR is a great example of collaboration between Tesi and Finnish pension and insurance companies to ensure that Finnish companies are able to raise capital to grow on international markets. KRR plays a significant role in accelerating the growth of these companies,” says Mika Lintilä, Minister of Economic Affairs.

In 2009-2017, KRR I and KRR II invested in altogether 19 Finnish venture capital and small buyout funds. These funds have, to date, invested in roughly 150 companies generating a total turnover of 1,6 billion euros and employing 13 000 people. With KRR III in place, the number of portfolio companies will be more than 300.

“As a repeated investment vehicle, KRR III ensures the continuity of capital supply to selected risk capital funds in Finland. In addition to capital, these fund managers will bring their own expertise and networks to their portfolio companies,” comments Jan Sasse, CEO at Tesi.

“We are excited about participating in KRR III. For us, KRR provides an efficient way to participate in the growth of many companies through only one investment decision,” says Esko Torsti, Director at Ilmarinen. “This is a great way to combine profitable investments with a positive economic and societal impact,” points out Markus Pauli, Director at Keva.

For more information, please contact:

Jan Sasse, CEO, Tesi
Tel. +358 40 861 9151, e-mail: jan.sasse(at)tesi.fi


Tesi (Finnish Industry Investment Ltd) is a venture capital and private equity company that accelerates companies’ success stories by investing in them directly and via funds. Tesi always invests together with other investors, providing them with access to high quality deal-flow in Finland. Our investments under management total 1 billion euros and we have altogether 723 companies in portfolio. www.tesi.fi / @TesiFII

 

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Activa Capital boosts its investment team with the appointment of Timothée Heron as associate

Paris, 10 October 2017
–
Activa Capital, the Paris-based independent private equity firm, is pursuing its development strategy and announces the arrival of Timothée Héron, 26, as Associate.
Timothée will reinforce the investment team in analyzing new opportunities. Prior to joining Activa Capital, Timothée
worked for 2 years as an M&A analyst at DC Advisory, after previous work experience in large and mid-cap M&A at UBS and Credit Suisse. Timothée is a graduate of Dauphine University, Paris.
“We are very pleased to welcome Timothée to Activa Capital’s investment team, which now counts 12 professionals dedicated to investments. His transactional experience on the French SME market will strengthen our ability to identify strong investment opportunities and support management teams with their growth projects”, says Christophe Parier, Partner at Activa Capital.
About Activa Capital
Activa Capital is a leading French mid-market private equity firm. Activa Capital manages over €500m of private equity funds on behalf of a wide range of institutional investors. Activa Capital partners with ambitious mid-sized French companies, valued at €20m to €200m, seeking to accelerate their growth and their international footprint. Learn more about Activa Capital at
activacapital.com
.

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EQT Real Estate broadens its German portfolio

eqt

  • EQT Real Estate invests in two office buildings comprising about 70,000 square meters in Frankfurt, Germany’s foremost hub for financial services
  • The plan includes an extensive repositioning of the buildings in the rapidly changing Niederrad and Neu-Isenburg submarkets
  • The investment represents EQT Real Estate’s fifth investment to date

EQT Real Estate I (“EQT Real Estate” or “the Fund”) has acquired two multi-let office assets in Frankfurt, Germany. The assets form part of the pan-German portfolio Project Mars, acquired by Eurocastle from DWS in 2007, and represents the fund’s fifth investment to date and second in Germany.

Frankfurt is well-known as an attractive base for the European banking and financial services sectors, with a rapidly evolving office market with strong demand from tenants but only a small number of new developments. The two buildings are both modern and strategically located in terms of transport links and political initiatives. The largest one, Atricom, comprises 45,600 square meters and is located in Niederrad, while the second building, Le Büro, comprises 23,700 square meters and is located in Neu-Isenburg.

The buildings are set to receive a comprehensive refresh and optimization by further modernizing, upgrading and improving the buildings, both technically and visually, in order to offer future and existing tenants a quality working environment.

Frank Forster, Director at EQT Partners and advisor to the Fund, said:

“We are looking forward to EQT Real Estate taking part of the ongoing development in Frankfurt-Niederrad. The area is rapidly changing and the plans for Atricom should make a positive contribution to this part of town.”

Contacts:
Frank Forster, Director at EQT Partners, Investment Advisor to EQT Real Estate I, +44 20 8432 5404
EQT Press Office, +46 8 506 553 34

About EQT
EQT is a leading alternative investments firm with approximately EUR 37 billion in raised capital across 24 funds. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 19 billion and approximately 110,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

More info: www.eqtpartners.com

About EQT Real Estate I
EQT Real Estate I will seek to make direct and indirect controlling investments in real estate assets, portfolios and operating companies that offer significant potential for value creation through repositioning, redevelopment, refurbishment and active management. The investments will typically range between EUR 50 million and EUR 200 million. The fund is advised by an experienced team from EQT Partners, with extensive knowledge of property investment, development and intensive “hands-on” asset management, and with access to the full EQT network, including 10 European offices and more than 250 industrial advisors.

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Oakley Capital closes €800 million fund

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Oakley Capital closes €800 million fund

Oakley Capital (“Oakley”) is pleased to announce that it has closed its third fund, Oakley Capital Private Equity III (“Fund III”), raising €800 million. Continued strong support from existing investors and a €326 million commitment from Oakley Capital Investments Limited, the AIM-listed Fund established to provide investors with access to the Oakley Funds, has enabled Oakley to raise its largest fund to date.

Key highlights:

  • Successful close above original hard cap of €750 million due to investor demand;
  • Strong investment from Oakley portfolio entrepreneurs and management teams who contributed 5% of the funds raised;
  • Oakley partners and staff contributed in excess of 5% of the total funds raised;
  • 75% re-up rate of Fund II institutional investors, demonstrating their belief in Oakley’s performance and potential; and
  • Fund III has already been very active with five investments across Oakley’s core sectors and is already 40% deployed.

Oakley Capital has a highly successful 15 year track record of investing across Western Europe, with a focus on identifying investments where the firm can work proactively with founders and management teams in order to create substantial shareholder value for its investors.

Fund III attracted strong interest from high quality investors, and closed above its original hard cap at €800 million, with 75% of the institutional investors in Fund III choosing to re-up, highlighting their confidence in Oakley’s investment strategy. This has been echoed in the investment made by Oakley’s partners and staff, as well as the strength of our new investors, further demonstrating Oakley’s brand strength and successes in the market. The investment from Oakley’s portfolio entrepreneurs and management teams reinforces the collaboration between the firm and its entrepreneurial network, which supports deal origination and the future pipeline.

Fund III has already been very active with five investments across Oakley’s core sectors: Schülerhilfe (Education), TechInsights (TMT), Plesk (TMT), Casa.it and atHome.lu (Digital Consumer) and AMOS (Education). These deals further Oakley’s track record of managing complex carve outs and primary deals with a focus on backing the best founders and management teams.

Oakley’s Fund II (a €525 million 2013 vintage fund) continues to be successful, with average year-on-year EBITDA and revenue growth both in excess of  30% for it’s portfolio companies. Following on from the success investment strategy in Fund II, Oakley is leveraging its experience in its core sectors of Digitial Consumer, TMT and Education in Fund III. The Oakley Funds have also had particular success in the German speaking markets, which remains a key focus in the current fund. Fund III seeks to invest in companies with enterprise values between €60 million and €300 million.

Through its three funds, Oakley has completed 25 acquisitions primarily across Western Europe with a combined enterprise value of over €4 billion. Since inception, realised investments have achieved gross returns of 44% IRR and 2.5x money multiple and returned c.€780 million to investors.

Peter Dubens, Managing partner and Co-founder of Oakley, commented:

“We are delighted to announce another successful fundraise, a result of the confidence our investors have in our abilities to continue to identify attractive investment opportunities across Western Europe.

Through our sector expertise, we are able to embrace complexity, buy-in at attractive multiples and generate superior returns.

We continue to draw support from management teams we have previously backed, demonstrating their belief in our entrepreneurial approach to engaging with our portfolio companies in order to grow and develop businesses, whilst delivering compelling returns to investors.

Fund III is off to an excellent start, having already made five acquisitions. With a healthy pipeline, and the continued support of a talented and growing senior leadership team, I am confident that we will continue to deliver strong investment returns for our investors.”

David Till, Senior Partner and Co-founder of Oakley, added:

“As we increase our funds under management, so we have been able to attract the very best people to our firm, a factor that is core to our success in generating strong returns. We all feel incredibly proud of the achievements of the firm and the value created for its investors.”

 

– Ends –

 

For further information please contact:

Oakley Capital Private Equity                                               +44 20 7766 6900

Peter Dubens, Managing Partner

FTI Consulting LLP                                                                     +44 20 3727 1000

Edward Bridges / Stephanie Ellis

About Oakley Capital Private Equity L.P. (“Fund I”), Oakley Capital Private Equity II (“Fund II”) and Oakley Capital Private Equity III (“Fund III”) together the “Oakley Funds”

Oakley Capital Private Equity L.P. and its successor funds, Oakley Capital Private Equity II and Oakley Capital Private Equity III, are unlisted mid-market private equity funds with the aim of providing investors with significant long term capital appreciation. The investment strategy of the funds is to focus on buy-out opportunities in industries with the potential for growth, consolidation and performance improvement.

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Request for a share buyback programme of up to 25% of the outstanding registered shares

Castle Private Equity Ltd today published an invitation for an extraordinary general meeting to seek shareholder approval regarding a fixed-price share buyback programme of up to 25% of outstanding registered shares. In addition, the Board of Directors proposes a reduction of the minimum shareholding for placing items on the agenda.

The main objective of the buyback for cancellation purposes will be to distribute liquidity to shareholders. Castle Private Equity Ltd. will contact major shareholders on their willingness to tender shares to the transaction in the next weeks.

 

If approved by extraordinary general meeting, the share buyback is anticipated to occur subject to conditions in November 2017. Details regarding the transaction will be published following the extraordinary general meeting.

 

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Cancellation of own shares and reduction of par value

Cancellation of own shares and reduction of par value

Castle Private Equity AG announces that the cancellation of 2,904,511 own shares which was approved at the 15 May 2017 general meeting of shareholders was registered by the commercial register on 25 September 2017.

With regards to the listing of the company’s shares at the SIX Swiss Exchange, the cancellation becomes effective as of 26 September 2017 (date of exchange adjustment). From then on, the issued share capital of the company will amount to 26,323,950 registered shares with a par value of CHF 0.05 each.

As a result of the cancellation, the company’s holding of own shares will reduce to below 10 per cent.

Further notifications of changes in significant shareholdings due to the cancellation of 2,904,511 own shares can be expected.

For further information, please contact:

Benedikt Meyer, General Manager, telephone: +41 55 415 9710

or e-mail: lgt.cpe@lgt.com

Swiss Security Number 4885474

A joint stock corporation incorporated on February 19, 1997 under Swiss laws

Registered Office: Schuetzenstrasse 6, 8808 Pfaeffikon/SZ, Switzerland

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Partners Group publishes market outlook for H2 2017: ‘In search of platform-building opportunities’

Partners Group logo

aar-Zug, Switzerland, 30 August 2017

Partners Group publishes market outlook for H2 2017: ‘In search of platform-building opportunities’

Partners Group today publishes its H2 2017 Private Markets Navigator report, which shares the firm’s mid-term outlook and investment preferences for all private markets asset classes.

Introducing the report, Steffen Meister, Partner, Delegate of the Board of Directors, and Chairman of the Relative Value Committee at Partners Group, says: “We continue to believe in a base case macroeconomic projection of sustained low but steady growth. However, after nearly a decade of rising markets, and with a shift away from extremely loose monetary policy, there is the risk of a deviation from our base case. Identifying anchor assets with platform-building potential in above-average growth segments and testing their resilience to adverse economic scenarios is key to outperformance in this environment.”

A short summary of the views presented in the H2 2017 Private Markets Navigator:

Private equity: the prospect of different potential macroeconomic outcomes paired with high valuations makes for a challenging investment environment. To continue to generate sustainable returns, we focus on ‘platform investments’ through which we can develop resilient market leaders at a reasonable price. Next to platform investments, we maintain two additional major investment strategies: we aim to find ‘category winners’, which are leaders in terms of market share or growth potential in sub-sectors benefiting from trend-based tailwinds, and seek out ‘niche leaders’ with strong defensive capabilities. A recent example of our ability to capture a category winner is our acquisition of Cerba HealthCare, a leading European operator of clinical pathology laboratories.

Private real estate: an uncertain market environment has prompted us to take a more measured investment approach. We seek properties and locations benefiting from social, demographic and technological trends and remain focused on identifying assets with value creation potential. To crystallize value, we buy assets in rebounding markets below replacement cost, we ‘buy, fix, and sell’ older properties in great locations that are in need of active asset management and we selectively develop core. The European office market, for instance, offers opportunities to buy properties below replacement cost and upgrade their design to cater to the changing ways in which people live and work. One such opportunity is represented by our acquisition of CB16 Tower in La Défense, Paris.

Private debt: while many market participants have been willing to pursue more aggressive structures with even lower pricing, we favor more conservatively structured investment opportunities which we source and negotiate outside of traditional syndicated loan markets. We continue to focus on supporting successful sponsors and management teams in their buy-and-build strategies, on offering creative structures that support companies’ specific cash flow profiles and working capital needs, and on targeting niche industries where we have the depth of experience and confidence in underlying growth fundamentals. For example, based on our long track record of investment in the restaurant industry, we recently invested in Checkers, a quick service restaurant chain in the US.

Private infrastructure: as infrastructure asset valuations continue on their steady upward trajectory, especially in the core space, our investment focus remains firmly on assets that offer value creation potential, with platform-building being our preferred strategy. We consider platform investments in all sectors of the infrastructure market and currently see the most attractive opportunities within the communications and energy infrastructure spaces. Proactively building core assets instead of buying them continues to be our preferred strategy for renewable power generation assets, particularly in Europe and the Asia-Pacific region. One example is our investment in Sapphire Wind Farm, a 270MW onshore wind project in Australia.

To request a copy of the report, please contact Milevka Grceva: milevka.grceva@partnersgroup.com

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Partners Group appoints Shunsuke Tanahashi as Head of Japan Office

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Partners Group appoints Shunsuke Tanahashi as Head of Japan office

Partners Group, the global private markets investment manager, has appointed Shunsuke Tanahashi as Head of its Japanese business. Shunsuke Tanahashi joined Partners Group in April 2017 as a Senior Vice President in its Tokyo office.

Shunsuke Tanahashi brings more than 20 years of industry experience to his role as Japan Head. Prior to joining Partners Group, he was CEO at Ark Totan Alternative, and also worked for Ant Capital, Goldman Sachs Asset Management Tokyo, Mitsubishi UFJ Trust Bank, and the Research Institute for Pensions and Policies on Aging (RIPPA). He holds an MBA from the University of Michigan and a bachelor’s degree from Tokyo University.

Shunsuke Tanahashi comments: “I am very excited to take on this new challenge, which comes at a momentous time in the Japanese market. Institutional investors in Japan are increasingly turning to private markets asset classes such as private equity and private infrastructure as an attractive source of returns in a low-growth environment. It is my belief that many of them will choose to work with a global investment manager capable of providing a comprehensive private markets solution and with industry-leading ESG credentials.”

Kevin Lu, Chairman of Asia, states: “With his substantial experience and an in-depth understanding of private markets, we believe Shunsuke Tanahashi is ideally positioned to lead our efforts in Japan. I look forward to working together with him in the future to build out our relationships with institutional investors and distribution partners in this important market.”

 

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