Wednesday, 23 July 2014
Last updated 1 hour ago
Jul 30 2008 | 11:05am ET
European private equity fund of funds shop Access Capital Partners has sold half of its equity to N+1 Group, the €3 billion (US$4.7 billion) Madrid-based alternative assets, financial and wealth advisory firm.
Previously, CapMan, a €3.1 billion alternative shop, held a 47.5% stake in Access. Two years ago, CapMan sold 12.5% of the company’s share capital to the Access managing partners, giving them 65% of the company.
The new deal allows for a complete exit of CapMan, which is selling its remaining 35% stake to N+1 and the Access managing partners. Under the terms of the deal, N+1 Group is buying 50% of Access through an acquisition vehicle in which the Access managing partners have re-invested.
Dominique Peninon, Agnès Nahum and Philippe Poggioli now collectively maintain a 56.5% direct and indirect holding in the company, and will continue to manage the firm autonomously.
Access manages €2.5 billion (US$3.9 billion) in assets and specializes in small-to-mid market buyout and special situations funds.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…