Sunday, 29 November 2015
Last updated 1 day 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.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…