A positive outlook for Eurazeo Growth in a more digital world

Eurazeo

Paris, May 6, 2020 – The Eurazeo Growth companies, which currently account for 12% of the Group’s net
asset value (more than € 700 million) are successfully weathering the crisis and most have seen the pace
pick up in their underlying markets.

Since France put in place its lockdown measures and after practices were adapted in record time, a
number of these companies have experienced a significant surge in business, as they offer a digital
alternative in industries that have been badly shaken by the current health crisis. Examples include
Doctolib, a website that enables thousands of health practitioners in France and Germany to continue
consulting patients, as well as ManoMano, Back Market and Vestiaire Collective, which have clocked up
a considerable rise in demand on their retail websites and double-digit year-on-year growth on average,
or Younited Credit, which alongside Bpifrance is distributing fully digital “Recovery Loans” to support SMEs
in France, thereby maintaining strong momentum in its B2B venture, Younited Business Solutions.

In a world undergoing wholesale changes that will need to further harness digital technology, the mediumterm outlook has improved for all Eurazeo Growth companies, in particular those facilitating the digital transformation, such as Adjust, Contentsquare and Payfit. With their strong cash position and as leaders in the market, these companies are well positioned to take advantage of the additional growth opportunities that arise.

This is demonstrated by the success of recent funding rounds, in which Eurazeo invested nearly €150
million and in particular, Back Market with Eurazeo Growth investing €35 million. The strong outlook is
also bolstered by the trust of the Group’s investor partners, which, despite uncertainty in the global market,
have confirmed their interest in the Eurazeo Growth III fund.

About Eurazeo
o Eurazeo is a leading global investment company, with a diversified portfolio of €18,8 billion in assets under
management, including €12,5 billion from third parties, invested in over 430 companies. With its considerable
private equity, venture capital, real estate, private debt and fund of funds expertise, Eurazeo accompanies
companies of all sizes, supporting their development through the commitment of its nearly 300 professionals
and by offering deep sector expertise, a gateway to global markets, and a responsible and stable foothold for
transformational growth. Its solid institutional and family shareholder base, robust financial structure free of
structural debt, and flexible investment horizon enable Eurazeo to support its companies over the long term.

o Eurazeo has offices in Paris, New York, Sao Paulo, Seoul, Shanghai, London, Luxembourg, Frankfurt, Berlin
and Madrid.
o Eurazeo is listed on Euronext Paris.
o ISIN: FR0000121121 – Bloomberg: RF FP – Reuters: EURA.PA

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The Carlyle Group Leads, Structures Debt Financing for Sterling Investment Partners’ Acquisition of AIMS Companies

Carlyle

NEW YORK – Global investment firm The Carlyle Group (NASDAQ: CG) today announced it led and structured the debt financing package to support Sterling Investment Partners’ recapitalization of AIMS Companies alongside AIMS’ founder and CEO, Chris Mihaletos. Carlyle’s middle market lending platform, Carlyle Direct Lending, acted as sole lead arranger and sole book runner on the financing.

With approximately $5 billion of assets under management, Carlyle Direct Lending is focused on making directly originated investments across the capital structure, including senior secured loans, unitranche loans and junior debt, primarily in private equity sponsor-backed companies. The team is comprised of more than 30 dedicated investment professionals in New York, Los Angeles, Chicago and Boston.

Miles Toben, Principal of Carlyle Direct Lending, said, “We are grateful for our long-standing relationship with Sterling and the opportunity to strengthen our partnership through the AIMS transaction. We look forward to supporting AIMS’ robust pipeline of new contract and M&A opportunities under Sterling’s ownership.”

Headquartered in Scottsdale, Arizona, AIMS is a leading national provider of infrastructure inspection, maintenance and support services to the municipal, utility, industrial and energy end-markets. The company’s complementary services, including pipe inspection and cleaning, hydroexcavation and vacuum and hydroblast cleaning, are critical to its customers’ ability to maintain operational workflow and regulatory compliance. The company’s cross-trained workforce, expansive fleet of over 400 units, strategically-positioned 15 branch locations and company-wide culture of safety and performance have enabled AIMS to become a trusted partner to its customer base.

* * * * *

About The Carlyle Group
The Carlyle Group (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across four business segments: Corporate Private Equity, Real Assets, Global Credit and Investment Solutions. With $217 billion of assets under management as of March 31, 2020, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. The Carlyle Group employs more than 1,775 people in 32 offices across six continents. Further information is available at www.carlyle.com. Follow The Carlyle Group on Twitter @OneCarlyle.

Carlyle Global Credit is the credit investment arm of The Carlyle Group with approximately $49 billion of assets under management. The group’s investment strategies span the credit spectrum: liquid credit, illiquid credit and real assets credit. Since 1999, Carlyle Global Credit has provided creative solutions for borrowers and delivered attractive risk-adjusted returns for investors by drawing on the deep credit expertise and disciplined underwriting capabilities of our over 150 investment professionals and by leveraging the resources and industry expertise of Carlyle’s global network.

About Sterling Investment Partners
Sterling Investment Partners is a private equity firm that has been investing in and building middle-market companies for over 29 years with a highly-experienced, cohesive team of senior investment professionals. Sterling acquires businesses that the firm believes have strong, sustainable competitive advantages and significant opportunities for value creation. Over its history, Sterling has completed over 170 transactions, representing $17.5 billion in transaction value. Key industries Sterling focuses on include value-added distribution and business services.

Media contact:
Brittany Berliner
+1 (212) 813-4839
brittany.berliner@carlyle.com

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Verso Capital acquires and accelerates spin-offs with a new €100 million fund

Tesi

INVESTMENTS IN FUNDS – 4.5.2020

The new €100 million fund acquires businesses that have strong growth potential but are not living up to their full potential in the current ownership.

Verso Capital is a growth stage buyout investor with a special focus on carve-out situations. The new €100 million sector agnostic fund acquires businesses that have €5-50 million revenues but suffer from growth or profitability bottlenecks. Typical cases are carve-outs from larger corporations and rearrangements of joint ventures, but the fund also invests in existing growth companies to help drive accelerated growth through M&A transactions. With offices in Helsinki and Munich, Verso Capital invests across Europe with a focus on the Nordic, DACH and North-European markets.

“The shift in the world economy forces companies to focus on their core activities. Verso has a quick and efficient process to carve out businesses that are not able to grow to their full potential in the current ownership,” says Anssi Kariola, Managing Partner, Verso Capital. “We build new growth companies from non-core businesses working in close co-operation with the current operative management.”

The first investors in Verso Fund III are KRR IIITesi, pension funds IlmarinenVarma and Elo, as well as NokiaValeado AB and Etrisk Oy with a total investment commitment of €66 million. The target size for the fund is €100 million and fundraising will continue until the end of 2020.

Unique investment focus: turning non-core businesses into new growth companies

Verso Fund III acquires businesses that can grow faster as new independent companies. The Verso team has extensive transaction expertise and own methodology to speed up and simplify the carve-out process while reducing carve-out costs. The Verso team then actively supports these new growth companies to achieve international success.

Acquisition and investment targets can include non-core businesses inside larger companies, rearrangement of joint ventures, or any business that is unable to live up to its full potential in the current ownership. For example, businesses, that were transferred to a new owner as part of a larger M&A transaction but do not fully fit the buyer’s strategy, may have a better chance of success as independent companies.

“Not all businesses can be optimally developed inside large organisations. We create new international growth companies by focusing on the needs of the business as an independent company,” says Anssi Kariola, Managing Partner, Verso Capital. ”Our team has experience from more than 100 carve-out transactions, making us an efficient and reliable partner in all possible transaction situations.”

Verso Capital

Verso Capital is a growth stage buyout investor that specializes in carve-out situations. We acquire and invest in European B2B companies and businesses that have good growth potential and revenues up to €50m, but currently are suffering from growth bottlenecks. Our team has experience from over 100 carveout and M&A transactions – we have the necessary know-how and methodology to execute even complicated transactions quickly and efficiently. We are typically a majority investor and spend a considerable amount of our time working together with the management in order to solve growth and profitability bottlenecks. We manage three funds with a total of €126 million in assets under management. Our offices are in Helsinki and Munich.

Contact for more information:
Anssi Kariola

Managing Partner
Verso Capital Oy
+358 50 589 0520
anssi.kariola@versocapital.com

www.versocapital.com

 

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Software and technology investor Fortino Capital is kicking off its second Benelux VC fund

Fortino Capital

targeting early growth companies

ANTWERP, April 10, 2020 – Fortino Capital Partners is raising the successor of its first VC-fund. Fortino Capital Venture II is aiming for a target size of €80 million and will be focussing on promising early stage European software and technology companies with a regional bias to the Benelux. As of today a total of €45 million in commitments have been signed up.

With its second VC fund, Fortino Capital Partners now has three funds in its portfolio.

The first VC fund, Fortino Capital I, with a capital of €80 million, is to date invested in 8  software companies including Teamleader (BE), BuyBay (NL) and Bloomon (NL). The fund is also an investor in Dobco and Riaktr, two companies that are actively involved in the diagnosing and monitoring of Covid-19. The fund has also realized a few important exits: Melita, Trendminer, Zentrick and Piesync, currently a subsidiary of Hubspot.

The second fund, Fortino Capital Growth PE I, is a growth private equity fund with a capital of €242 million targeting larger enterprises and their management, banking on accelerated organic growth. The fund currently supports MobileXpense (BE), Efficy CRM (BE) and Odin Groep (NL).

Fortino Capital Venture II, now its third fund, will continue its predecessor’s strategy and is targeting investments in successful start-up and scale up companies with a focus on software and technology.

Duco Sickinghe, Managing Partner Fortino: We are living through uncertain and tough times and as an investment company we would like to, more than ever, send out a sign of hope and trust to young entrepreneurs. With our new fund we would like to reiterate our trust in entrepreneurs, driving the digitalization of our economy and society. We will use our new capital, our experience and our expertise to boost the success story of early growth companies. We believe in the future and therefore would like to send out this positive signal. We are delighted that many investors follow the same philosophy and have reiterated their trust in Fortino.”

Fortino Capital Venture II is targeting minority participations in successful and ambitious early growth Benelux companies with entry investment tickets ranging from €500,000 to €5 million, and sufficient capacity for successor capital rounds.

Amongst our investors we count many well-known private investors and entrepreneurs as well as strong institutional investors such as PMV and SFPI-FPIM.

Arie Kuipers, CEO Buybay, one of the companies in Fortino’s first VC-fund confirms the importance of a viable investment partner:  “It is comforting in these turbulent times to know that one can count on investors believing in and supporting innovation and leadership. We are getting closer to a post Covid-19 period where innovative entrepreneurs will make the difference in an accelerated digital transformation. The track record of Fortino, the team and their expertise help us to make the difference and privileged partner to turn our strategy into reality.”

About Fortino Capital Partners

Fortino Capital is a leading venture capital and growth private equity firm investing in European software and technology companies with a focus on Benelux. Our mission is supporting ambitious management teams in realising their growth plans.

We invest in early growth (venture capital) and more mature companies (growth capital) for which organic growth is at the hart of their strategy. Fortino has offices in Belgium and the Netherlands. Fortino is currently investor in Odin Groep (NL), MobileXpense (BE), Tenzinger (NL), Teamleader (BE), Bloomon (NL) and Buybay (NL).

www.fortinocapital.com.

 

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EQT sets hard cap for EQT IX at EUR 15 billion

eqt

EQT has today set the hard cap for investor commitments of EUR 15 billion for the EQT IX fund. A hard cap refers to an upper limit on the amount of investor commitments accepted as part of the fund. The actual fund size is dependent on the outcome of the fundraising process.

As previously communicated, the target fund size for EQT IX is EUR 14.75 billion and the fund’s investment strategy and commercial terms are expected to be materially in line with the predecessor fund EQT VIII.

Invitation to telephone conference call on Thursday March 19 at 11.30 CET
EQT invites to a telephone conference on Thursday March 19 at 11.30 CET. At the telephone conference, Christian Sinding, CEO and Managing Partner, Caspar Callerström, COO, and Kim Henriksson, CFO, will give a general update and answer questions, among others, around the COVID-19 pandemic (see letter to EQT’s fund investors on EQT’s website).

Dial-in details: 
PIN:    94153342#
SE       +46 856642651
UK       +44 3333000804
US       +1 6319131422

Webcast URL:
https://edge.media-server.com/mmc/p/zothabsr

Transcript:
Transcript from telephone conference

Contact
Nina Nornholm, Head of Communications, +46 70 855 03 56
Pawel Wyszynski, Shareholder Relations Officer, +46 72 987 36 44
EQT Press Office,press@eqtpartners.com, +46 8 506 55334

The information contained herein does not constitute an offer to sell, nor a solicitation of an offer to buy, any security, and may not be used or relied upon in connection with any offer or solicitation. Any offer or solicitation in respect of EQT IX will be made only through a confidential private placement memorandum and related documents which will be furnished to qualified investors on a confidential basis in accordance with applicable laws and regulations. The information contained herein is not for publication or distribution to persons in the United States of America.  Any securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold without registration thereunder or pursuant to an available exemption therefrom. Any offering of securities to be made in the United States would have to be made by means of an offering document that would be obtainable from the issuer or its agents and would contain detailed information about the issuer of the securities and its management, as well as financial information. The securities may not be offered or sold in the United States absent registration or an exemption from registration.

About EQT
EQT is a differentiated global investment organization with a 25-year track-record of consistent investment performance across multiple geographies, sectors and strategies. With strong values and a distinct corporate culture, EQT manages and advises funds and vehicles that invest across the world with the mission to generate attractive returns to the fund investors.

EQT’s talent base and network allow it to pursue a unique value creation approach and thematic investment strategy, with the aim of future-proofing the companies which EQT invests in, creating superior returns and making a positive impact with everything EQT does.

EQT has more than EUR 62 billion in raised capital since inception, currently around EUR 40 billion in assets under management across 19 active funds within three business segments – Private Capital, Real Assets and Credit. EQT is a thought leader within the private markets industry with deep expertise in responsible and long-term ownership, corporate governance, operational excellence, digitalization and sustainability. EQT has offices in 16 countries across Europe, Asia Pacific and North America with more than 700 employees.

The EQT AB group comprises EQT AB (publ) and its direct and indirect subsidiaries, which includes general partners and fund managers of EQT funds as well as entities advising EQT funds.

More info:www.eqtgroup.com
Follow EQT on:twitter.com and www.linkedin.com

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KKR Announces Intra-Quarter Monetization Activity for the First Quarter

KKR

NEW YORK–(BUSINESS WIRE)– KKR today announced a monetization activity update for the period from January 1, 2020 through March 12, 2020. Based on information available to us as of today, with respect to the period through March 12, 2020, KKR has earned gross realized carried interest and total realized investment income of approximately $490 million. This is driven primarily by strategic and secondary sale transactions that have closed quarter to-date, as well as dividend and interest income from KKR’s balance sheet portfolio.

The estimate disclosed above is not intended to predict or represent the total revenues for the full quarter ending March 31, 2020, because it does not include the results or impact of any other sources of income, including fee income, losses or expenses. This estimate is also not necessarily indicative of the results that may be expected for any other period, including the entire year ending December 31, 2020.

About KKR

KKR is a leading global investment firm that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate and credit, with strategic partners that manage hedge funds. KKR aims to generate attractive investment returns for its fund investors by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation with KKR portfolio companies. KKR invests its own capital alongside the capital it manages for fund investors and provides financing solutions and investment opportunities through its capital markets business. References to KKR’s investments may include the activities of its sponsored funds. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

Forward-Looking Statements

This press release may contain forward-looking statements, including estimated operating results from certain monetization activities. Words such as “expect,” “estimate,” “will,” “may” and “believe” or similar expressions may identify forward-looking statements. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. Certain factors could cause actual results to differ materially from those included in these forward-looking statements, and investors should not place undue reliance on such statements. These forward-looking statements speak only as of the date of this press release, and we do not undertake any obligation to update or revise any of the forward-looking statements to reflect future events or circumstances, except as required by law.

Investor Relations:
Craig Larson, 1-877-610-4910 (U.S.) / 212-230-9410
investor-relations@kkr.com
or
Media:
Kristi Huller, 212-750-8300
media@kkr.com

Source: KKR & Co. Inc.

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EQT opens office in Sydney — further strengthens Asia-Pacific footprint

eqt

  • EQT opens office in Sydney to support accelerated efforts in the Asia-Pacific region, with specific focus on Australia and New Zealand
  • The Sydney office will be led by Ken Wong, Managing Director and Head of EQT Australia & New Zealand, who has been leading coverage efforts from Singapore and will return home to Sydney as part of the office opening
  • EQT currently holds investments in Australian cloud and managed service provider, Nexon Asia Pacific, and has entered into a Scheme Implementation Agreement to acquire 100% of Metlifecare, one of the largest owners and operators of integrated retirement and aged care villages in New Zealand

Sydney, Australia: EQT today announced the opening of an office in Sydney, Australia. The office will be led by Ken Wong, Managing Director and Head of EQT Australia & New Zealand, who was previously based in EQT’s Singapore office and will return home to Sydney as part of the office opening. In alignment with EQT’s local-with-locals approach, the team will seek to find thematic investment opportunities with the support from EQT’s global platform and extensive network.

Ken Wong, Managing Director and Head of EQT Australia & New Zealand commented: “The opening of the Sydney office is a testimony to EQT’s commitment to investing in the region. Australia and New Zealand has an abundance of investment opportunities in EQT’s core sectors, and we have already started to see that EQT’s differentiated approach to active, responsible and growth focused ownership resonate with management teams, founders and corporates.”

Thomas von Koch, Deputy Managing Partner and Chairperson of Asia-Pacific at EQT, commented: “EQT is excited to expand into Australia and New Zealand, markets in which EQT’s Nordic values and unique governance model are well received. EQT has previously had positive experiences from investing in Australia and are encouraged by the recent traction we’re getting in market. We believe that Australia and New Zealand are some of the most interesting markets in the Asia-Pacific region and one where EQT can make a positive impact on portfolio companies as well as local communities. Putting EQT’s flag on the ground in Sydney is part of our global expansion strategy and ambition to establish a local presence across the regions EQT invests in. With a local team in Sydney, EQT is well-positioned to stay close to both its portfolio companies and to capture new investment opportunities in the region.”

EQT made its first investment in Australia in 2014 following EQT Mid Market’s acquisition of I-MED Radiology Network, a leading diagnostic imaging service provider. During EQT’s ownership period, I-MED achieved strong organic growth, established multiple new clinics, entered into new hospital contracts, successfully completed a number of value accretive add-on acquisitions and made significant investments into equipment, new technology and people. The business was divested in 2018.

In July 2019, EQT Mid Market Asia III announced its investment in Nexon Asia Pacific, a cloud and managed service provider who helps clients run more efficiently, create better user experiences and explore bigger opportunities. They are a trusted technology partner for mid-market businesses, government agencies and not-for-profit organizations throughout Australia and the Asia-Pacific region.

In December 2019, EQT Infrastructure IV entered into a Scheme Implementation Agreement to acquire 100% of Metlifecare shares by way of a scheme of arrangement. Metlifecare is a leading New Zealand owner and operator of integrated retirement and aged care villages, providing rewarding lifestyles and outstanding care to more than 5,600 New Zealanders. Established in 1984, the business has a portfolio of 25 villages in areas with strong local economies, supportive demographics and high median house prices, located predominantly in New Zealand’s upper North Island.

Contact
Ken Wong, Managing Director and Head of Australia & New Zealand, +61 2 9052 4852
Roger Newby, Domestique Consulting, roger@domestiqueconsulting.com.au, +61 401 278 906
EQT Press Office, press@eqtpartners.com

Sydney office address:
EQT Partners Australia Pty Ltd
Level 48, 264 George Street
Sydney, NSW 2000
Australia

About EQT
EQT is a differentiated global investment organization with a 25-year track-record of consistent investment performance across multiple geographies, sectors and strategies. With strong values and a distinct corporate culture, EQT manages and advises funds and vehicles that invest across the world with the mission to generate attractive returns to the fund investors.

EQT’s talent base and network allow it to pursue a unique value creation approach and thematic investment strategy, with the aim of future-proofing the companies which EQT invests in, creating superior returns and making a positive impact with everything EQT does.

EQT has more than EUR 62 billion in raised capital since inception, currently around EUR 41 billion in assets under management across 19 active funds within three business segments – Private Capital, Real Assets and Credit. EQT is a thought leader within the private markets industry with deep expertise in responsible and long-term ownership, corporate governance, operational excellence, digitalization and sustainability. EQT has offices in 16 countries across Europe, Asia Pacic and North America with more than 700 employees.

More info: www.eqtgroup.com

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KKR Closes $1.3 Billion Global Impact Fund

KKR

Fund to Invest in Solutions-Oriented Businesses

NEW YORK–(BUSINESS WIRE)–Feb. 12, 2020– KKR, a leading global investment firm, today announced the final closing of KKR Global Impact Fund SCSp (“KKR Global Impact” or the “Fund”), a $1.3 billion fund dedicated to investment opportunities in companies whose core business models provide commercial solutions to an environmental or social challenge.

KKR Global Impact is focused on identifying and investing behind opportunities across the Americas, Europe and Asia where financial performance and societal impact are intrinsically aligned. Specifically, the Fund is focused on generating private equity risk-adjusted returns by investing in companies in the lower middle market that contribute measurable progress toward one or more of the United Nations Sustainable Development Goals (“SDGs”).

“The UN SDGS were developed to mobilize citizens, policymakers, technologists and investors to address global challenges. As investors, we have a significant role to play in building businesses that contribute to SDG solutions while also generating financial returns for our fund investors by doing so,” said Robert Antablin and Ken Mehlman, KKR Partners and Co-Heads of KKR Global Impact.

In particular, KKR has identified the following macro themes where it believes KKR Global Impact can contribute meaningfully to helping achieve the SDGs: Mitigating and adapting to climate change; protecting clean water; learning and workforce development; responsible waste management; leveraging technology to enhance safety, mobility and sustainability; serving globally conscious consumers healthier and more sustainable products and services; and upgrading declining industry and infrastructure.

Over the last decade, KKR has been a leader in driving and protecting value throughout the firm’s private markets portfolio through thoughtful Environmental, Social and Governance (“ESG”) management, as well as measuring and reporting on performance to the public and investors. The firm also has a history of investing in businesses that promote solutions to broader societal challenges, having invested $5.5 billion across 35 companies in solutions-oriented businesses that address policy imperatives including workforce development, green energy, responsible waste management, clean water protection and others.

Building on its track record of responsible investment, KKR launched its global impact business in 2018. Since then, the 12 person global team has executed a number of transactions as part of this, including in Barghest Building Performance (BBP), Ramky Enviro EngineersKnowBe4Burning Glass, and the formation of a wastewater treatment platform.

The Fund received strong backing from a diverse group of new and existing global investors, including public pensions, family offices, high net worth individual investors and other institutional investors. KKR will be investing more than $130 million of capital in the Fund alongside these investors through the Firm’s balance sheet and employee commitments.

“We are thrilled to see our investors’ shared enthusiasm for the tremendous opportunity we see ahead for KKR Global Impact and will build on this to help set the new standard across investing, value creation and measuring success in the space,” said Alisa Amarosa Wood, KKR Partner and Head of KKR’s Private Market Products Group.

About KKR

KKR is a leading global investment firm that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate and credit, with strategic partners that manage hedge funds. KKR aims to generate attractive investment returns for its fund investors by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation with KKR portfolio companies. KKR invests its own capital alongside the capital it manages for fund investors and provides financing solutions and investment opportunities through its capital markets business. References to KKR’s investments may include the activities of its sponsored funds. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

Source: KKR

Media:
Kristi Huller or Cara Major
212.750.8300
Media@KKR.com

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Kinnevik: Year-End Release 2019

Kinnevik

”2019 was characterized by strong performance in our large listed companies and high activity in our portfolio including new and follow-on investments in exciting growth companies. We ended the year with a strong balance sheet providing us with the foundation needed to execute on our strategy”

Georgi Ganev, CEO of Kinnevik

2019: A YEAR OF PIVOTING OUR PORTFOLIO TOWARDS GROWTH

  • Doubled down on our healthcare strategy by investing SEK 2.0bn into Livongo, Babylon, Cedar and VillageMD
  • Built leadership position in Nordic online groceries by investing SEK 1.2bn into MatHem and Kolonial
  • Distributed our entire SEK 16.5bn shareholding in Millicom to our shareholders, corresponding to SEK 60 per share
  • Monetized a 5% stake in Zalando generating gross proceeds of SEK 5.9bn, with our retained shareholding amounting to SEK 30.8bn per end of 2019
  • Amended our shareholder remuneration policy, ceasing to pay ordinary cash dividends in favor of paying out excess capital generated by our investment activities in the form of extraordinary dividends
  • Full-year investments of SEK 4.6bn whereof SEK 1.6bn into two new growth companies and SEK 3.0bn in follow-on investments in the high-performing businesses of our unlisted and early growth portfolio, in line with our capital allocation framework
  • Full-year divestments of SEK 6.2bn, whereof SEK 5.9bn from Zalando and SEK 128m from Westwing

FINANCIAL POSITION

  • Net Asset Value of SEK 73.3bn (SEK 265 per share), down 1% in the quarter and up 31% in 2019, including dividends paid
  • Net debt position of SEK 0.9bn, corresponding to a leverage of 1.3% of Portfolio Value by the end of 2019

ORGANIZATION

  • Kinnevik has appointed Anna Stenberg as Chief People and Platform Officer, a new role in Kinnevik’s management team

A conference call will be held today at 10.00 CET to present the results. The presentation will be held in English and also be made available via audiocast on Kinnevik’s website, www.kinnevik.com.

Link to the audiocast: https://edge.media-server.com/mmc/p/p788udim

Those who wish to participate in the conference call are welcome to dial-in on the below numbers. To ensure that you are connected to the conference call, please dial in and register your attendance a few minutes before the conference call begins.

Dial-in numbers:
UK: +44 3333 000 804
SE: +46 8 566 426 51
US: +1 631 913 1422

Confirmation code: 83196960#

This information is information that Kinnevik AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out below, at 08.00 CET on 6 February 2020.

For further information, visit www.kinnevik.com or contact:

Torun Litzén, Director Corporate Communications

Phone +46 (0)70 762 00 50
Email press@kinnevik.com

Kinnevik is an industry focused investment company with an entrepreneurial spirit. Our purpose is to make people’s lives better by providing more and better choice. In partnership with talented founders and management teams we build challenger businesses that use disruptive technology to address material, everyday consumer needs. As active owners, we believe in delivering both shareholder and social value by building long-term sustainable businesses that contribute positively to society. We invest in Europe, with a focus on the Nordics, the US, and selectively in other markets. Kinnevik was founded in 1936 by the Stenbeck, Klingspor and von Horn families. Kinnevik’s shares are listed on Nasdaq Stockholm’s list for large cap companies under the ticker codes KINV A and KINV B.

 

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Changes in Ratos management group

Ratos

Peter Wallin, CFO of Ratos, will until August 2020 assume the role of Executive Chairman of the Board of the Ratos company HENT. Jonas Ågrup will during the same period work as acting CFO of Ratos. Christian Johansson Gebauer has been appointed new Head of Business Area Construction & Services and Joakim Twetman as new Head of Business Area Industry. Ratos management group which will comprise of:

Jonas Wiström, CEO
Jonas Ågrup, Acting CFO
Helene Gustafsson, Head of IR and Press
Christian Johansson Gebauer, Head of Business Area Construction & Services
Anders Slettengren, Head of Business Area Consumer & Technology
Magnus Stephensen, General Counsel
Joakim Twetman, Head of Business Area Industry

“I’m delighted that Peter Wallin, who brings extensive experience from various positions at Skanska, has agreed to take on the role of Executive Chairman of the Board of the Ratos company HENT. HENT represents a significant part of Ratos net sales. The company has had high growth in recent years but has been forced to make large project write downs in a number of projects which has affected the results during 2018 and 2019. I am convinced that Peter will be an important person in the company’s ongoing work to establish the structure and processes needed for HENT to increase profitability by providing close support to the company’s management,” says Jonas Wiström, CEO of Ratos.

While Peter Wallin serves as Executive Chairman of the Board of HENT, he will be replaced as CFO of Ratos by Jonas Ågrup. Jonas most recently comes from the role of CFO at Munters. Previous positions include, among others, CFO at ÅF.

All the above changes will take effect from 10 February 2020.

For further information, please contact:
Jonas Wiström, CEO, Ratos, +46 8 700 17 00
Helene Gustafsson, Head of IR and Press, Ratos, +46 8 700 17 98

About Ratos:
Ratos is a corporate group consisting of 12 companies divided into three business areas: Consumer & Technology, Construction & Services and Industry. In total, the companies have SEK 38 billion in sales and EBITA of SEK 1.8 billion. Our business concept is to develop medium-sized companies with headquarters in the Nordic region that are or have the potential to become market-leading. We make it possible for independent medium-sized companies to excel by being part of something larger. A focus on people and leadership, culture and values are key components of Ratos. Everything we do is based on our core values: Simplicity, Speed in Execution and It’s All About People.

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