Linden Invests in Alcresta Therapeutics

Linden Capital Partners

Chicago, IL (March 12, 2024) – Linden Capital Partners (“Linden”), a Chicago-based healthcare private equity firm, announced today the completion of its acquisition of Alcresta Therapeutics, Inc. (“Alcresta” or “the Company”), a leader in commercializing novel enzyme-based products designed to address challenges faced by patients living with gastrointestinal disorders and rare diseases.

Alcresta recently announced 510(k) clearance of its next-generation RELiZORB® (iMMOBILIZED LIPASE) cartridge by the Center for Devices and Radiological Health of the U.S. Food and Drug Administration. The next-generation RELiZORB device was developed to address the enteral nutrition needs of a wider population of patients living with rare diseases and is expected to launch in Q2 2024.

Linden Operating Partner Ron Labrum, who is joining Alcresta as Chairman of the Board of Directors, said, “I am very excited to join the Alcresta team to support the continuing growth of the company. Alcresta’s rapid progress has made a meaningful difference for patients living with rare diseases that struggle with fat malabsorption. Linden feels very fortunate to partner with Alcresta as it prepares for new levels of momentum and success in the years ahead.”

Daniel Orlando, CEO of Alcresta, said, “We have been very impressed with Linden’s thoughtful investment approach as we finalize launch plans for the next generation RELiZORB and accelerate R&D efforts for an iteration to treat enterally fed patients in the NICU. We anticipate considerable growth in the years to come and appreciate the added strategic planning and investment experience that Linden brings to Alcresta.”

Piyush Shukla, Partner at Linden and incoming Board member at Alcresta, added, “Linden’s investment in Alcresta is a direct result of our dedicated and longstanding medical devices and specialty pharma sector effort. We have been impressed with the organization and team that Daniel has built and are excited to partner with Alcresta on this next phase of growth.” Linden’s Ernest Waaser and Prab Chawla have also joined the Board of Directors, alongside Alcresta CEO Daniel Orlando.

Kirkland & Ellis LLP and Cain Brothers, a division of KeyBanc Capital Markets, served as legal advisor and financial advisor to Linden, respectively. Wilmer Cutler Pickering Hale and Dorr LLP and Rothschild & Co served as legal advisor and financial advisor to Alcresta, respectively. Twin Brook Capital Partners and MidCap Financial provided debt financing for the transaction.

About Alcresta Therapeutics, Inc.
Alcresta Therapeutics, Inc. is dedicated to developing and commercializing novel, enzyme-based products designed to address challenges faced by patients living with gastrointestinal disorders and rare diseases.  Alcresta currently markets RELiZORB for enterally fed patients with pancreatic insufficiency, which occurs in cystic fibrosis, pancreatic cancer, and pancreatitis, and is developing platform applications for patients with short bowel syndrome (SBS) and prematurely born infants treated in the NICU.  More information can be found at www.alcresta.com.

About Linden Capital Partners
Linden Capital Partners is a Chicago-based private equity firm focused exclusively on the healthcare industry. Founded in 2004, Linden is the country’s largest dedicated healthcare private equity firm by total buyout capital raised. Linden’s strategy is based upon three elements: (i) healthcare specialization, (ii) integrated private equity and operating expertise, and (iii) its differentiated human capital program. Linden invests in middle market platforms in the medical products, specialty distribution, pharmaceutical, and services segments of healthcare. Since its founding, Linden has invested in over 40 healthcare companies encompassing over 325 total transactions. The firm has approximately $8 billion in regulatory assets under management. For more information, please visit www.lindenllc.com.

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DIF Capital Partners sells UK onshore wind farm project to TfL Pension Fund

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DIF

DIF Capital Partners is pleased to announce that DIF Infrastructure IV (DIF IV) has signed an agreement to sell a UK onshore wind farm project to the Transport for London Pension Fund. Closing of the transaction is subject to customary conditions and approvals, and is expected to take place in Q2 2024.

The Wadlow wind farm project, located close to Cambridge, has an installed capacity of 26MW and comprises 13 Vestas V90 2MW turbines. The wind farm has been operational since September 2012 and was acquired by DIF IV in 2016.

Andrew Freeman, Partner and Head of Exits at DIF Capital Partners, said: “We are very pleased with the successful exit of this project. Our proactive approach to divestments helps to deliver attractive risk-adjusted returns for our investors, with this sale further demonstrating the strong track record of our investment strategies.”

“The success of this investment since 2016 demonstrates how financing the energy transition can deliver strong returns for our investors as well as drive the transition to net zero. DIF will be continuing to look for investment opportunities in the UK renewables sector in the coming years.”

DIF IV was advised on the transaction by PKF Francis Clark (financial), Osborne Clarke (legal) and Natural Power (technical).

 

About DIF Capital Partners

DIF Capital Partners is an infrastructure fund manager with more than EUR 17 billion of assets under management. DIF was founded in 2005 and has a leading position in managing mid-market investments, primarily in Europe and North America.

DIF follows two strategies: its traditional DIF funds invest in infrastructure projects and companies in the energy transition (incl. renewables) and utilities sector, as well as concessions. The firm’s CIF funds invest in companies with strong growth potential that are active in infrastructure sectors such as digital infrastructure, energy transition and sustainable transportation.

With a team of over 240 professionals in 11 offices, DIF offers a unique market approach combining global presence with the benefits of strong local networks and investment capabilities. DIF is located in Amsterdam, Frankfurt, Helsinki, London, Luxembourg, Madrid, New York, Paris, Santiago, Sydney and Toronto.

In September 2023, CVC, a leading global private markets manager, announced that it would be acquiring a majority stake in DIF Capital Partners. Closing of the transaction is subject to regulatory approvals and is expected in Q2 2024.

For more information, please visit www.dif.eu or follow us on LinkedIn.

 

Press contact:

DIF Capital Partners: press@dif.eu

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Apollo Names Chris McIntyre Global Head of the Institutional Client Group

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NEW YORK, March 08, 2024 (GLOBE NEWSWIRE) — Apollo Global Management, Inc. (NYSE: APO) today announced the appointment of Chris McIntyre as Partner, Global Head of the Institutional Client Group and member of the firm’s Leadership Team, effective April 15, 2024. Based in New York, he will be responsible for managing the firm’s institutional distribution channel. McIntyre joins a talented team that delivered robust third-party inflows of approximately $45 billion in 2023.

Apollo Co-Presidents Scott Kleinman and Jim Zelter said, “Institutions around the globe have long formed the bedrock of our leading alternative asset management and retirement services businesses. Chris’ deep relationships and private markets expertise will be highly accretive as we continue to offer diversified, tailored investment solutions to our most valued partners. We are excited to welcome Chris to our team.”

McIntyre said, “Apollo is distinguished by its highly sophisticated, aligned, and active approach to partnering with investors and strong track record of innovation across strategies. I look forward to working closely with leaders across the business as we seek to continue delivering excess returns for our clients while also evolving to meet their changing needs.”

McIntyre previously served as Partner and Managing Director at Boston Consulting Group (BCG) where he led the firm’s Asset Management business in North America advising senior leaders from global alternative and traditional asset managers. McIntyre earned his BA from Yale University and MBA from Columbia Business School.

About Apollo

Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade to private equity with a focus on three investing strategies: yield, hybrid, and equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of December 31, 2023, Apollo had approximately $651 billion of assets under management. To learn more, please visit www.apollo.com.

Contacts

Noah Gunn
Global Head of Investor Relations
Apollo Global Management, Inc.
(212) 822-0540
IR@apollo.com

Joanna Rose
Global Head of Corporate Communications
Apollo Global Management, Inc.
(212) 822-0491
Communications@apollo.com

 


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Source: Apollo Global Management, Inc.

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EQT Future holds final close; over EUR 25 billion (USD 27 billion) raised across EQT Private Equity in fundraisings concluded during 2024 to-date

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  • The EQT Future fund closes at EUR 3 billion (USD 3.3 billion) in total fund commitments, with total fee-generating commitments to the strategy, which includes co-investments, totaling EUR 3.6 billion (USD 3.9 billion)
  • This brings the combined final closes by the EQT Private Equity platform in 2024 to more than EUR 25 billion (USD 27 billion) in total commitments, following the EUR 22 billion (USD 24 billion) close of EQT X
  • EQT Future is a private equity strategy that invests in two themes: Climate & Nature and Health & Wellbeing. Its innovative approach enables EQT Private Equity to hold companies for longer, leveraging EQT’s proven active ownership approach and a tailored impact management and measurement toolbox to drive attractive downside protected returns

EQT is pleased to share that EQT Future (or the “Fund”) has held its final close. The Fund raised EUR 3 billion (USD 3.3 billion) in total commitments, with total fee-generating commitments for the overall strategy, including co-investments, totaling EUR 3.6bn (USD 3.9 billion)1. The close brings the combined final closes by the EQT Private Equity platform in 2024 to more than EUR 25 billion (USD 27 billion) in total commitments.

An integrated part of EQT Private Equity, EQT Future backs robust and downside-protected business models in two thematic areas: Climate & Nature and Health & Wellbeing. By adding a tailored impact management and measurement toolbox and having a more flexible investment mandate, it aims to innovate on EQT’s proven approach and create long-term value in its portfolio. The Fund is Article 9 accredited and has innovated around ways to align sustainability with financial returns, linking carried interest to sustainability targets.

The Fund received commitments from investors across the Americas, Asia-Pacific, the Middle East, Europe and the Nordics. It has a diversified investor base, including forward-thinking institutional and private wealth clients, notably family offices, with a greater share of commitments coming from the latter segment compared to the EQT Private Equity flagship funds.

Simon Griffiths, Partner and Head of the EQT Future Advisory team, said: “That EQT has been able to introduce a new strategy and receive strong backing for EQT Future’s attractive downside-protected offering shows that investors are keen to see innovation within private markets. We’ve married EQT’s proven private equity approach with new impact thinking to invest in market leaders that can be grown over the longer term and that can potentially transform whole industries. This differentiates EQT Future from many other impact funds, which typically focus on venture and growth-stage opportunities. We have partnered with three businesses where the founders and management share our vision of driving more sustainable products and services, and the portfolio has already shown its resilience.”

Per Franzén, Head of Private Capital Europe & North America at EQT and Chairman of the EQT Private Equity Investment Committees, including EQT Future, said: “EQT Future is a perfect complement to our Equity strategy. Having a longer-hold mandate makes us an ideal partner to long-term owners, such as industrial families and entrepreneurs. It also enables us to acquire crown jewels and develop them to their fullest potential. As an integrated part of our Private Equity strategy, EQT Future makes us a smarter thematic investor. It enables us to select the right opportunities with a focus on sustainable long-term value creation, and makes us a better partner to our clients.”

The Fund is currently circa 40-45 percent invested across three high-quality, downside-protected companies, which all show strong underlying earnings growth and are realizing their impact potential:

  • Global pest-control service provider Anticimex offers a biocide-free digital solution, paving the way for a sustainable pest control industry and contributing to curbing biodiversity loss
  • Bloom Fresh International develops innovative disease-resistant varieties of fruit, reducing the use of fungicides that have a negative impact on soil health, ecosystems and human health, while increasing the agricultural output and shelf life of the fruits
  • Pioneering autoinjector developer SHL Medical enables advanced drug self-administration for greater patient autonomy, thereby reducing the burden on healthcare systems

Management fees for the Fund are charged on invested capital during its full term. This means that management fees will be charged only as and when investments are made by the Fund. Co-investment figures included are invested capital that is fee and carry-paying.

Contact
EQT Press Office, press@eqtpartners.com, +46 8 506 55 33

About EQT
EQT is a purpose-driven global investment organization focused on active ownership strategies. With a Nordic heritage and a global mindset, EQT has a track record of almost three decades of developing companies across multiple geographies, sectors and strategies. EQT has investment strategies covering all phases of a business’ development, from start-up to maturity. EQT has EUR ‌​​232​‌ billion in total assets under management (EUR ‌​​‌130​‌ billion in fee-generating assets under management), within two business segments – Private Capital and Real Assets.

With its roots in the Wallenberg family’s entrepreneurial mindset and philosophy of long-term ownership, EQT is guided by a set of strong values and a distinct corporate culture. EQT manages and advises funds and vehicles that invest across the world with the mission to future-proof companies, generate attractive returns and make a positive impact with everything EQT does.

The EQT AB Group comprises EQT AB (publ) and its direct and indirect subsidiaries, which include general partners and fund managers of EQT funds as well as entities advising EQT funds. EQT has offices in more than 20 countries across Europe, Asia and the Americas and has more than 1,800 employees.

More info: www.eqtgroup.com
Follow EQT on LinkedIn, X, YouTube and Instagram

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CapMan’s Annual Report for 2023 published

Capman

CapMan has published its Annual Report for 2023 on its website at www.capman.com/annual-report/. The report includes the Report of the Board of Directors, the Group Financial Statements, the Auditor’s Report, the Corporate Governance Statement and the Group Sustainability Report.

CapMan also publishes the Annual Report in accordance with European Single Electronic Format (ESEF) reporting requirements with the format of the report being Extensible Hypertext Markup Language (xHTML). In line with the ESEF requirements, the primary statements have been labelled with XBRL tags and notes have been labelled with XBRL block tags. Ernst & Young, Authorised Public Accountants has provided an independent auditor’s reasonable assurance report on the ESEF Financial Statements. The information has been assured in accordance with the international standard on assurance engagements ISAE 3000. The Annual Report is available in pdf and xHTML formats at www.capman.com/annual-report/ and as attachments to this release.

The sustainability report is prepared in accordance with the GRI Standards and includes material sustainability information for CapMan Group. In addition, the report provides information on sustainability commitments and the progress towards sustainability objectives. CapMan publishes a separate overview on sustainability topics related to its real estate, infrastructure assets and portfolio companies as the information becomes available later in the spring.

The Corporate Governance Statement and Remuneration report have also been published as separate pdf files at www.capman.com/shareholders/governance/ and www.capman.com/shareholders/governance/remuneration/ and as attachments to this release.

CAPMAN PLC

Distribution:
Nasdaq Helsinki
Principal media
www.capman.com

For more information, please contact:
Linda Tierala, Director, IR and Sustainability, +358 40 571 7895, linda.tierala@capman.com

Attachments: 
Annual Report 2023
Financial Statements 2023
Corporate Governance Statement 2023
Remuneration report 2023
Sustainability Report 2023
743700498L5THNQWVL66_2023-12-31-en

About CapMan

CapMan is a leading Nordic private asset expert with an active approach to value creation and over €5 billion in assets under management. Our objective is to provide attractive returns and innovative solutions to investors by enabling change across our portfolio companies. An example of this is greenhouse gas reduction targets that we have set under the Science Based Targets initiative in line with the 1.5°C scenario and our commitment to net-zero GHG emissions by 2040. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover real estate and infrastructure assets, natural capital and minority and majority investments in portfolio companies. We also provide wealth management solutions. Our service business includes procurement services. Altogether, CapMan employs approximately 200 professionals in Helsinki, Jyväskylä, Stockholm, Copenhagen, Oslo, London and Luxembourg. We are listed on Nasdaq Helsinki since 2001. www.capman.com

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DIF Capital Partners raises EUR 6.8 billion for its latest infrastructure funds

DIF

The successful fund raisings for DIF VII and CIF III represent a 50% increase compared to the prior funds.

DIF Capital Partners (DIF), a leading global infrastructure fund manager, is pleased to announce it has raised EUR 6.8 billion for its latest infrastructure funds with final closes across DIF Infrastructure VII (DIF VII) EUR 4.4 billion, DIF Core-Plus Infrastructure Fund III (CIF III) EUR 1.6 billion, and certain Co-investment vehicles EUR 0.8 billion.

DIF experienced strong investor demand from both existing and new institutional investors across the globe, enabling both DIF VII and CIF III to exceed their target fund sizes of EUR 4.0 billion and EUR 1.5 billion respectively. Total commitments for the predecessor funds (DIF VI and CIF II) equaled EUR 3.0 billion and EUR 1.0 billion.

DIF VII targets infrastructure investments, often concession-based or with long-term offtake agreements offering stable and predictable cash flows as well as attractive risk-adjusted returns. Sectors covered are transportation, (renewable) energy, digital infrastructure as well as utilities.

CIF III targets investment opportunities with strong growth potential. It focuses on a broad range of infrastructure sectors including digital infrastructure (specifically datacenters and fibre), energy transition as well as sustainable transportation.

Both fund strategies target a mix of operational and greenfield investments and predominantly focus on Europe and North America.

The funds received commitments from a diverse institutional investor base of more than 110 investors across Europe, the Americas, Asia, and the Middle East, including public and private pension plans, sovereign wealth funds, insurance companies, financial institutions, foundations, and private wealth investors.

Wim Blaasse, CEO at DIF Capital Partners, said: “We are extremely grateful to our investors for their trust and support, and this successful fundraising reinforces DIF’s leading position in the infrastructure market.

In addition, we are excited by the journey ahead as we team up with CVC, and accelerate the growth of our investment capabilities, our geographic reach, and lever the CVC network”.

Gijs Voskuyl, Deputy CEO at DIF Capital Partners, said: “An ever growing demand for infrastructure capital provides an exciting investment opportunity for us, and with our investment track record and experienced teams on the ground across our network of offices in eleven countries, we are confident we can use this capital to take advantage of attractive investment opportunities.”

To date, both funds have invested or committed to nine investments each, thereby deploying around 50% of total commitments. For DIF VII this includes investments in Saur, a global water solutions provider, Fjord1, a Norwegian electric ferry concessions operator and Green Street Power Partners, a US distributed solar developer/IPP. For CIF III this includes investments in metrofibre, a German urban fibre roll-out platform, Tonaquint, a US datacenter platform and Rail First, an Australian rail leasing business.

 

About DIF Capital Partners

DIF Capital Partners is an infrastructure fund manager with more than EUR 17 billion of assets under management. DIF was founded in 2005 and has a leading position in managing mid-market investments, primarily in Europe and North America.

DIF follows two strategies: its traditional DIF funds invest in infrastructure projects and companies in the energy transition (incl. renewables) and utilities sector, as well as concessions. The firm’s CIF funds invest in companies with strong growth potential that are active in infrastructure sectors such as digital infrastructure, energy transition and sustainable transportation.

With a team of over 240 professionals in 11 offices, DIF offers a unique market approach combining global presence with the benefits of strong local networks and investment capabilities. DIF is located in Amsterdam, Frankfurt, Helsinki, London, Luxembourg, Madrid, New York, Paris, Santiago, Sydney and Toronto.

In September 2023, CVC, a leading global private markets manager, announced that it would be acquiring a majority stake in DIF Capital Partners. Closing of the transaction is subject to regulatory approvals and is expected in Q2 2024.

For more information, please visit www.dif.eu or follow us on LinkedIn.

 

Press contact:

DIF Capital Partners: press@dif.eu

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BB Capital takes majority stake in health app VYTAL

BB Capital

THE HAGUE – BB Capital Investments has taken a majority stake in VYTAL, an IT platform specialized in digital total solutions for the sports and health industry. Both parties announced this today. The company from Alphen aan den Rijn will use the investment to expand its unique market position in the Netherlands and Europe.

VYTAL supplies a complete software package to support coaches in their business processes and coaching activities. The company has been active in the growing digital health solutions market since 2019. The nutrition app managed to develop into an innovative platform with a complete offering where users and providers come together. The entire team of ten employees remains active from the head office in Alphen aan den Rijn.

Stephan Laurs, founder and CEO: “With BB Capital on board, we can roll out our strategy to become the all-in-one platform for coaches even more effectively. Our mission is to create a real vitality movement where, on the one hand, we help our users to become and remain vital, while we give our coaches all the tools to support users in this. From business administration to community and marketing support.”

Susan van Koeveringe, Managing Partner BB Capital Investments: “VYTAL has a clear focus on building a digital platform within which all activities for coaches come together. With the knowledge and drive of the VYTAL team, we are working with ambition to offer a total solution in this growing but fragmented market. We are excited to build a strong and innovative company together, both through organic growth and through multiple follow-up acquisitions in the Netherlands and abroad.”

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CapMan Growth establishes its third fund: first closing at €110 million, surpassing target size

Capman

CapMan Growth establishes its third fund: first closing at 110 million, surpassing target size

The CapMan Growth Equity III fund initiates operations and makes its first closing at €110 million, surpassing its target size. The strong interest towards the fund is a testament to the successful growth stories and well-executed exits facilitated by the team. The fund is expected to reach its hard cap at 130 million by the end of April 2024.

At first closing CapMan Growth’s third fund already exceeds the size of the team’s previous fund which closed at €97 million. Since its establishment in 2017 CapMan Growth has raised over €300 million in total for growth investments.

Raising a fund larger than its predecessor in the current market environment clearly shows there is significant interest towards CapMan Growth’s investment strategy. Driving this interest is the team’s strong track-record in supporting multiple growth companies and achieving successful exits of which Picosun and Coronaria are good examples.

CapMan Growth’s strategy is to make active minority investments into entrepreneur-led growth companies, with the aim of further developing them together with the entrepreneurs and the operative management.

CapMan Growth’s investor base consists mainly of reputable Finnish institutional investors and successful Finnish entrepreneurs including several founders of CapMan Growth’s portfolio companies.

”Our investment strategy has gained a lot of interest amongst both owners of growth companies and investors. Many growth entrepreneurs seek an alternative to selling their business and we can support growth while letting entrepreneurs retain control in their company. Investors have also viewed our strategy as an interesting alternative to more traditional private equity funds. A warm thank you for the trust to all our current and new investors”, says Antti Kummu, Managing Partner at CapMan Growth.

CapMan Growth is the leading Finnish growth investor making significant minority investments in entrepreneur-led growth companies with revenues ranging between €10–200 million euros. We offer entrepreneurs an alternative to selling the majority of their business by facilitating a partial exit while also supporting growth and internationalisation. We have been part of building companies such as Coronaria, Cloud2, Digital Workforce, Fennoa, Fluido, Neural DSP, Picosun, Sofigate, Silmäasema and Unikie.

For more information:

Antti Kummu, Managing Partner, CapMan Growth, +358 50 432 4486

About CapMan

CapMan is a leading Nordic private asset expert with an active approach to value creation and over €5 billion in assets under management. Our objective is to provide attractive returns and innovative solutions to investors by enabling change across our portfolio companies. An example of this is greenhouse gas reduction targets that we have set under the Science Based Targets initiative in line with the 1.5°C scenario and our commitment to net-zero GHG emissions by 2040. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover real estate and infrastructure assets, natural capital and minority and majority investments in portfolio companies. We also provide wealth management solutions. Our service business includes procurement services. Altogether, CapMan employs around 200 professionals in Helsinki, Jyväskylä, Stockholm, Copenhagen, Oslo, London and Luxembourg. We are listed on Nasdaq Helsinki since 2001. www.capman.com

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CapMan and PwC join forces for the benefit of children and youth

Capman

CapMan and PwC join forces for the benefit of children and youth

CapMan and PwC join forces by launching a charity campaign for the benefit of the Tukikummit foundation in support of children and youth. The goal is to raise more than EUR 100,000 during this spring for the benefit of the Tukikummit foundation, and as the campaign continues, also challenge other companies to join. ”We want to multiply the amount collected annually for the benefit of youth and children over the long term,” states Joakim Frimodig, Chair of the Board of CapMan and the Tukikummit foundation.

The campaign, named #Steps4Tukikummit, combines the desire to do good with supporting a sense of community and the well-being of the personnel: the companies challenge their employees to walk and run together and with clients in order to grow the distance that charitable contributions will be based on. For every kilometre walked or ran, EUR 4 will be put forth towards the Tukikummit foundation by CapMan and PwC. The challenge lasts from March to the beginning of May 2024, culminating at the Helsinki City Running Day running event in May.

CapMan has been involved in fundraising for the Tukikummit foundation since 2014. In 2023, CapMan took an even more active role in the foundation’s operations by providing Tukikummit with resources and expertise and covering its operating expenses, with the goal of revitalising the foundation’s activities and continuing its work for good by significantly growing its brand awareness and fundraising.

“For us as a company it’s important to be able to provide direct help to those in need. The Tukikummit foundation has been a central way for us to provide support, and over the past few years, we have focused nearly all our charity work, towards the foundation, raising hundreds of thousands of euros for its charitable activities. We are thrilled with PwC’s decision to join us in developing this campaign we are now launching, and which we hope will be a significant initial boost for expanding the charitable operations of the Tukikummit foundation,” shares Joakim Frimodig, Chair of the Board of CapMan and the Tukikummit foundation.

“The desire to help children and youth in need has emerged as a top wish when we have asked our personnel about their preferred charitable causes. Through Tukikummit, we can be involved in supporting the goal that all children and young people should have the opportunity to engage in hobbies,” summarizes Kauko Storbacka, CEO of PwC Finland.

“In addition to doing good, we want to create more opportunities for our employees to come together and to exercise. Supporting a sense of community is especially important in the years post pandemic, and physical activity is an essential factor in enhancing well-being. The initial comments from our personnel have been encouraging. I believe and hope that as many as possible will be motivated to move for a good cause,” Storbacka continues.

PwC’s and CapMan’s common goal, is to grow the fundraising for the Tukikummit foundation into a long-term campaign and cooperation.

”The marginalisation of youth is a growing problem. Hobbies are a great way for a young person to experience purpose and connection with others. However, not everyone has equal opportunities to take part in hobbies, and this increases inequality between families. I am proud of this campaign kickstarted by PwC and CapMan, which I believe is a significant first step on our path towards a world where every young person is able to realise themselves and live a full life regardless of their financial situation and social status”, rejoices Maija Ilmoniemi, Managing Director at the Tukikummit foundation.

The Tukikummit foundation was established in 2007 from the common concern of the former President of the Republic of Finland Sauli Niinistö and Finnish business leaders Sari Baldauf, Björn Wahlroos and Hjallis Harkimo for young people at risk of marginalisation. It distributes subsidies for disadvantaged children and youth, especially to cover hobby costs and supporting studies.

For more information, please contact:

Joakim Frimodig, Chair of the Board, CapMan, Chair of the Board, Tukikummit foundation, +358 50 529 0665, joakim.frimodig@capman.com

Kauko Storbacka, CEO, PwC Finland, +358 50 331 2336, kauko.storbacka@pwc.com

Maija Ilmoniemi, Managing Director, Tukikummit foundation, +358 40 5133781, maija.ilmoniemi@tukikummit.fi

About CapMan

CapMan is a leading Nordic private asset expert with an active approach to value creation. As one of the private equity pioneers in the Nordics we have built value in unlisted businesses, real estate, and infrastructure for over three decades. With approx. €5 billion in assets under management, our objective is to provide attractive returns and innovative solutions to investors. An example of this is greenhouse gas reduction targets that we have set under the Science Based Targets initiative in line with the 1.5°C scenario. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover minority and majority investments in portfolio companies and real estate, and infrastructure assets. We also provide wealth management solutions. Our service business includes procurement services. Altogether, CapMan employs approximately 180 professionals in Helsinki, Stockholm, Copenhagen, Oslo, London, Luxembourg and Jyväskylä. We are listed on Nasdaq Helsinki since 2001. Learn more at www.capman.com.  

About PwC

PwC’s purpose is to build trust in society and solve important problems. We help companies to improve their efficiency, promote growth and to report reliably in a constantly changing environment. Our services include consulting, deals, tax, legal, risk assurance, audit and other assurance services. PwC operates in 155 countries and in Finland, we have 1 350 experts working around the country. More information: www.pwc.fi/en.

About Tukikummit foundation

The Tukikummit Foundation was born in 2007 from the common concern of Sauli Niinistö, Sari Baldauf, Björn Wahlroos and Hjallis Harkimo for young people at risk of marginalisation. The foundation donates funds to children and youth in need of support for hobby activities and school attendance. CapMan Plc has focused its charitable donations to Tukikummit for already eight years’ time. In 2023 it took an even stronger role in the foundation by starting to fund its operational activities with the target of significantly growing the amount of donations collected and those receiving support. Learn more at: https://tukikummit.fi/in-english/

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The Board of Directors of CapMan has decided on a directed issue to complete the acquisition of Dasos Capital Oy

Capman

he Board of Directors of CapMan has decided on a directed issue to complete the acquisition of Dasos Capital Oy

CapMan Plc (“CapMan”) announced on 21 December 2023 the acquisition of Dasos Capital Oy (“Dasos”), an asset management company focusing on sustainable timberland investment, through a share exchange. CapMan has received all regulatory approvals for the acquisition and all other closing conditions have been fulfilled, and the acquisition has been completed today (the “Closing”).

The Board of Directors of CapMan has today resolved on a directed issue of new CapMan shares for the purposes of the payment of the consideration to the sellers of Dasos (the “Sellers”).

“I’m pleased to welcome Dasos as part of CapMan. The inclusion of sustainable timberland and natural capital investing positions CapMan as a leader in unlisted real asset strategies in the Nordics. Together, we can scale and expand Dasos’ existing offering and pursue growth opportunities in sustainable investment. Dasos will form the core of the new CapMan Natural Capital investment area, led by Dasos’ Senior Partner Olli Haltia, who will join CapMan’s Management Group. As we join forces, we create value for fund investors and shareholders and further CapMan’s vision of becoming the most responsible private assets company in the Nordics,” says Pia Kåll, CapMan’s CEO.

Directed issue of 17,672,761 new CapMan shares as consideration to the Sellers

The equity price for Dasos’ shares is paid in shares of CapMan by a directed share issue and a cash consideration of MEUR 3.2.  The Board of Directors resolved today on a directed issue of 17,672,761 new shares in CapMan for the Sellers (“Share Issue”) based on the authorisation given by the General Meeting on 18 January 2024. The subscription price per share, payable as contribution in kind, is EUR 2,0938 determined in accordance with the terms and conditions of the acquisition by the 30-day volume weighted average share price of CapMan prior to the signing of the acquisition. As the Share Issue is carried out to complete the acquisition, there is a weighty financial reason for directing the Share Issue. In addition, CapMan has committed to paying an additional earn-out consideration of a maximum EUR 5 million based on management fee turnover incurred in 2025 and 2026, payable when the management fees of the funds managed by Dasos exceed certain limits. The additional consideration will be paid later in 2026 and 2027 in CapMan’s shares.

The shares issued and subscribed for in the Share Issue represent in aggregate approximately a 10.0% ownership in CapMan after the registration the new shares. Following the Share Issue, the number of CapMan shares totals 176,522,148.  The share capital of CapMan is increased by EUR 37,003,226.98 in connection with the registration of the Share Issue.

The sellers that are actively participating in Dasos’ investment activities have committed to a 36-month transfer restriction starting from the Closing of the shares received from CapMan as consideration in connection with the Closing. The transfer restriction will be gradually lifted so that 90 per cent of these sellers’ shares will be subject to the transfer restriction at the time of the Closing and the amount will reduce annually so that the remaining 70% will be released after the third year. Shares used for paying the additional earn-out consideration are subject to a transfer restriction for a period of 12 months from their issuance. The sellers committed to the transfer restriction account for approximately 69.65% of the total purchase price.

Following the Closing, CapMan will hold 100% of the votes in Dasos. Sellers retain rights to the carried interest income of existing funds under Dasos by retaining certain non-voting shares in Dasos.

The new shares are intended to be registered at the Finnish Trade Register on or about 1 March 2024. Trading in the new shares on the official list of Nasdaq Helsinki Ltd is expected to commence on or about 4 March 2024.

CAPMAN PLC
Board of Directors

DISTRIBUTION
Nasdaq Helsinki
Principal media
www.capman.com

Contact details:
Pia Kåll, CEO, CapMan Plc, tel: +358 40 766 4446
Linda Tierala, Director, IR & Sustainability, CapMan Plc, tel: +358 40 571 7895, email: linda.tierala@capman.com

About CapMan
CapMan is a leading Nordic private asset expert with an active approach to value creation. As one of the private equity pioneers in the Nordics, it has built value in unlisted businesses, real estate, and infrastructure for over three decades. With approx. EUR 5 billion in assets under its management, its objective is to provide attractive returns and innovative solutions to investors. An example of this are the greenhouse gas reduction targets that it has set under the Science Based Targets initiative in line with the 1.5°C scenario as well as a commitment to net zero GHG emissions by 2040. It has a broad presence in the unlisted market through its local and specialised teams. Its investment strategies cover minority and majority investments in portfolio companies and real estate, as well as infrastructure assets. It also provides wealth management solutions. Its service business includes procurement services. Altogether, CapMan employs approximately 180 professionals in Helsinki, Stockholm, Copenhagen, Oslo, London, Luxembourg and Jyväskylä. It has been listed on Nasdaq Helsinki since 2001. Learn more at www.capman.com. 

Categories: News