Category Archives: News

KKR Sells Five UK Student Accommodation Assets For £291m

KKR
February 18, 2021

Under KKR’s ownership, the assets have been developed to meet growing demand for high-quality student accommodation in an underserved market

LONDON–(BUSINESS WIRE)– KKR, a leading global investment firm, today announced the sale of five major student housing developments across the UK to Greystar Real Estate Partners LLC, a global leader in the investment, development, and management of high-quality rental housing, for £291m.

The five Purpose Build Student Accommodation (PBSA) developments comprise a total of 2,163 units situated in London, Glasgow, Coventry and Bristol, four cities renowned for their higher education institutions. Four of the assets are operational for the 2020/21 academic year, while the asset in Bristol is under construction and due for occupancy in September 2021.

KKR acquired the five PBSA sites in 2018 to develop high-quality, professionally managed accommodation to meet structurally growing demand in a market which continues to be underserved by quality options for student housing. The UK remains one of the leading global destinations for higher education with the benefit of top-ranking universities, with strong forecast growth trends in the university-age demographic in the UK, supported by ongoing demand from international students.

KKR worked closely with Nido Student as operator of the sites to provide best-in-class property management services, having successfully collaborated on student accommodation developments in the Netherlands. The UK sites benefited from Nido’s wealth of experience in thoughtful and innovative design, providing a tailored service from development to operations focused on well-being and student experience.

Seb D’Avanzo, Managing Director in European Real Estate at KKR, said: “These assets have helped to address the growing demand for high-quality accommodation across university hubs in the UK that provide a focus on wellbeing and community for students. We continue to see the UK as a strategically significant market for PBSA, with strong projected demand, and will continue to assess future opportunities to acquire and develop quality assets.”

-ends-

About KKR

KKR is a leading global investment firm that offers alternative asset management and capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of The Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

Media Contacts
Alastair Elwen / Alice Neave
Finsbury
+44 (0)20 7251 3801
kkr@finsbury.com

Source: KKR

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KKR to Acquire Flow Control Group from Bertram Capital

KKR

February 17, 2021

All Employees to Become Owners in Company

NEW YORK–(BUSINESS WIRE)– KKR, a leading global investment firm, today announced it has entered into an agreement to acquire Flow Control Group, a leading distributor of mission-critical flow control and industrial automation products, from Bertram Capital.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210217005319/en/

Headquartered in Charlotte, North Carolina, Flow Control Group serves as a trusted, value-added distributor and advisor to more than 10,000 customers and 2,000 suppliers in North America for technical flow control and industrial automation products and related services. Customers rely on Flow Control Group for their engineering expertise, technical support, and service capabilities for high value products including air equipment, pumps, valves, process control, and industrial automation, amongst other product categories.

“Flow Control Group stands out for their proven ability to be a strategic partner and consultative, technical resource for customers’ critical flow control and industrial automation product needs,” said Josh Weisenbeck, KKR Partner who leads KKR’s Industrials investment team. “We are excited to work together with David Patterson and the entire team at Flow Control Group to further expand the company’s reach, while remaining an excellent partner to their OEM suppliers and continuing to be a value-added team member for their customers.”

Since 2011, KKR’s Industrials team has focused on employee engagement as a key driver in building stronger businesses. The strategy’s cornerstone has been to allow all employees to take part in the benefits of ownership by granting them the opportunity to participate in the equity return alongside KKR. Beyond sharing ownership, KKR also supports employee engagement by investing in training across multiple functional areas and by partnering with the workforce to give back to the community.

Pete Stavros, KKR Partner and Co-Head of Americas Private Equity at KKR, said, “For over a decade, we have been developing a new model of employee engagement centered around an all employee ownership strategy, and we look forward to implementing this model at Flow Control Group alongside David Patterson and his team.”

“We are thrilled to have the support of KKR as we continue to grow our reach across the flow control and industrial automation sectors while investing to better serve our customers and supplier partners,” said David Patterson, CEO of Flow Control Group.

“We are fortunate to have had the opportunity to partner with Flow Control Group, under the exceptional leadership of CEO David Patterson, to achieve our shared vision of creating a leading independent player in the industry,” said Kevin Yamashita, Partner at Bertram Capital. “Working closely with the Flow Control Group team, we exceeded our growth plan through strategic add-on acquisitions, organic growth initiatives, the addition of key executive talent, and operational improvement.”

Bertram’s value creation strategy, the Bertram High 5sm, coupled with the firm’s in-house IT team, Bertram Labs, were critical drivers to the rapid growth and platform expansion realized by Flow Control Group during Bertram’s ownership.

R.W. Baird and Hirschler served as advisors to Bertram Capital on the transaction, while Kirkland & Ellis and Deloitte served as advisors to KKR.

KKR is making the investment through its Americas XII Fund. Further terms were not disclosed.

About Flow Control Group

Flow Control Group is a leading solutions provider focused on technically oriented products and services for the flow control, fluid handling and process & industrial automation sectors with locations throughout the U.S. and Canada. As a critical intermediary between over 2,000 suppliers and 10,000 customers, Flow Control Group’s distribution and technical services serve an essential function in the movement of mission critical components to a diverse array of end markets and applications.

About KKR

KKR is a leading global investment firm that offers alternative asset management and capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of The Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

About Bertram Capital

Bertram Capital is a private equity firm targeting investments in lower middle market companies. Since its inception in 2006, the firm has raised over $1.9B of capital commitments. In addition to supplying strategic growth capital, Bertram Capital leverages proprietary processes and services, Bertram High-5sm and Bertram Labs, to empower its portfolio companies to unlock their full business potential. The Bertram High-5sm is an operationally-focused value creation strategy, which includes management augmentation, operational initiative implementation, complementary business acquisition, sales and marketing improvements, and leveraging technology and IP. The cornerstone of this strategy is Bertram Labs, its in-house technology team, which drives growth and value through digital marketing, e-commerce, big data and analytics, application development, and internal and external platform optimization. Visit www.bcap.com for more information.

Media:
For KKR:
Cara Major or Miles Radcliffe-Trenner
media@kkr.com

For Bertram Capital:
David Hellier
pr@bcap.com

Source: KKR

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IK Investment Partners to sell SCHOCK to Triton

ik-investment-partners

IK Investment Partners (“IK”) is pleased to announce that the IK VIII Fund has reached an agreement to sell its stake in SCHOCK GmbH (“SCHOCK” or “the Company”) to the Triton Fund V advised by Triton (“Triton”). Financial terms of the transaction are not disclosed.

SCHOCK has a leading global market position in the design and production of premium quality quartz composite kitchen sinks with a diverse customer base consisting of more than 2,000 clients in over 70 countries. The Company is known for its innovative, high-quality products and has a strong focus on sustainability underlined by the recently introduced Green Line, with sinks made up of over 99% natural, renewable or recycled raw materials. Besides the broad offering of kitchen sinks including over 200 models in 40 different colours, SCHOCK also offers faucets, shower trays and related accessories. Based in Regen, Bavaria, the company employs over 500 people and produces exclusively in Germany.

During IK’s ownership, SCHOCK pursued a successful strategy of new client wins, internationalisation and continuous product innovation. Since 2016, the Company has exhibited significant organic growth and more than doubled its operating profit whilst investing significant resources into production capacity expansion, operational efficiency, and product development.

Under the terms of the transaction, IK will be selling its stake to Triton, who will partner with the management team led by Ralf Boberg to develop the company further.

Ralf Boberg, CEO of SCHOCK, said: “We are very grateful to the IK team for their help and support over the last four years. During this time, we have invested in our innovative and sustainable product range, as well as enhanced our brand and reputation in the market for high-quality, durable and stylish sinks. We are looking forward to collaborating with Triton to build on this foundation and continue our trajectory of growth.”

Mirko Jablonsky, Partner at IK and advisor to the IK VIII Fund said: “It has been a real privilege to partner with SCHOCK, a market-leader in an attractive segment of the kitchen industry. The uncompromising focus on quality and undisputed ability to innovate and set new technological standards are the features that enable the Company to attract new customers and expand its product range and market footprint. We wish Ralf and the team every success with their new investors.”

Ruth Linz, Co-Head Consumer at Triton, said: “We are excited to invest in SCHOCK for the next stage of the Company’s development. It is not often that an opportunity arises where we are able to partner with such a strong brand with significant future growth potential, especially in the US and through targeted M&A. We look forward to working with SCHOCK to take it to the next level of growth.”

For further questions, please contact:

IK Investment Partners

Maitland/AMO
James McFarlane
Phone: +44 (0) 7584 142 665
jmcfarlane@maitland.co.uk

About IK Investment Partners

IK Investment Partners (“IK”) is a Pan-European private equity firm focused on investments in the Benelux, DACH, France, Nordics and the UK. Since 1989, IK has raised more than €13 billion of capital and invested in over 145 European companies. IK supports companies with strong underlying potential, partnering with management teams and investors to create robust, well-positioned businesses with excellent long-term prospects. For more information, visit www.ikinvest.com

About Triton

Since its establishment in 1997, Triton has sponsored nine funds, focusing on businesses in the industrial, business services, consumer and health sectors. The Triton funds invest in and support the positive development of medium-sized businesses headquartered in Europe.
Triton seeks to contribute to the building of better businesses for the longer term. Triton and its executives wish to be agents of positive change towards sustainable operational improvements and growth.

The 45 companies currently in Triton’s portfolio have combined sales of around €18.2 billion and around 100,800 employees.

For further information: https://www.triton-partners.com/

About SCHOCK

SCHOCK is the inventor of the manufacturing technology commonly used in the production of quartz composite sinks and has been the worldwide technology and quality leader in this field for over 40 years. The combination of quartz with top-quality acrylic forms a premium compound product that is three times as hard as natural granite and is also superior in terms of many product characteristics to kitchen sinks made from other materials). The SCHOCK range of products comprises sinks for every conceivable kitchen style and taste. Customers in over 70 countries rely on SCHOCK products manufactured exclusively at the company’s headquarters in the Bavarian Forest. For more information, visit www.schock.de/en

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iM Global Partner enters a new phase in its development, welcoming two new investors, IK Investment Partners and Luxempart, alongside Eurazeo and Amundi

Eurazeo has sold part of its stake in iM Global Partner to IK Investment Partners and Luxempart, subject to the approval of the French Autorité des Marchés Financiers and the Commission de Surveillance du Secteur Financier.

This comes after iM Global Partner, a global network dedicated to asset management, increased its assets under management by 65% – of which 46% was organic growth – to more than $19bn in the year to end December 2020. With the support of Eurazeo and Amundi, which have supported Philippe Couvrecelle and the management team since the Company’s inception, iM Global Partner has become a major international asset management network in just a few years.

The addition of IK Investment Partners and Luxempart as shareholders marks an important step in the development of the Company. Their support strengthens iM Global Partner’s development potential and will accelerate its growth for years to come. iM Global Partner’s strategy is to continue to invest, both organically and through external growth, to further develop the Company with the aim of exceeding $100bn in assets under management within five to seven years.

Following the transaction, Eurazeo, as a controlling shareholder, will continue to actively support the Company alongside shareholders IK Investment Partners, Luxempart and Amundi. Proceeds from the disposals relating to this transaction of 20% of the capital represent about €70m for Eurazeo – a cash-on-cash multiple of 2.1x and an internal rate of return of 22%. Dassault/La Maison, a shareholder from the outset, is selling its stake at the time of this transaction.

Philippe Couvrecelle, CEO and founder of iM Global Partner, states: “We are pleased to welcome IK Investment Partners and Luxempart alongside Eurazeo and Amundi, which have been accompanying and supporting us since the beginning of this great adventure. Together, we will continue to develop our unique asset management model and further accelerate the growth of our activities worldwide.”

Marc Frappier, Managing Partner of Eurazeo and Head of Eurazeo Capital, says: “Our strong belief in the growth of the asset management profession, coupled with the talent and the vision of Philippe Couvrecelle, led us to support the development of an innovative network bringing together the best managers worldwide and leading distribution capacities.”

Thomas Grob, Partner at IK Investment Partners and advisor to the IK Partnership Fund, adds: “We were impressed by the growth trajectory, quality of the teams, international nature and development project of iM Global Partner. We are pleased and proud to have won the trust of Philippe Couvrecelle, Eurazeo and Amundi to join them in contributing to the Company’s growth story.”

Olaf Kordes, Managing Director of Luxempart, says: “We are very pleased to be able to join the group of iM Global Partner’s shareholders. We have been convinced by the quality and vision of the management team. We are very keen to continue supporting the development of this leading player with significant international ambitions. This operation is perfectly in line with Luxempart’s revised strategy, which aims to support first-rate management teams in their development projects over the long term.”

For further questions, please contact:

IK Investment Partners

Maitland/AMO
James McFarlane
Phone: +44 (0) 7584 142 665
jmcfarlane@maitland.co.uk

iM Global Partner

KL Communications
Camilla Esmund
Phone: +44 (0) 203 995 6678
imgp@kl-communications.com

Eurazeo

MAITLAND/AMO
David Sturken
Phone: +44 (0)7990 595 913
dsturken@maitland.co.uk

Luxempart

Olaf Kordes
Phone: +352 691 306 540
olaf.kordes@luxempart.lu

About IK Investment Partners

IK Investment Partners (“IK”) is a Pan-European private equity firm focused on investments in the Benelux, DACH, France, Nordics and the UK. Since 1989, IK has raised more than €13 billion of capital and invested in 145 European companies. IK supports companies with strong underlying potential, partnering with management teams and investors to create robust, well-positioned businesses with excellent long-term prospects. For more information, visit www.ikinvest.com

About iM Global Partner

iM Global Partner is a worldwide asset management network dedicated to asset management. It selects and builds long-term partnerships with talented and independent asset management companies through direct capital ownership.

iM Global Partner is present in 11 locations across Europe and the United States and provides its clients with access to the best management strategies of its Partners. iM Global Partner’s wide range of investment solutions thus includes the OYSTER range, a Luxembourg SICAV, but also Mutual Funds and ETFs dedicated to US investors.

iM Global Partner represents over 19 billion USD of assets under management as at December 2020.

www.imgp.com

About Eurazeo

Eurazeo is a leading global investment company, with a diversified portfolio of €18.8 billion in assets under management, including 13.3 billion EUR from third parties, invested in over 430 companies. With its considerable private equity, real estate and private debt expertise, Eurazeo accompanies companies of all sizes, supporting their development through the commitment of its nearly 300 professionals and by offering in-depth 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.

Eurazeo has offices in Paris, New York, Sao Paulo, Seoul, Shanghai, Singapore, London, Luxembourg, Frankfurt, Berlin and Madrid.

Eurazeo is listed on Euronext Paris.

www.eurazeo.com

About Amundi

Amundi, the leading European asset manager, ranking among the top 10 global players, offers its 100 million clients – retail, institutional and corporate – a complete range of savings and investment solutions in active and passive management, in traditional or real assets.

With its six international investment hubs, financial and extra-financial research capabilities and long-standing commitment to responsible investment, Amundi is a key player in the asset management landscape.

Amundi clients benefit from the expertise and advice of 4,700 employees in more than 35 countries. A subsidiary of the Crédit Agricole group and listed on the stock exchange, Amundi currently manages more than €1.700 trillion of assets.

Amundi, a trusted partner, working every day in the interest of its clients and society.

www.amundi.com 

About Luxempart

Luxempart is a listed investment company with net assets of approximately 1.6 billion EUR, backed by Luxembourgish entrepreneurial families. With its permanent capital and professional investment team, Luxempart provides flexible and long-term financing solutions to entrepreneurs, families and dynamic management teams and supports them in their growth and international development. Luxempart’s objective is to invest between 30M EUR and 100M EUR in companies based in Luxembourg, Belgium, France or German-speaking Europe. www.luxempart.lu

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iM Global Partner enters a new phase in its development, welcoming two new investors, IK Investment Partners and Luxempart, alongside Eurazeo and Amundi

Eurazeo

Paris, February 18, 2021 – Eurazeo has sold part of its stake in iM Global Partner to IK Investment Partners and Luxempart, subject to the approval of the French Autorité des Marchés Financiers and the Commission de Surveillance du Secteur Financier.
This comes after iM Global Partner, a global network dedicated to asset management, increased its assets under management by 65% – of which 46% was organic growth – to more than $19bn in the year to end December 2020. With the support of Eurazeo and Amundi, which have supported Philippe Couvrecelle and the management team since the company’s inception, iM Global Partner has become a major international asset management network in just a few years.

The addition of IK Investment Partners and Luxempart as shareholders marks an important step in the development of the company. Their support strengthens iM Global Partner’s development potential and will accelerate its growth for years to come. iM Global Partner’s strategy is to continue to invest, both organically and through external growth, to further develop the company with the aim of exceeding $100bn in assets under management within five to seven years.

Following the transaction, Eurazeo, as a controlling shareholder, will continue to actively support the company alongside shareholders IK Investment Partners, Luxempart and Amundi. Proceeds from the disposals relating to this transaction of 20% of the capital represent about €70m for Eurazeo – a cash-on-cash multiple of 2.1x and an internal rate of return of 22%. Dassault/La Maison, a shareholder from the outset, is selling its stake at the time of this transaction.

Philippe Couvrecelle, CEO and founder of iM Global Partner, states: “We are pleased to welcome IK Investment Partners and Luxempart alongside Eurazeo and Amundi, which have been accompanying and supporting us since the beginning of this great adventure. Together, we will continue to develop our unique asset management model and further accelerate the growth of our activities worldwide.”
Marc Frappier, Managing Partner of Eurazeo and Head of Eurazeo Capital, says: “Our strong belief in the growth of the asset management profession, coupled with the talent and the vision of Philippe Couvrecelle, led us to support the development of an innovative network bringing together the best managers worldwide and leading distribution capacities.”
Thomas Grob, Partner at IK Investment Partners, adds: “We were impressed by the growth trajectory, quality of the teams, international nature and development project of iM Global Partner. We are pleased and proud to have won the trust of Philippe Couvrecelle, Eurazeo and Amundi to join them in contributing to the company’s growth story.”
Olaf Kordes, Managing Director of Luxempart, says: “We are very pleased to be able to join the group of iM Global Partner’s shareholders. We have been convinced by the quality and vision of the management team. We are very keen to continue supporting the development of this leading player with significant international ambitions. This operation is perfectly in line with Luxempart’s revised strategy, which aims to support first-rate management teams in their development projects over the long term.”

About iM Global Partner
iM Global Partner is a worldwide asset management network dedicated to asset management. It selects and builds long-term partnerships with talented and independent asset management companies through direct capital ownership.
iM Global Partner is present in 11 locations across Europe and the United States and provides its clients with access to the best management strategies of its Partners. iM Global Partner’s wide range of investment solutions thus includes the OYSTER range, a Luxembourg SICAV, but also Mutual Funds and ETFs dedicated to US investors.
iM Global Partner represents over 19 billion USD of assets under management as at December 2020.
www.imgp.com

About Eurazeo
Eurazeo is a leading global investment company, with a diversified portfolio of €18.8 billion in assets under management, including 13.3 billion EUR from third parties, invested in over 430 companies. With its considerable private equity, real estate and private debt expertise, Eurazeo accompanies companies of all sizes, supporting their development through the commitment of its nearly 300 professionals and by offering in-depth 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.
Eurazeo has offices in Paris, New York, Sao Paulo, Seoul, Shanghai, Singapore, London, Luxembourg, Frankfurt, Berlin and Madrid.
Eurazeo is listed on Euronext Paris.
www.eurazeo.com

About Amundi
Amundi, the leading European asset manager, ranking among the top 10 global players1, offers its 100 million clients – retail, institutional and corporate – a complete range of savings and investment solutions in active and passive management, in traditional or real assets.
With its six international investment hubs2, financial and extra-financial research capabilities and long-standing commitment to responsible investment, Amundi is a key player in the asset management landscape.
Amundi clients benefit from the expertise and advice of 4,700 employees in more than 35 countries. A subsidiary of the Crédit Agricole group and listed on the stock exchange, Amundi currently manages more than €1.700 trillion of assets3.
Amundi, a trusted partner, working every day in the interest of its clients and society.
www.amundi.com
1Source: IPE “Top 500 Asset Managers” published in June 2020, based on assets under management as at 31/12/2019
2Boston, Dublin, London, Milan, Paris and Tokyo
3Amundi data as of 31/12/2020

About IK Investment Partners
IK Investment Partners (“IK”) is a Pan-European private equity firm focused on investments in the Benelux, DACH, France, Nordics and the UK. Since 1989, IK has raised more than €13 billion of capital and invested in 145 European companies. IK supports companies with strong underlying potential, partnering with management teams and investors to create robust, well-positioned businesses with excellent long-term prospects.
For more information, visit www.ikinvest.com

About Luxempart
Luxempart is a listed investment company with net assets of approximately 1.6 billion EUR, backed by Luxembourgish entrepreneurial families. With its permanent capital and professional investment team, Luxempart provides flexible and long-term financing solutions to entrepreneurs, families and dynamic management teams and supports them in their growth and international development. Luxempart’s objective is to invest between 30M EUR and 100M EUR in companies based in Luxembourg, Belgium, France or German-speaking Europe.
www.luxempart.lu

Press Contacts
iM Global Partner
KL Communications – Camilla Esmund
imgp@kl-communications.com / +44 (0) 203 995 6678
Eurazeo
MAITLAND/AMO – David Sturken
dsturken@maitland.co.uk / +44 (0)7990 595 913
IK Investment Partners
Maitland/AMO – James McFarlane
jmcfarlane@maitland.co.uk / +44 (0) 7584 142 665
Luxempart
Olaf Kordes – olaf.kordes@luxempart.lu / +352 691 306 540
Stakeholders in the operation
iM Global Partner and Eurazeo
M&A Advisory
Banque Hottinguer: Philippe Bonhomme, Romain Guillemin, Anthony Larroque
Legal Advice
Goodwin Procter: Maxence Bloch
Sekri Valentin Zerrouk: Géraud de Franclieu, Céline Raynal
Regulatory Counsel
CMS Francis Lefebvre: Jérôme Sutour
Tax Advice
Cazals Manzo Pichot: Romain Pichot
Vendor Due Diligence Advisory
KPMG: Raphaël Jacquemard
IK Investment Partners
Thomas Grob, Thibaut Richard, Florent Labiale
M&A Advisory
Cardinal Partners: Guillaume Werner, Konstantinos Kostis
Legal Advice
Willkie Farr & Gallagher: Eduardo Fernandez
Legal Audit
KPMG: Florence Olivier
Tax Advice
Arsène: Mirouna Verban
Financial Advice
Grant Thornton: Emmanuel Riou
Luxempart
Olaf Kordes, Philippe Theisen
Legal Advice
Weil Gotshal & Manges: Frédéric Cazals, Côme Wirz
Strategic Audit
LEK: David Danon-Boileau, Ashish Khanna, Bronswe Cheung
Tax Advice
Atoz: Keith O’Donnel, Samantha Hauw
Regulatory Counsel
Simmons & Simmons: Emilien Bernard-Alzias

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CVC Credit supports Pollen Street Capital’s and Qatar Insurance Corporation’s investment in Markerstudy Group

CVC Capital Partners

The debt facilities provided by CVC Credit supported a £200 million equity investment in Markerstudy Group

CVC Credit is pleased to announce that it has supported Pollen Street Capital’s and Qatar Insurance Corporation’s investment in leading UK insurance company, Markerstudy Group, with £85 million senior debt facilities. The business will use the investment to fund an organic and acquisition-led expansion programme to build on its rapid development over recent years, following its evolution into a Managing General Agent.

Founded in 2001, Markerstudy is the fifth largest motor insurance provider in the UK, one of the largest privately owned insurance groups, and the largest Managing General Agent in the UK. With over 1.8 million policyholders, it is known for its investment in technology, underwriting expertise and sophisticated product development.

Chris Fowler, Managing Director in CVC Credit’s European Private Credit business, said: “We are pleased to support Pollen Street’s and QIC’s investment in Markerstudy. This is a growing and innovative business which operates in a stable market, driven by both consumer demand and regulatory trends. CVC Group is an experienced investor in the insurance sector, including current investments such as April and RAC in CVC Capital’s portfolios. This broad understanding of the space was key when validating the quality of the business and underlying market drivers.”

Michael England, Partner at Pollen Street, said, “We have been impressed throughout our time working with Markerstudy with their entrepreneurial attitude, track record of growth, and their ambitions for the future. We focus our investments on opportunities where we can work with management teams to build leaders in European financial services, driving growth through a combination of the strongest customer propositions, with data and technology led business models. The right lender is also important in a transaction such as this – we needed someone with experience of the industry, the complex regulatory environment, and the commercial drivers of success; in CVC Credit we are pleased to have found such a partner.”

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Kempen European Private Equity Fund acquires a direct interest in software company Eque2

Kempen

The Kempen European Private Equity Fund, the private equity investment fund of Kempen Capital Management (Kempen), has backed the senior management team at construction software company Eque2 to acquire the business from its existing shareholders.

Eque2 supplies business management software to more than 2,700 customers in the construction, housebuilding and contracting industries. Its software enables builders, contractors, architects, engineers and estimators to integrate the commercial and financial aspects of their business, driving efficiencies and ultimately improving profitability. Revenues have grown significantly over the last four years and it has proven to be exceptionally resilient during the Covid pandemic. The company continues to invest significantly in customer service and product development to allow customers to further integrate and mobilize the commercial and financial aspects of their business to drive efficiencies and ultimately improve profitability.

The transaction values Eque2 at £46.5m. Kempen co-invests in the management buyout together with its long-time UK investment partner WestBridge Capital and as a group they have a majority stake in the capital of the business, with the balance owned by the Eque2 management team. This is the 7th direct deal in the Kempen European Private Equity Fund and the second UK-focused deal for the Fund.

Sven Smeets, Managing Director Kempen Private Markets, comments: “Eque2 is a very attractive business. The management team is experienced with a proven track record and the company operates in a resilient market that is expected to grow strongly over the next few years as the UK emerges from the economic impact of Covid and Brexit. We are delighted to be able to back this highly experienced management team, who we are confident will successfully steer the business to its next level of growth.”

Edzard Potgieser, Director Kempen Private Markets, adds: “together with our partner WestBridge Capital, we are looking forward to supporting and helping drive further investments and growth in the Eque2 business in the years to come.”

Guy Davies, Managing Partner at WestBridge Capital, said: “We are pleased to report that with the support of our co-investor Kempen we have successfully closed the £46.5m management buyout of construction software company Eque2.  We are delighted that Kempen has chosen WestBridge as its UK private equity investment partner and that they are co-investing with us in Eque2. We look forward to working with Kempen and the Eque2 management team on this very exciting opportunity. We have worked together with Kempen for years on various other successful deals and we view the Kempen team as a partner in an alliance that offers room for professional, long term entrepreneurial investing.”

About Eque2
Eque2 is a specialized supplier of software for the construction industry. The company provides software to over 2,700 clients and employs over 150 staff in 4 offices in the UK.

About the Kempen
The Kempen European Private Equity Fund was launched at the start of 2019 and is a closed-end investment fund with a minimum duration of ten years. The fund focuses on the small and lower mid-sized segment of the European buy-out private equity market in five regions: the Benelux, the German-speaking countries, France, the United Kingdom and Scandinavia. The aim is to construct a broad investment portfolio over a period of three to five years by diversifying across the listed regions and a range of sectors. The reason for this is risk diversification.

As of February 2021, the portfolio already contained seven direct investments in companies and nine partnerships with local European investment partners that are well established in their respective regions. The fundraise for the Kempen European Private Equity Fund was successfully completed in 2019 on a total committed capital of € 192.5 million.The Kempen European Private Equity Fund has now been closed to new participants/entrants.

Disclaimer
The Kempen European Private Equity Fund (the Sub-Fund) is a sub-fund of Kempen Alternative Markets Fund SICAV-RAIF (the “Fund”), domiciled in Luxembourg. Kempen Capital Management N.V. (KCM) is the management company of the Fund. KCM is authorised as a management company and regulated by The Netherlands Authority for the Financial Markets. The Sub-Fund is registered under the license of the Fund at the Netherlands Authority for the Financial Markets. 

The information in this document provides insufficient information for an investment decision. Please read the Key Investor Document (available in Dutch and English) and the prospectus (available in English). These documents of the Fund are available on the website of KCM (www.kempen.com/en/asset-management). The information on the website is (partly) available in Dutch and English. The Subfonds is registered for offering in a limited number of countries. The countries where the subfund is registered can be found on the website.

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About Kempen Capital Management

Kempen Capital Management is a specialist asset manager with a focused approach and a clear investment philosophy. We believe in long-term stewardship for our clients and other stakeholders. Kempen provides sustainable returns, fiduciary management services, manager selection, portfolio construction and monitoring, alongside a number of actively-managed investment strategies. As of 30 June 2020, Kempen Capital Management had a total of €79.1 billion in client assets under management.

Kempen Capital Management, part of Van Lanschot Kempen Wealth Management NV, is a specialist and independent wealth manager. Kempen Capital Management NV is licensed as a manager of various UCITS and AIFs and authorised to provide investment services and as such is subject to supervision by the Netherlands Authority for the Financial Markets. Kempen Capital Management (UK) Ltd is licensed as a manager and subject to supervision by the Financial Conduct Authority.

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Apollomics, Inc. and Iterion Therapeutics Announce Exclusive Collaboration and License Agreement to Develop and Commercialize Tegavivint in Greater China

Venture Invetors

Agreement will expand clinical development for a potent and selective small molecule targeting TBL1, a downstream target in the Wnt/β-catenin signaling pathway

| Source : Apollomics, Inc.

FOSTER CITY, Calif., HANGZHOU, China and HOUSTON, Feb. 10, 2021 (GLOBE NEWSWIRE) — Apollomics, Inc., an innovative biopharmaceutical company committed to the discovery and development of mono- and combination- oncology therapies, and Iterion Therapeutics, Inc., a venture-backed, clinical stage biotechnology company developing novel cancer therapeutics, today announced an exclusive collaboration and license agreement for the development and commercialization of tegavivint in Mainland China, Hong Kong, Macau and Taiwan, also known as Greater China.

Tegavivint is a potent and selective inhibitor of nuclear β-catenin that works through binding to TBL1 (Transducin Beta-like Protein One), a downstream target in the Wnt-signaling pathway. Iterion is pursuing the development of Tegavivint for the treatment of cancers where nuclear ß-catenin signaling is known to play a role. Tegavivint is currently the subject of a Phase 1/2a clinical trial in patients with progressive desmoid tumors.

“As a potent and selective small molecule targeting the Wnt-signaling pathway, Tegavivint is an ideal addition to our clinical development pipeline,” said Guo-Liang Yu, Ph.D., Chief Executive Officer of Apollomics. “The preclinical work has demonstrated that the differentiated mechanism of action may be applicable in several indications as both a monotherapy and a combination treatment. We look forward to working with the Iterion team to expand development in Greater China.”

Under the terms of the agreement, Apollomics will be responsible for clinical development and commercialization in Greater China. Apollomics and Iterion will form a joint development committee to ensure ongoing collaboration of Tegavivint across indications and geographies. Iterion has received an initial cash payment for ongoing research and development costs in connection with the company’s global development of Tegavivint. Iterion is also eligible to receive potential development and sales milestone payments, as well as tiered royalties on net sales. Apollomics will be responsible for all costs related to development and commercialization activities for Tegavivint in Greater China.

Rahul Aras, Ph.D., President and Chief Executive Officer, Iterion Therapeutics, added, “As we explore multiple indications for Tegavivint in the U.S., including desmoid tumors, acute myeloid leukemia, non-small cell lung cancer, and pediatric cancers, we are excited to partner with Apollomics to expand its development and potential commercialization in Greater China. With Apollomics’ oncology focus and growing footprint in China, they are the partner of choice to successfully advance Tegavivint for cancer patients in this region.”

About Tegavivint

Tegavivint is a potent and selective inhibitor of nuclear β-catenin that binds to TBL1 (Transducin βeta-like Protein One), a downstream target in the Wnt-signaling pathway. Targeting TBL1 may enable specific silencing of Wnt-pathway oncogenic gene expression without affecting other necessary cellular functions that are disrupted when targeting higher up the Wnt-pathway. This avoids toxicity issues common to other drugs in this pathway.

Tegavivint has the potential for clinical utility in multiple cancer types. Tegavivint is currently the subject of a Phase 1/2a clinical trial in progressive desmoid tumors. Desmoid tumors, a rare type of sarcoma for which there is no currently approved therapy, are driven primarily by nuclear β-catenin signaling and, thus, present an optimal indication for demonstrating the drug’s mechanism of action as the company pursues additional clinical programs. Tegavivint has also demonstrated anti-tumor activity in multiple pre-clinical models, including acute myeloid leukemia (AML) and non-small cell lung cancer (NSCLC).

About Iterion Therapeutics

Iterion Therapeutics is a venture-backed, clinical stage biotechnology company developing novel cancer therapeutics. The company’s lead product, Tegavivint, is a potent and selective inhibitor of nuclear β-catenin, an oncology target implicated in cell proliferation, differentiation, immune evasion and stem cell renewal. Research demonstrating anti-tumor activity in multiple pre-clinical models indicate that Tegavivint has the potential for clinical utility in multiple cancer types. Tegavivint is currently the subject of a Phase 1/2a clinical trial in patients with progressive desmoid tumors. Iterion is also pursuing development in additional cancers where nuclear β-catenin signaling has been shown to play a role, including acute myeloid leukemia (AML), non-small cell lung cancer (NSCLC), and pediatric cancers, including sarcomas, lymphoma and other solid tumors. This research/clinical trial was supported with a $15.9 million grant from the Cancer Prevention & Research Institute of Texas. For more information on Iterion, please visit https://iteriontherapeutics.com.

About Apollomics, Inc.

Apollomics, Inc. is an innovative biopharmaceutical company committed to the discovery and development of mono- and combination- oncology therapies to harness the immune system and target specific molecular pathways to eradicate cancer. The company’s existing pipeline consists of several development-stage assets, including novel, humanized monoclonal antibodies that restore the body’s immune system to recognize and kill cancer cells, and targeted therapies against uncontrolled growth signaling pathways. For more information, please visit www.apollomicsinc.com.

Iterion Therapeutics Contact:

Tiberend Strategic Advisors, Inc.
Ingrid Mezo (Media)
646-604-5150
imezo@tiberend.com

Apollomics Contacts:

Investor Contact:
Wilson W. Cheung
Chief Financial Officer
(650) 209-4436
wcheung@apollomicsinc.com

U.S. Media Contact:
Remy Bernarda
Corporate Communications
(415) 203-6386
remy.bernarda@apollomicsinc.com

China Media Contact:
Porda Havas International Finance Communications Group
Kelly Fung Phoenix Fung
General Manager Assistant Vice President
(852) 3150 6763 (852) 3150 6773
kelly.fung@pordahavas.com phoenix.fung@pordahavas.com

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Investment of $58M Endorses vArmour as Leader in Accelerating Application Relationship Management Market

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Nightdragon

AllegisCyber Capital and NightDragon lead round to validate market demand for relationship-based application security

vArmour, the leading provider of Application Relationship Management, today announced it has raised $58M in its latest round of funding to accelerate company growth. The latest, oversubscribed round is led by AllegisCyber Capital and NightDragon, with support from existing investors Standard Chartered Ventures, Highland Capital Partners, Telstra, Redline Capital, and EDBI. vArmour has seen strong momentum, doubling net new annual recurring revenue year over year with a trajectory to exceed that in the next fiscal year.

The year 2020 saw an ever-increasing number of enterprises worldwide moving their applications and infrastructure to hybrid cloud environments. Gartner estimates that by 2024, more than 45% of IT infrastructure spending will shift to the cloud. However, conventional tools, applications, and processes have not kept pace. Organizations still cannot “see” in real-time how people and applications interact, impeding their ability to manage risk. vArmour is focused on solving this fundamental challenge through a novel approach called Application Relationship Management. This enables organizations to visualize and control relationships between every user, every application, and across every environment to ultimately better manage risk, increase resiliency, speed application deployment — all without adding costly new infrastructure components or agents.

AllegisCyber Capital has been instrumental in steering vArmour towards its accelerated growth. “Managing risk and resiliency in the hybrid cloud is one of the most significant security challenges for enterprises,” said Bob Ackerman, Founder and Managing Director at AllegisCyber Capital. “vArmour’s platform provides the visibility, controls, and accountability necessary to actively manage these challenges and has done this for hundreds of customers. We are ecstatic to be part of their next stage of growth.”

“As applications become more complex, more distributed, and more targeted by attackers, the importance of full visibility into the relationships between applications becomes increasingly important.” said Dave DeWalt, founder of NightDragon. “vArmour’s approach to application relationship management ensures that enterprises of all sizes can continuously audit, respond, and control identity relationships to best protect their important IP, and mitigate risk to the business.”

vArmour’s focus and investment in product innovation and people are key drivers to their growth. Their latest offering, the Application Access & Identity Module, is equipping security and operations teams with unprecedented visibility and control over user access to critical applications, freeing up time and energy spent mining through thousands of relationship networks. Their new AI and ML research branch in Calgary, Canada is dramatically speeding up time to value for customers by using automation to make faster and more accurate business decisions. Investments in people will continue as they hire global go-to-market teams in Munich, Toronto, Singapore, and Melbourne, along with growing their research and development team in the Bay Area.

“Our innovation, partnerships, and overall customer momentum have been critical in helping us with our growth toward the path to the public marketplace,” said Tim Eades, CEO of vArmour. “By giving our customers unparalleled insights into their applications and the identity of each relationship, we equip them to make real-time decisions regarding their critical assets, which helps enhance both their security posture and their end-user experience.”

For more information on vArmour, please visit www.vArmour.com.

About vArmour

vArmour is the leading provider of Application Relationship Management. Enterprises around the world rely on vArmour to control operational risk, increase application resiliency and secure hybrid clouds — all while leveraging the technology they already own without adding costly new agents or infrastructure. Based in Los Altos, CA, the company was founded in 2011 and is backed by top investors including Highland Capital Partners, AllegisCyber Capital, NightDragon, Redline Capital, Citi Ventures, and Telstra. Learn more at www.vArmour.com.

About AllegisCyber Capital

AllegisCyber Capital is passionate about identifying companies and entrepreneurs developing disruptive and innovative approaches to address the crucial issues on the fast-changing cybersecurity landscape. AllegisCyber Capital uses an integrated investment platform and a game-changing strategic partnership with cybersecurity start-up studio DataTribe to give its entrepreneurs an unfair competitive advantage. DataTribe, a cybersecurity startup foundry located in Maryland, focuses on launching start-ups based on cyber domain expertise out of the intelligence community and national laboratories. Representative portfolio companies of AllegisCyber Capital include: vArmour, Shape, Prevailion, Synack, Enveil, and Dragos. www.allegiscyber.com

About NightDragon

NightDragon is an investment firm focused on investing in growth and late-stage companies within the cybersecurity, safety, security, and privacy industry. Its flexible model allows it to lead or co-invest alongside leading venture capital and private equity firms in the pursuit of driving growth and increasing shareholder value. NightDragon is unique in providing deep operational expertise in cybersecurity gained by its founders Dave DeWalt and Ken Gonzalez from years serving as senior executives leading technology companies such as Documentum, EMC, Siebel Systems (Oracle), McAfee, Mandiant, Avast, and FireEye. www.nightdragon.com

Media Contact:
Mariah Gauthier, Highwire PR
vArmour@highwirepr.com
(951) 314-0760

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Kinnevik intends to propose a distribution of its Zalando shareholding to its shareholders, accelerating Kinnevik’s strategic transformation

Kinnevik

Kinnevik AB (publ) (“Kinnevik”) today announced that its Board intends to propose the distribution of Kinnevik’s shareholding in Zalando SE (“Zalando”) to its shareholders at the 2021 Annual General Meeting. Through the distribution, Kinnevik’s portfolio becomes more balanced and focused on Kinnevik’s younger high-growth, increasingly unlisted, businesses – in line with Kinnevik’s strategic plan to transform its portfolio and reinforce its position as Europe’s leading listed growth investor.

  • The Board of Kinnevik intends to propose a distribution of Kinnevik’s shareholding in Zalando. Based on the closing price of Zalando’s shares on 15 February 2021, the intended distribution corresponds to an extraordinary value transfer of approximately SEK 55.1bn to Kinnevik’s shareholders, equivalent to approximately SEK 200 or 0.195 Zalando shares per Kinnevik share
  • The distribution of the Zalando shares will be made through an automatic share redemption program followed by a possibility for shareholders to re-register the distributed Zalando shares into shares that can be traded on the Frankfurt Stock Exchange
  • To finalise the distribution during the second quarter of 2021, Kinnevik’s 2021 Annual General Meeting will be held on 29 April (instead of 10 May as previously communicated)
  • Shareholders representing in aggregate 30 percent of the shares and 50 percent of the votes have expressed their support for the distribution and have confirmed that they intend to vote in favor of the distribution at the Annual General Meeting
  • The distribution marks the beginning of a new chapter for both Kinnevik and Zalando, after a 10-year story generating an 8.6x return on a SEK 7.9bn investment to date
  • The distribution is a step-change in Kinnevik’s ongoing strategic transformation. The share of Kinnevik’s portfolio invested in younger, high-growth, primarily unlisted businesses increases from 37 to 67 percent, almost doubling investor exposure to the investment strategy that has generated an IRR of >40 percent over the last three years and a return of >100 percent during 2020, while the share of unlisted investments increases from 15 to 27 percent
  • Kinnevik’s pro forma net asset value after the distribution amounts to SEK 71.4bn, or SEK 259 per share, including SEK 4.3bn in net cash, which together with future Tele2 dividends places Kinnevik in a strong financial position to continue executing on its strategy and strengthen its position as Europe’s leading listed growth investor
  • Through the distribution, Kinnevik’s shareholders are provided the option to directly participate in Zalando’s future shareholder value creation or divest to receive a cash consideration that may be reinvested in Kinnevik as it continues to execute on its strategy

Kinnevik owns 54.0 million Zalando shares, equivalent to 21 percent of Zalando’s total shares outstanding. Kinnevik’s Board intends to propose the distribution of Kinnevik’s Zalando shareholding through an automatic share redemption program. For Kinnevik to be able to finalise the distribution in the second quarter of 2021, the Annual General Meeting of shareholders will be held on 29 April 2021 (instead of 10 May as previously communicated).

Through the distribution of its shareholding in Zalando, Kinnevik makes an extra distribution of value to Kinnevik’s shareholders of approximately SEK 55.1bn, equivalent to approximately SEK 200 per Kinnevik share (based on the closing price of Zalando’s shares on 15 February 2021) or 0.195 Zalando shares per Kinnevik share. The Board will determine the exact and final size and terms of the distribution based on the value of Kinnevik’s shareholding in Zalando shortly before the proposed automatic share redemption plan is initiated.

Kinnevik’s shareholding in Zalando will for technical reasons be distributed in the form of Euroclear Sweden-registered Zalando shares that the holder may register directly with Clearstream Germany following the distribution. The re-registration is made to enable shareholders to complete trades with the distributed Zalando shares on the Frankfurt Stock Exchange.

A step by step description of the distribution and a Q&A are available on Kinnevik’s website: https://www.kinnevik.com/investors/zalando-distribution. The Board’s proposal regarding the distribution will be set out in the notice convening the 2021 Annual General Meeting. Kinnevik will also publish an information brochure regarding the distribution of the shares in Zalando and the automatic share redemption program, with detailed instructions on how to register the received Zalando shares directly with Clearstream Germany. The notice and information brochure will be made available on Kinnevik’s website during the end of the first quarter of 2021. The information brochure will also be sent to Kinnevik’s directly registered shareholders.

Founded in 2008 in Berlin, Zalando is Europe’s leading online fashion platform connecting customers, brands and partners. Led by the visionary founders Robert Gentz, David Schneider and Rubin Ritter, Zalando has reimagined the European fashion market, setting new market standards from the outset by offering its customers free delivery and up to 100-day rights of return. With the accelerated consumer shift towards digital offerings, Zalando has had a very successful 2020 during which the company has seen its share price more than double.

Kinnevik first invested in Zalando in 2010. As the company’s largest shareholder for 10 years, Kinnevik has consistently supported Zalando’s strategy as it evolved from an online fashion catalogue retailer to an online platform connecting all the major players in the fashion industry – from end-customers, through retailers, brands, stylists and factories, to advertisers. Zalando’s strong execution has created significant value for Kinnevik’s shareholders – from a total investment of SEK 7.9bn, Kinnevik’s stake is today worth SEK 55.1bn and is now intended to be distributed to shareholders. In addition, Kinnevik has already released a total of SEK 12.7bn in capital previously invested in Zalando to strengthen its financial position, invest in the younger, high-growth portfolio of businesses such as VillageMD, Kolonial and Budbee, and to pay shareholders an extra cash distribution of SEK 1.9bn last year.

The distribution pushes Kinnevik’s strategic transformation forward by balancing a larger share of its portfolio towards its younger, disruptive and technology-enabled growth and venture capital businesses. Through the distribution of the Zalando shareholding to Kinnevik’s shareholders, the relative contribution of these businesses to Kinnevik’s portfolio increases materially while Kinnevik’s shareholders are provided the option to directly participate in Zalando’s future shareholder value creation, or divest to receive a cash consideration that may be reinvested in Kinnevik as it continues to execute on its growth-focused investment strategy.

Georgi Ganev, CEO of Kinnevik, commented: ”The founders and management of Zalando have a unique ability to combine a visionary strategy with exemplary execution, and the investment in Zalando has been instrumental in establishing Kinnevik as the leading listed European growth investor in tech-enabled businesses. It has been a fantastic journey of value creation for Kinnevik’s shareholders. With the company’s maturity and strong market position, and strong momentum generated by consumers’ accelerated shift to digital, I am convinced that Zalando will continue to execute on its growth strategy and create significant value for its shareholders going forward.”

He continued: “For Kinnevik, the distribution means an increased focus on the early growth portfolio in line with our strategic transformation. We have seen strong traction in executing on our strategy with annualized inception returns in our healthcare portfolio exceeding 125 percent, and annualized returns in the early growth portfolio as a whole amounting to more than 40 percent during the last three years of our transformation. By distributing Zalando to our shareholders, the portfolio distribution becomes more balanced and unique, and we will have more than two-thirds of our capital invested in a diverse set of younger, high growth, increasingly private digital companies, making consumers’ lives better in the digital age.”

Shareholders representing in aggregate 30 percent of the shares and 50 percent of the votes have expressed their support for the distribution and have confirmed that they intend to vote in favor of the distribution at the 2021 Annual General Meeting.

Anders Oscarsson, Head of Equities at AMF commented: “AMF fully supports Kinnevik’s intentions to distribute its Zalando investment to its shareholders. With the distribution, the spotlight is pointed on Kinnevik’s portfolio of younger, high-growth businesses, and Kinnevik’s ability to build on and replicate its recent successes. Meanwhile, shareholders who wish to retain its exposure to Zalando may do so. As investors in both Kinnevik and Zalando, we believe this transaction will benefit long-term shareholders of both companies.”

Kinnevik will host a digital Capital Markets Day on 24 February 2021, encompassing an update on its strategy, financial position and capital allocation framework. Kinnevik will also present deep-dives into its focus sectors with participation from the investment organization and the leadership of some of Kinnevik’s companies.

Kinnevik will host a conference call for analysts and media today at 10.00 CET. Those who wish to participate in the conference call are welcome to dial-in on the below numbers.

Link to the audiocast:
https://edge.media-server.com/mmc/p/fpro6vks

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

Confirmation code:
86507519#

This information is information that Kinnevik AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out below, at 07.00 CET on 17 February 2021.

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

Torun Litzén, Director Investor Relations
Phone:     +46 (0)70 762 00 50
Email:     press@kinnevik.com

Kinnevik is a sector-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 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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