Category Archives: News

Speed Group to install Nordic region’s largest solar-panel roof

Ratos

2020-02-10

The Nordic region’s largest rooftop photovoltaic (PV) system – both in terms of size and capacity – will be installed on Speed Group’s new head office and warehouse, located outside Borås, Sweden. The system, which will cover an area as big as 11 football pitches, is expected to produce 4GWh of green electricity per year, equivalent to the annual consumption of 400 villas. The initiative will provide Speed Group with an attractive green logistics offering and make the warehouse CO2 positive.

“We can now offer our new and existing customers an attractive green logistics solution, which is becoming increasingly sought after. This warehouse will provide our customers with a CO2-neutral solution. As we automate our warehouses, our energy needs are also increasing, and these needs can now be met with solar power produced at our own facility,” says Mats Johnson, CEO of Speed Group.

Speed Group’s new warehouse and head office will be completed on an ongoing basis, with the entire building, comprising 83,000 square metres, expected to be fully operational by May 2020. The PV system will cover an area of 60,000 square metres.

“This initiative is an exciting and natural step both from a business perspective for Speed Group and from a social and sustainability perspective. Ratos is convinced that there is a strong link between sustainability and long-term value creation, and these issues are top priorities for us in our ownership role,” says Christian Johansson Gebauer, Head of Business Area Construction & Services at Ratos and Chairman of the Board of Speed Group.

Ratos became the majority owner of Speed Group in 2015. Today, Speed Group is a national supplier of logistics, staffing, recruitment and training services, with a strong position in an attractive underlying market. The company has approximately 1,050 employees and sales of SEK 707m for 2019.

For further information, please contact:
Christian Johansson Gebauer, Head of Business Area Construction & Services, Ratos, +46 8 700 17 00
Helene Gustafsson, Head of IR and Press, Ratos, +46 8 700 17 98

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KKR Sells Deutsche Glasfaser to EQT and OMERS

KKR

Under KKR’s ownership, the company has become the German market leader in next-generation digital infrastructure

LONDON–(BUSINESS WIRE)–Feb. 10, 2020– KKR, a leading global investment firm, today announces the signing of an agreement with EQT Infrastructure IV fund (“EQT” or “EQT Infrastructure”) and OMERS, for EQT and OMERS to jointly acquire Deutsche Glasfaser (“DG”).

Deutsche Glasfaser was founded in 2011 and KKR acquired a majority position in 2015 from Dutch investor Reggeborgh. Under KKR’s ownership, Deutsche Glasfaser has become the fastest growing provider of gigabit internet connections through fiber-to-the-home (“FTTH”) in Germany. With KKR’s operational and financial support the company invested over €1.2bn in fibre infrastructure and deployment in underserved rural and suburban communities in Germany, increasing connections to more than 600,000 households and 5,000 businesses.

During that period, KKR has provided consistent support to the DG team including through its dedicated Capital Markets team, which has led several successful rounds of financing for the company to support its growth. The investment demonstrates KKR’s unique expertise in growing and expanding businesses in the infrastructure sector while making an important contribution to increasing broadband penetration, supporting SME growth and helping bring market-leading connectivity to underserved communities in Germany.

Vincent Policard, Partner at KKR in European Infrastructure, said: “A big thank you to Uwe Nickl, Jordi Nieuwenhuis and their management team for an incredible journey over the past years. We are delighted to have contributed to this by supporting the growth of a company which has transformed German connectivity, making huge progress in ensuring that all German households and businesses have access to the digital infrastructure necessary to drive economic growth and help societal development. We wish the company continued success in further developing the German gigabit society.”

Uwe Nickl, CEO of Deutsche Glasfaser, said: “I am very happy to have worked with the team at KKR who have helped us immensely over the past few years with our growth journey as a business. KKR’s industry expertise, deep international network and continued support throughout the process has been invaluable, helping us to scale effectively, establish our market-leading position and bring digital infrastructure to more homes in Germany than ever before.”

The investment in Deutsche Glasfaser was made through KKR’s Infrastructure Fund II. KKR has been active in the infrastructure sector for a decade and currently has around $20bn AUM. The global infrastructure platform has completed over 30 investments in that period, half of those in Europe, across the energy and utility, transportation and telecommunications sectors. The team is currently investing KKR Global Infrastructure Investors III, a $7.4bn vehicle raised in 2018, and has been active in Europe in recent months with transactions including the acquisition of a majority stake in Hyperoptic, a leading UK fibre broadband provider.

The closing of the transaction is expected in Q2 2020, subject to customary regulatory approval. Morgan Stanley acted as financial advisor to KKR and Clifford Chance served as legal counsel on the transaction.

For more information:

About KKR

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

Source: KKR

International
Alastair Elwen
Finsbury
Alastair.elwen@finsbury.com
+44 20 7251 3801

Germany
Raphael Eisenmann
Hering Schuppener
+49 69 92 18 74-86
reisenmann@heringschuppener.com

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JenaValve Technology Closes $50 Million Financing

GIMV

Equity Round led by Bain Capital Life Sciences

IRVINE, Calif. (February 5, 2020) – JenaValve Technology, Inc., developer and manufacturer of the
JenaValve Pericardial Transcatheter Aortic Valve Replacement (TAVR) System for the treatment of
aortic valve disease, announces that it has raised $50 million in an equity financing led by Bain Capital
Life Sciences. Additional participants in the financing included existing investors Andera Partners, Gimv,
Legend Capital, NeoMed Management, RMM, Valiance Life Sciences and VI Partners. The Company
also announces the appointment of Andrew Hack, MD, PhD, Managing Director of Bain Capital, to the
JenaValve Board of Directors.

“We are pleased to complete this financing led by new investor Bain Capital Life Sciences, a wellrespected name in healthcare, as well as strong participation from our existing venture investors,” said John Kilcoyne, JenaValve’s Chief Executive Officer. “This announcement comes on the heels of receiving Breakthrough Device designation from the U.S. Food and Drug Administration (FDA), which
allows for priority review of our Align Clinical Trial for the treatment of symptomatic, severe aortic
regurgitation (AR) and AR-dominant mixed aortic valve disease. Our TAVR system is differentiated in
that no other transcatheter valve device has FDA approval for patients suffering from severe AR who are
at high risk for surgery, which we believe is a multi-billion-dollar market opportunity. This financing
supports our ongoing clinical program and plans to file for U.S. Humanitarian Device Exemption (HDE)
approval in the second half of 2020.”

JenaValve is conducting a global multicenter clinical program for the treatment of patients with severe
AR and AR-dominant mixed aortic valve disease who are at high risk for surgery. Following completion
of the HDE portion of the trial, patient enrollment will continue in support of submitting a Premarket
Approval (PMA) application to the FDA under the Breakthrough Device program. The Company also
anticipates filing the JenaValve® for CE mark approval for both aortic stenosis and aortic regurgitation in
the second half of 2020.
“We welcome Dr. Hack to our Board and look forward to Bain Capital’s contribution to governance and
strategy,” added Mr. Kilcoyne. “Andrew’s industry knowledge and experience, as well as his success as
an institutional investor and chief financial officer will add valuable perspectives to our Board.”
Dr. Hack commented, “I’m delighted to join the JenaValve Board as the Company works to gain approval
for a solution to a significant unmet medical need. JenaValve’s focus on advancing a breakthrough
technology with the ability to improve patient lives embodies the characteristics we seek at Bain Capital
Life Sciences. We are committed to providing both financial assistance and oversight in support of
JenaValve’s success.”

Dr. Hack has served as a Managing Director at Bain Capital Life Sciences since 2019. He previously
served as Chief Financial Officer of Editas Medicine (Nasdaq: EDIT) and as a healthcare portfolio
manager at Millennium Management. Prior to that, he was a securities analyst at a number of healthcare focused hedge funds and investment banks. Dr. Hack received an MD and a PhD in molecular genetics
and cell biology from the University of Chicago.

About the JenaValve Transfemoral TAVR System
The JenaValve Pericardial TAVR System consists of a bioprosthesis comprised of a self-expanding nitinol
stent with a porcine pericardial valve manufactured using state-of-the-art tissue processing techniques.
The TAVR System is available in three sizes to treat a broad range of aortic annulus diameters.
The JenaValve Pericardial TAVR System is an investigational device, and is not available for sale in the
United States or internationally.

About Bain Capital Life Sciences
Bain Capital Life Sciences (www.baincapitallifesciences.com) pursues investments in biopharmaceutical,
specialty pharmaceutical, medical device, diagnostics and enabling life science technology companies
globally. The team focuses on companies that both drive medical innovation across the value chain and
enable that innovation to improve the lives of patients with unmet medical needs. Since 1984, Bain
Capital has developed global reach, deep expertise and a proven track record in life sciences industries
across its Private Equity, Credit, Public Equity and Venture business units. Bain Capital Life Sciences
builds on the differentiated skillset and enables the firm to pursue opportunities created by several longterm trends in healthcare.

About JenaValve
JenaValve Technology, Inc., with locations in Irvine, Calif., Leeds, U.K. and Munich, Germany, develops
and manufactures transcatheter aortic valve replacement (TAVR) systems to treat patients suffering from
aortic valve disease. The Company is in clinical development of its next-generation transfemoral TAVR
system in both the U.S. and CE mark countries for treating patients with aortic stenosis and/or aortic
regurgitation. In addition to Bain Capital Life Sciences, JenaValve is backed by European and Asian
investors, including Andera Partners (formerly Edmond de Rothschild Investment Partners), Gimv
(Euronext: GIMB), Legend Capital, NeoMed Management, RMM, Valiance Life Sciences and VI
Partners. Additional information is available at www.jenavalve.com.
###
Investor and Media Contact:
Matt Clawson
W2Opure
(949) 370-8500
mclawson@w2ogroup.com

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Medisys announces its first build-up with Sykio, Ogust managersoftware Publisher

Activa Capital

A few months after the partnership of Medisys with Activa Capital and Turenne Santé, the software publisher in the home-care field for dependent people in homes and institutions is pursuing its development with the acquisition of Sykio, publisher of the Ogust Manager software. This transaction enables Medisys to expand its client portfolio to private players in the home-care field for dependent people. Ogust Manager is a full-web and mobile management solution for managing human services activities. Created in 2007, the company is still managed by one of the two founders, Didier Humbert. Newfund, a shareholder since 2012, is selling its stake.With growth of more than 15% per year, Ogust Manager complements Medisys’ SaaS offering with software that is highly appreciated by Medisys’ previously unaddressed private homecare customers. Didier Humbert joins the Medisys management team led by Guillaume Bouillot. Karim Abichat, co-founder, will support the operation by remaining a shareholder.On the occasion of this merger, Medisys has drawn down its additional financing line put in place at the closing of the transaction in May 2019. This transaction underlines the ability of Activa Capital(majority shareholder)to support management teams in the transformation of growing SMEs, particularly through the structuring of external growth operations.Regarding this acquisition, Turenne Santé has brought his sector investor expertise contributing to the consolidation of these two software publishers.Guillaume Bouillot, President of Medisys Holding, said: «Sykio and its Ogust Manager software complement Medisys’ in-home offering with a solution that is perfectly in line with the rapidly growing demands of private structures and franchise networks. We are very pleased to join forces with Didier Humbert and to leverage synergies, particularly commercial synergies, to accelerate the already strong growth of Ogust Manager.»Christophe Parier and Alexandre Masson, Managing Partners of Activa Capital, completed: «Helped byinitial contact initiated before the closing of the Medisys transaction, the combination with Sykio accelerates the development of Medisys and strengthens the company in the medico-social sector. » Mounia Chaoui andGrégory Dupas, Turenne Santé, declared: « We thank all parties for this very nice operation which allows Medisys to offer a complete suite of ERP software for the management of public, associative and private SSIADs and SADs.»

Patrick Malka, co-founder of Newfund, added: We have been accompanying Didier and Karim since 2012. Today a page is turned in the best possible way as this backing of Medisys reflects the founders’ first choice. Congratulations to Medisys and Activa for this operation and good luck to Didier and Karim in their new respective adventures.»Didier Humbert, co-founder of Sykio, stated: «This partnership with Medisys is a great opportunity to enable Ogust to grow faster and continue its sustained pace of innovation in the human services sector. The combination of Medisys and Ogust will enable us to offer a complete technical offering that is unparalleled on the market.

Participants Buyers Medisys:

Guillaume Bouillot Activa Capital: Christophe Parier, Alexandre Masson, Frédéric Singer, Elliot ThiéblinTurenne Santé:Mounia Chaoui, Grégory Dupas Financial Due Diligence: Exelmans (Stéphane Dahan, Manuel Manas, Matthieu Réglade)Social, tax and legal Due Diligence: PwCavocats(Erick Hickel, Nicolas Arfel)Corporate lawyers:Hogan Lovells (Stéphane Huten, Paul Leroy, Alexandre Jeannerot)SellersSykio: Karim Abichat, Didier Humbert Newfund: Patrick MalkaFounders lawyer: ID3 Avocats (Bruno Bibollet)Newfund lawyer: Stance Avocats (Romain Franzetti)Senior financingSeniordebt: Crédit du Nord (Bertrand Descours), Crédit Agricole Provence Alpes Côte d’Azur(Christophe Lejeune), BNP Paribas (Mathias Ronzeaud)

About Medisys

Based in Aix-en-Provence and created in 1991, Medisys is a leading software publisher in the field of home and facilities help and care for dependent persons. Bernard Chevalier, the founder of Medisys, handed over the company in April 2019 to Guillaume Bouillot, a software entrepreneur, associated with the company’s three experienced managers.AboutSykioSykio publishes the management software of the Ogust suite, dedicated to companies and associations of human services, nurseries, cleaning companies and training organizations. The first management software available in SaaS mode, the Ogust range adapts to all specificities (configurable modules or specific developments). Ogust is an innovative French startup based in Paris that designs online management software for human services companies. Its ambition is to enable its customers to develop rapidly thanks to technology (software). Its solutions are used in 8 countries. Ogust offers many functionalities developed mainly to make the organization more efficient, improve the quality of services (extranet access for stakeholders and customers-beneficiaries), improve cash flow (remote transmission CESU) and develop turnover.

About Activa Capital

Activa Capital is an independent private equity company, owned by its partners, characterized by a proactive strategy of supporting growth (organic and external). It currently manages more than €500 million on behalf of institutional investors by investing in French SMEs and Mid-Caps with high growth potential and an enterprise value ranging between €20 million and €100 million. Activa Capital supports its portfolio companies to accelerate their development and international presence, often through active build-upprograms.To learn more about Activa Capital, visit www.activacapital.com

About Turenne Santé

With more than €220 million in assets under management, including more than €120million for FPCI Capital Santé 2 (currently in the fundraising stage), Turenne Santé, Healthcare team of Turenne Group,helps healthcare companies to face challenges related to their growth and transfer.Over the last 20 years, the Turenne Group, a leading private equity firm in France, has helped business owners carry out their innovation, development and transfer projects. As an independent player, the Group managed €1 billion as of 30 June 2019. It employs 61 professionals, including 46 investors, basedin Paris, Lille (Nord Capital), Lyon, Marseille and Metz, who provide assistance to more than 250 business leaders in the healthcare, hospitality, new technologies, distribution or innovative services sectors.The Turenne Group advocates a Socially Responsible Investor approach. It provides financial support and runs the Béatrice Denys Foundation for Therapeutic Innovation, which rewards the most successful projects within French academic medical research, under the auspices of the Foundation for Medical Research.www.turennecapital.com

About Newfund

Founded in 2002 by François Véron and Patrick Malka, Newfund is a €230 million early stage investment fund subscribed by entrepreneurs and family offices committed to entrepreneurial development. In 2019, Newfund has more than 80 active investments, including Aircall, In2Bones and Eqinov. The fund has made some fifteen significant exits, including Luckey Homes (acquired by Airbnb), Medtech SA and Beyond Ratings (acquired by London Stock Exchange Group). Newfund is also one of the only French early-stage funds present in the United States, in Silicon Valley, with already more than 25 companies. More information on:

www.newfundcap.com

Press contacts:Activa Capital:Alexandre MassonChristophe ParierChristelle PiattoManaging PartnerManaging PartnerCommunication Managers+33 1 43 12 50 12+33 1 43 12 50 12+33 1 43 12 50 12alexandre.masson@activacapital.comchristophe.parier@activacapital.comchristelle.piatto@activacapital.comTurenne Santé:Mounia ChaouiJosepha MontanaPartnerCommunications& SRIManager+33 1 53 43 03 03+33 1 53 43 03 03mchaoui@turennecapital.comjmontana@turennecapital.com

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Nordstjernan divests its holding in PriceRunner

Nordstjernan

Nordstjernan has signed an agreement to divest its holding in PriceRunner, a company that provides a leading digital consumer service for price comparisons and product information from both online shops and brick-and-mortar stores, to the eEquity investment fund and Nicklas Storåkers.

PriceRunner was founded in 1999, and Nordstjernan has been the owner since 2016 with 35 percent of the shares in the company. PriceRunner has approximately 130 employees with operations and sites in Sweden, Denmark and the UK.

“Nordstjernan has been an owner of PriceRunner alongside Nicklas Storåkers and Karl‑Johan Persson. Together with the company’s management, we created an independent and competitive comparison service. The company is now entering a new stage of development, and I would like to extend my deepest thanks to management and employees for their efforts. I am pleased that an experienced investor like eEquity will be a new owner of PriceRunner”, says Peter Hofvenstam, President and CEO of Nordstjernan.

The parties agree not to disclose the terms of the transaction.

Peter Hofvenstam
President and CEO
Nordstjernan AB

Questions will be answered by:

Peter Hofvenstam, CEO, Nordstjernan
E-mail: peter.hofvenstam@nordstjernan.se

Stefan Stern, Head of Communications, Nordstjernan
Telephone: +46 70 636 74 17
E-mail: stefan.stern@nordstjernan.se

Nordstjernan is a family-controlled investment company whose business concept is to be an active owner that creates long-term value growth. More information about Nordstjernan can be found on www.nordstjernan.se.

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CapMan Nordic Real Estate II signs agreement with the Swedish Police to lease in excess of 30,000 sqm of space in Eskilstuna, Sweden

CapMan Real Estate Press release
7 February 2020 at 02.00 p.m. CET

CapMan Nordic Real Estate II signs agreement with the Swedish Police to lease in excess of 30,000 sqm of space in Eskilstuna, Sweden

CapMan Nordic Real Estate II fund has entered into an agreement with the Swedish Police to lease more than 30,000 sqm of space on a long-term basis at its Vintergatan 19 property in Eskilstuna for a new police station.     

CapMan acquired the 63,000 sqm Vintergatan 19 property in March 2018, which sits on a site of 6.5 hectares on Kungsgatan 71 in central Eskilstuna. In 2019, the main existing tenant, ASSA ABLOY, extended its lease on 11,000 sqm for a period of 12 years. In addition to this, CapMan will now develop a modern police station at the property, which will be ready in 2024 and be of significant value to the Police Authority, its employees and the Södermanland County community.

“We are very excited to enter into a long-term agreement with the Police Authority and to develop a new facility for them.  The Police Authority have for some time been searching for a good solution to meet their future needs in Eskilstuna and CapMan is delighted to assist them with this. Completion of this agreement is a major step towards achieving our business plan for the property,” comments Per Tängerstad, Partner at CapMan Real Estate.

Wigge & Partners acted for CapMan in the transaction.

CapMan Nordic Real Estate II is a €425 million fund raised in August 2017. The focus of the fund is to acquire mainly office, industrial, retail and residential properties located in established submarkets of major Nordic cities.

CapMan Real Estate has a team consisting of 40 real estate professionals in Helsinki, Stockholm, Copenhagen and Oslo. CapMan’s current real estate volume under management is over EUR 2.5 billion.

For further information, please contact:
Per Tängerstad, Partner, CapMan Real Estate, tel. +46 70 591 23 00

About CapMan
CapMan is a leading Nordic private asset expert with an active approach to value creation. We offer a wide selection of investment products and services. As one of the Nordic private equity pioneers, we have developed hundreds of companies and real estate assets and created substantial value in these businesses and assets over the past 30 years. Our objective is to provide attractive returns and innovative solutions to investors. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover Private Equity, Real Estate and Infra. We also have a growing service business that includes procurement services, fundraising advisory, and analysis, reporting and wealth management services. Altogether, CapMan employs 140 people in Helsinki, Stockholm, Copenhagen, London and Luxembourg. CapMan is a signatory of the PRI since 2012 and has established the Nordic chapter of the Level 20 network that promotes diversity in the private equity industry. CapMan Plc’s shares are publicly traded on Nasdaq Helsinki since 2001. Please visit www.capman.com for more information.

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Hg invests in smartTrade Technologies

HG Capital

Hg invests in smartTrade Technologies to accelerate its growth as a global leader in multi-asset electronic trading solutions

Hg’s support will help continue innovation and R&D, strengthening smartTrade’s position as one of the most technologically advanced players in the industry

Hg, Europe’s leading software investor, today announced that it has entered into an agreement to acquire stakes from Keensight Capital and Pléiade Venture in smartTrade Technologies (“smartTrade”), a leader in multi-asset electronic trading solutions, headquartered in Aix-en-Provence, France.  David VINCENT, CEO & co-Founder, and the smartTrade management team will remain invested in the business alongside Hg.

smartTrade is a managed services and hosted software provider for trading desks and a global leader in this sector. smartTrade’s liquidity management solutions enable financial institutions to develop and run high-performance trading platforms throughout the world. The business has expanded rapidly in recent years and today has a global client base, with subsidiaries around the world, including in London, Geneva, Milan, New York, Tokyo and Singapore.

Hg has been investing in Capital Markets and Wealth and Asset Management technology for almost 20 years and has known the smartTrade team since 2015. During this time Hg has recognised smartTrade as a truly innovative business, which has developed leading, modular solutions (LiquidityFX and smartFI), used by sell-side and buy-side market participants. With an exceptional leadership team, smartTrade has achieved industry-leading technology credentials supported by well-run operations, with continued potential for growth, making it a compelling fit with Hg’s expertise and capabilities.

Hg’s investment will be made from the Mercury 2 Fund and represents the firm’s 7th investment in technology businesses serving the Capital Markets and Wealth and Asset Management sectors, including previous investments such as Ullink, a global multi-asset trading technology software provider (Paris); and more recently FE fundinfo, the global fund data and technology leader (London and Zurich).

David VINCENT, Chief Executive Officer & Co-Founder at smartTrade Technologies, said: “The success of our business is based on continued innovation and technological advancement, putting R&D at the heart of our business. Welcoming Hg, a real expert in software and technology in this sector, creates a truly compelling offering. I am personally very excited about the prospects of the business. Keensight Capital and Pléiade Venture have played a decisive role in our growth to date, and we are grateful of their involvement. Now, with Hg’s support, alongside the smartTrade team, I am committed to further developing a great service for our customers, as they look to modernise their own systems.”

This proposed investment is subject to French workers’ council consultations and customary clearances. The terms of the transaction are not disclosed. Hg was advised on the investment by White & Case, Deloitte and Bryan, Garnier & Co. smartTrade was advised by Arma Partners and Hoche Partners.

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Kinnevik: Year-End Release 2019

Kinnevik

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

Georgi Ganev, CEO of Kinnevik

2019: A YEAR OF PIVOTING OUR PORTFOLIO TOWARDS GROWTH

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

FINANCIAL POSITION

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

ORGANIZATION

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

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

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

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

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

Confirmation code: 83196960#

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

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

Torun Litzén, Director Corporate Communications

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

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

 

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DIF Capital Partners sells portfolio of UK PPP assets

DIF

DIF Infrastructure III (“DIF III”) and DIF Infrastructure IV (“DIF IV”) are pleased to announce the sale of their stakes in a portfolio of eight UK PPP assets to Equitix, a UK-based infrastructure fund manager.

The portfolio includes significant stakes in the following operational PPP projects: North Kent Police Headquarters, Worcester Library & History Centre, Yorkshire Housing, Grove Village Housing, Stanhope Housing, Leeds Streetlighting, Newcastle & North Tyneside Streetlighting and Stoke Streetlighting.

Andrew Freeman, Head of Exits, said: “This transaction represents a good result from an efficient process for both DIF III and DIF IV. The sale of these assets continues our strategy of selling optimised assets from our more mature funds.”

DIF was advised by Herbert Smith Freehills (legal).

About DIF Capital Partners

DIF is an independent infrastructure fund manager, with €6.0 billion of assets under management across eight closed-end infrastructure funds and several co-investment vehicles. DIF invests in greenfield and brownfield infrastructure assets located primarily in Europe, the Americas and Australasia through two complementary strategies:

  • DIF Infrastructure funds target equity investments in public-private partnerships (PPP/PFI/P3), concessions, utilities and renewable energy projects with long-term contracted or regulated income streams.
  • DIF CIF funds target equity investments in small to mid-sized infrastructure assets in the energy, transportation and telecom sectors with mid-term contracted income streams.

DIF has a team of over 135 professionals, based in nine offices located in Amsterdam (Schiphol), Frankfurt, London, Luxembourg, Madrid, Paris, Santiago, Sydney and Toronto. Please visit www.dif.eu for further information.

Contact:
Allard Ruijs, Partner
Email: a.ruijs@dif.eu

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JenaValve Technology Closes $50 Million Financing

GIMV

IRVINE, Calif. (February 5, 2020) – JenaValve Technology, Inc., developer and manufacturer of the
JenaValve Pericardial Transcatheter Aortic Valve Replacement (TAVR) System for the treatment of
aortic valve disease, announces that it has raised $50 million in an equity financing led by Bain Capital
Life Sciences. Additional participants in the financing included existing investors Andera Partners, Gimv,
Legend Capital, NeoMed Management, RMM, Valiance Life Sciences and VI Partners. The Company
also announces the appointment of Andrew Hack, MD, PhD, Managing Director of Bain Capital, to the
JenaValve Board of Directors.

“We are pleased to complete this financing led by new investor Bain Capital Life Sciences, a wellrespected name in healthcare, as well as strong participation from our existing venture investors,” said John Kilcoyne, JenaValve’s Chief Executive Officer. “This announcement comes on the heels of receiving Breakthrough Device designation from the U.S. Food and Drug Administration (FDA), which
allows for priority review of our Align Clinical Trial for the treatment of symptomatic, severe aortic
regurgitation (AR) and AR-dominant mixed aortic valve disease. Our TAVR system is differentiated in
that no other transcatheter valve device has FDA approval for patients suffering from severe AR who are
at high risk for surgery, which we believe is a multi-billion-dollar market opportunity. This financing
supports our ongoing clinical program and plans to file for U.S. Humanitarian Device Exemption (HDE)
approval in the second half of 2020.”

JenaValve is conducting a global multicenter clinical program for the treatment of patients with severe
AR and AR-dominant mixed aortic valve disease who are at high risk for surgery. Following completion
of the HDE portion of the trial, patient enrollment will continue in support of submitting a Premarket
Approval (PMA) application to the FDA under the Breakthrough Device program. The Company also
anticipates filing the JenaValve® for CE mark approval for both aortic stenosis and aortic regurgitation in
the second half of 2020.

“We welcome Dr. Hack to our Board and look forward to Bain Capital’s contribution to governance and
strategy,” added Mr. Kilcoyne. “Andrew’s industry knowledge and experience, as well as his success as
an institutional investor and chief financial officer will add valuable perspectives to our Board.”
Dr. Hack commented, “I’m delighted to join the JenaValve Board as the Company works to gain approval
for a solution to a significant unmet medical need. JenaValve’s focus on advancing a breakthrough
technology with the ability to improve patient lives embodies the characteristics we seek at Bain Capital
Life Sciences. We are committed to providing both financial assistance and oversight in support of
JenaValve’s success.”

Dr. Hack has served as a Managing Director at Bain Capital Life Sciences since 2019. He previously
served as Chief Financial Officer of Editas Medicine (Nasdaq: EDIT) and as a healthcare portfolio
manager at Millennium Management. Prior to that, he was a securities analyst at a number of healthcarefocused hedge funds and investment banks. Dr. Hack received an MD and a PhD in molecular genetics
and cell biology from the University of Chicago.

About the JenaValve Transfemoral TAVR System
The JenaValve Pericardial TAVR System consists of a bioprosthesis comprised of a self-expanding nitinol
stent with a porcine pericardial valve manufactured using state-of-the-art tissue processing techniques.
The TAVR System is available in three sizes to treat a broad range of aortic annulus diameters.
The JenaValve Pericardial TAVR System is an investigational device, and is not available for sale in the
United States or internationally.

About Bain Capital Life Sciences
Bain Capital Life Sciences (www.baincapitallifesciences.com) pursues investments in biopharmaceutical,
specialty pharmaceutical, medical device, diagnostics and enabling life science technology companies
globally. The team focuses on companies that both drive medical innovation across the value chain and
enable that innovation to improve the lives of patients with unmet medical needs. Since 1984, Bain
Capital has developed global reach, deep expertise and a proven track record in life sciences industries
across its Private Equity, Credit, Public Equity and Venture business units. Bain Capital Life Sciences
builds on the differentiated skillset and enables the firm to pursue opportunities created by several longterm trends in healthcare.

About JenaValve
JenaValve Technology, Inc., with locations in Irvine, Calif., Leeds, U.K. and Munich, Germany, develops
and manufactures transcatheter aortic valve replacement (TAVR) systems to treat patients suffering from
aortic valve disease. The Company is in clinical development of its next-generation transfemoral TAVR
system in both the U.S. and CE mark countries for treating patients with aortic stenosis and/or aortic
regurgitation. In addition to Bain Capital Life Sciences, JenaValve is backed by European and Asian
investors, including Andera Partners (formerly Edmond de Rothschild Investment Partners), Gimv
(Euronext: GIMB), Legend Capital, NeoMed Management, RMM, Valiance Life Sciences and VI
Partners. Additional information is available at www.jenavalve.com.

Investor and Media Contact:
Matt Clawson
W2Opure
(949) 370-8500
mclawson@w2ogroup.com

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