Max Matthiessen continues to future-proof its business as it expands its footprint outside of Sweden. With the acquisitions of the two Danish companies, PensionsSelskabet and StockRate Asset Management, Max Matthiessen will have a significant presence on the Danish market.

“We’ve ambitious growth targets and are in the process of taking Max Matthiessen to the next level. With us, the customer is always at the centre. The entry into the Danish market is very positive. For future growth, the ambition is to establish a presence in Denmark both organically and through acquisitions,” said Jacob Schlawitz, CEO at Max Matthiessen.

PensionsSelskabet pension & health care services has an attractive business model, based on solid partnerships, and has demonstrated a solid track-record of growth and expansion. Its business strategy focuses on ensuring high quality and putting customers’ best interest first.

PensionsSelskabet and its employees look forward to joining Max Matthiessen, as it expands its Life & Pension offering and footprint in Denmark. The acquisition will widen the selection of products and services accessible to customers in Denmark.

“It’s very promising that this is becoming a reality, and we’re all looking forward to joining. With Max Matthiessen’s strength and experience, we can improve and develop our services and range of innovative products in Denmark,” said Stig Wetterstrom, CEO at PensionsSelskabet.

Max Matthiessen also acquires StockRate Asset Management, a leading provider of personal wealth management services, and by that increases its market shares within the segment. With the ambition to expand further internationally, the StockRate acquisition is a perfect match. It brings a presence on the Danish market and is an excellent addition to Max Matthiessen’s product assortment. Furthermore, it will give StockRate employees the opportunity to benefit from Max Matthiessen’s established collaborations and access to Max Matthiessen Group’s business solutions.

The strengthened investment solutions will be beneficial for the customers. StockRate has a solid business model based on flourishing partnerships and a very strong Private Banking branch.

“StockRate is a customer-oriented organisation where the customers’ needs, wishes and satisfaction are at the centre of our decision-making, strategies, and activities. We always strive to create value to our customers through customised products, attentive customer service and continuous improvement in our performance. With Max Matthiessen, we’ll be stronger and able to offer additional investment solutions that earlier haven’t been available in Denmark,” said Kristian Kjer, Administrative Director at StockRate Asset Management.

Press contact:
Hanna Ericsson
Press Officer, Max Matthiessen
Tel: +46 73 463 66 31
e-mail: hanna.ericsson@maxm.se

About PensionsSelskabet pension & health care services
PensionsSelskabet mediates pension- and healthcare systems for companies, entrepreneurs, and individuals, as well as advises on everything from the composition of the company’s pension system to an individual employee’s own solution. The company has more than 25,000 customers, 35 passionate pension specialists and offices in Aalborg, Aarhus, Esbjerg, Herning, Sonderborg, Odense and Copenhagen. The company offers both traditional and innovative pension solutions for companies and their employees.

About StockRate Asset Management
StockRate aims to have a positive impact on the investment industry and to be a responsible and decent asset manager for its clients. It puts the customer at the centre and prioritises personal and independent advice based on its customers’ financial wishes and individual situation. StockRate has extensive expertise in the areas of global equities, bonds, rental housing and alternative and sustainable investing. The company manages more than DKK 8 bn for Danish private professional investors. StockRate strives to deliver value to clients through personal, transparent, and independent advice that makes a real difference.

About Max Matthiessen
Max Matthiessen, founded in 1889, is a leading Swedish advisor within pensions, insurance and investment, offering advice, analysis, administration and procurement of pension and insurance solutions to employers, entrepreneurs and individual customers. The Company also offers advice within savings, investment advisory and asset management. Max Matthiessen has 560 employees at 36 locations throughout Sweden. In 2022, revenues were EUR 190 m. For further information, please see https://www.maxm.se/

NEW YORK–(BUSINESS WIRE)– KKR, a leading global investment firm, today announced that private credit funds and accounts managed by KKR have purchased a $373 million portfolio of prime auto loans from Synovus Bank.

This investment aligns with KKR’s asset-based finance (ABF) strategy, which focuses on privately originated and negotiated credit investments that are backed by large and diversified pools of financial and hard assets, with attractive risk-adjusted returns. KKR has made 65 ABF investments globally since 2016 through a combination of portfolio acquisitions, platform investments and structured investments. The firm has approximately $42 billion in ABF assets under management and a team of more than 50 professionals directly involved in the ABF effort globally.

“We continue to see opportunities to provide capital to the banking community and believe that the combination of our scale, deep ABF investment expertise and ability to execute efficiently positions us to be a partner of choice for these types of transactions,” said Dan Pietrzak, Global Head of Private Credit at KKR.

“There is an immense opportunity for scaled private capital investment across the ABF space, especially as traditional lenders increasingly focus on optimizing their balance sheets and increasing liquidity,” said Avi Korn and Chris Mellia, Managing Directors at KKR.

KKR made the investment through its private credit funds and accounts.

About KKR

KKR is a leading global investment firm that offers alternative asset management as well as 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 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230808240427/en/

Media:
Julia Kosygina
+1 212-750-8300
Media@kkr.com

Source: KKR

• Transaction to position leading non-bank financial institution as a standalone company to drive expanded lending to underserved MSME, agriculture, and affordable housing segments.
• Includes significant support and reinvestment from Gaurav Gupta, who will continue to serve as MD & CEO.

MUMBAI, 23 July 2023 – Bain Capital, a leading global private investment firm, today announced that it has entered into a definitive agreement to acquire 90% of Adani Capital and Adani Housing. The transaction will buy out 100 percent of the Adani family’s private investments in the company, with Gaurav Gupta fully rolling his stake in the company and continuing to serve as Managing Director and CEO.

Bain Capital has also committed $120 million in primary capital to facilitate the company’s ongoing growth. Further, Bain Capital is also immediately making available to the Company a liquidity line $50 million in the form of Non-Convertible Debentures.

“Gaurav and the team have built a scale lending business that supports entrepreneurialism and is trying to solve the $300 billion+ unmet retail MSME credit demand in the country. The company has strong business fundamentals, an experienced team, with ability to serve and expand to core segments like agriculture, housing and to underbanked rural areas,” said Rishi Mandawat, a Partner at Bain Capital. “We see compelling opportunities to partner with Gaurav and team to support and facilitate Adani Capital’s next phase of growth by providing access to significant capital, strategic and operating resources, and deep experience partnering with financial services businesses in India and across the globe.”

“I have known Gaurav since his days as an investment banker,” said Mr. Gautam Adani, Chairman, Adani Group. “He wanted to become an entrepreneur and I backed him. He has not only built a good financial services business with a focus on the underserved in semi-urban and rural India but has also valuably contributed to the Adani Group. I am very happy that a credible investor like Bain Capital is stepping in now and this will help the business grow manyfold from here.”

“It has been an extraordinary six years; to have the capital, a strong brand and, more importantly, the freedom to build a business is perhaps unprecedented – and for this, I thank Gautambhai for the opportunity and for his faith in me,” said Gaurav Gupta. “Our aim has always been to support micro-entrepreneurs and first-time homeowners in Bharat and to be the most economical and convenient lender to our customers by leveraging technology. The team and I are very pleased to welcome a partner like Bain Capital who shares our vision of making affordable finance available to our customer segment with a strong focus on customer literacy and education. With Bain Capital committing INR 1,000 Cr of capital in the Company, we are now equipped to grow 4x from here.”

Entrepreneurialism and growing consumption rates across India are driving a significant increase in the volume of MSMEs, which now constitute an important segment of the Indian economy, contributing approximately 30% of its gross domestic product, according to the Ministry of Micro, Small & Medium Enterprises. Despite their potential, only 10% of MSMEs in India have access to a formal source of credit to support growth aspirations, particularly more acute in rural areas. Adani Capital was founded in 2017 to democratize access to affordable, convenient lending solutions and support the next generation of MSMEs and entrepreneurs in India. To realize that vision, Adani Capital has built an AUM of nearly $500 million, a network spanning more than 170 branches across eight states, and a team of over 2,500 professionals who expound its “customer-first” culture.

Avendus Capital was the exclusive financial advisor to Adani Capital, Adani Housing Finance and their shareholders on this transaction. Rothschild was the exclusive financial advisor to Bain Capital on this transaction.

Bain Capital has deep experience in investing to support the growth and leadership of a diversified set of financial services businesses in India and across the globe, including Axis Bank, 360One (fka IIFL Wealth), Judo Bank, L&T Finance Holdings, Legacy Corporate Lending, and more.

The transaction is expected to close in Q4 2023, pending necessary regulatory and market approvals.

365 Business Finance and Pollen Street Capital (“Pollen Street”) have successfully completed a 40% increase to Pollen Street’s senior secured credit facility boosting 365 Business Finance’s funding capacity to support SMEs across the UK.

• BPEA EQT led consortium to acquire HDFC Credila, India’s leading provider of tailored financing solutions for students pursuing academic studies in India and abroad
• HDFC Credila empowers India’s growing young population by enabling aspiring students to actualize their dreams of a higher education – having helped more than 124,000 youths enroll to 4,100 academic institutions in 59 countries to date
• The BPEA EQT led consortium also plans to invest INR 20bn primary capital in HDFC Credila to support its next phase of growth and accelerate its digital transformation, while strengthening its footprint in existing markets, leveraging BPEA EQT’s long experience and proven track record in the education sector
• The investment marks the largest ever private equity buyout transaction in the financial services sector in India

EQT is pleased to announce that BPEA Private Equity Fund VIII (“BPEA EQT”), alongside partner co-investor ChrysCapital have agreed to acquire a 90 percent stake of HDFC Credila (the “Company”) for INR 103.5 billion pre-money valuation from its parent company Housing Development Finance Corporation Ltd. (“HDFC”), which will retain a 9.99 percent stake. HDFC Group is one of India’s leading financial conglomerates with interests in housing finance, banking, life insurance, general insurance, asset management, real estate venture funding, and education loans.

Headquartered in Mumbai, India, HDFC Credila is the country’s first and largest dedicated education loan company, supporting tens of thousands of Indian students every year with tailored financing solutions for undergraduate and postgraduate studies. Since its establishment in 2006, HDFC Credila has helped more than 124,000 students enroll to approximately 4,100 universities and academic institutions across 59 countries globally, primarily in the U.S., Canada, the U.K., and Australia, with a higher focus on STEM courses.

There is a growing demand for quality higher education among India’s expanding middle class, which today makes up approximately a third of the country’s 1.4 billion population. With that demand underserved in India, parents and students increasingly look overseas for higher education, and the outflow of Indian students is expected to grow by around 10 percent annually over the coming years. This trend is also driven by favorable immigration policies in developed countries to solve talent shortage due to an aging population, especially for STEM talent, and demand from international universities to increase diversity.

The BPEA EQT led consortium will infuse INR 20 billion of primary capital in HDFC Credila to support its next phase of growth while maintaining the core focus on funding postgraduate studies for Indian students. BPEA EQT aims to accelerate the Company’s digital transformation, leveraging EQT’s in-house digitalization expertise, solid track record within cyber security and credit underwriting, as well as its proven go-to-market capabilities within banking and loan management.

Moreover, BPEA EQT aims to grow HDFC Credila’s footprint and strengthen partnerships with academic institutions in existing and prospective markets, drawing on its long experience in the education sector, having supported its portfolio company Nord Anglia Education’s expansion across 33 countries over the past 15 years, and recently acquired IMG Academy, a world-leading sports education institution in the U.S.

Jimmy Mahtani, Partner and Head of BPEA EQT India, commented, “The demand in India for obtaining a higher education is growing at a faster pace than ever, accelerated by our country’s growing middle class and students’ strive for better career opportunities. Coming out of HDFC Group, one of India’s most respected and well-established financial conglomerates, HDFC Credila plays a critical part in serving this demand. We have been following HDFC Credila for several years and we are excited to partner with its strong management team led by Arijit Sanyal. We also welcome HDFC Group’s decision to retain a minority stake in the business and we see their continued support as a testament to our vision for the company. Looking ahead, BPEA EQT plans to accelerate HDFC Credila’s digital transformation and invest significantly in the Company’s continued growth.”

Arijit Sanyal, CEO of HDFC Credila, said, “Having established ourselves as the largest NBFC in the education finance sector in India, we are delighted to welcome our new investors BPEA EQT and ChrysCapital. Our association with such marquee investors is expected to fuel the next chapter in HDFC Credila’s journey and enable us to scale new heights. We also welcome HDFC’s decision to retain 9.99 percent stake in the Company and look forward to our continued association. I would like to thank all our stakeholders and employees for their continued support. I am extremely optimistic about our future and look forward to the next steps.”

Kosmo Kalliarekos, Partner and Co-Head of Education within BPEA EQT’s Advisory Team, concluded, ”We all know how important education is to get a good start in life. It goes beyond one’s personal development and career as it helps build a better society for future generations. BPEA EQT is proud to support HDFC Credila on its mission to empower aspiring students to achieve their dreams of academic studies, and it resonates well with EQT’s purpose to make a positive impact through our investments. HDFC Credila marks BPEA EQT’s second education investment this year following IMG Academy and we look forward to contributing with our sector experience and networks to ensure that more youths are given access to a good education.”

BPEA EQT was advised by Arpwood Capital, E&Y (financial, tax, ESG, and technology), Awelin (digital),  and JSA (legal).

With this transaction, BPEA Private Equity Fund VIII is expected to be 25-30 percent invested (including closed and/or signed investments, announced public offers, if applicable, and less any expected syndication).

Contact
EQT Press Office, press@eqtpartners.com, +46 8 506 55 334

About BPEA EQT
BPEA EQT is part of EQT, a purpose-driven global investment organization in active ownership strategies. BPEA EQT combines the private equity teams from Baring Private Equity Asia (BPEA) and EQT Asia, creating a comprehensive Asian private equity presence with local teams in eight cities across the region, a 25-year heritage, and more than USD 25 billion of capital deployed since inception. In addition to BPEA EQT, EQT’s strategies in the region include EQT Infrastructure and the real estate division EQT Exeter.

More info: www.eqtgroup.com/private-capital/bpea-eqt
Follow EQT on LinkedIn, Twitter, YouTube and Instagram

About HDFC Credila
HDFC Credila Financial Services Limited is a leading, tech-enabled, fast-growing education sector financier in India. Since inception in 2006, HDFC Credila has enabled over 124,000 young aspirants across 59 countries, 4100+ institutes and 2700+ courses to pursue their dreams of higher education in India and overseas. The Company has a proven track record as market and thought leader in the education finance sector.

More info: www.hdfccredila.com

Waystone is delighted to announce the closing of its transaction with T. Bailey Holdings Limited to acquire T. Bailey Fund Services Limited (TBFS), strengthening its presence in the UK Authorised Corporate Director (ACD) and fund administration market.

The recent high demand for UK domestic products has driven the UK funds industry to promote growth and opportunity to firms that offer both substance and rigorous controls following significant upheaval resulting from Brexit and the demands from a continually evolving UK funds landscape.

Nottingham-based TBFS, is an independent, fully-hosted ACD and fund administration service provider with more than 15 years’ experience in running and administering funds. By coming together with TBFS, Waystone continues to grow its ACD capabilities in the UK with the addition of a well-regarded, comprehensive and premium service provider to meet the needs of its clients alongside growing market demand.

As part of Waystone, the TBFS team will focus on the continuity of its existing premium offering, whilst also being able to service its delegated fund managers with a wider pool of resources and expertise. Waystone’s wealth of knowledge and resources will provide TBFS with enhanced compliance systems and resources to further support its oversight of current and emerging regulatory issues and developments, with its delegated fund managers gaining access to a multi-jurisdictional offering and an institutional-quality fund services provider.

Together, Waystone and TBFS will have ACD-related assets under oversight in excess of £10bn.

Jessica Kirk, CEO of TBFS commented, “The agreement with Waystone provides TBFS with a solid foundation for future growth. TBFS operates in a rapidly-changing industry and maintaining a service that remains both relevant and high quality is key. Experienced personnel, compliance and operations are critical to ensuring our service proposition continually evolves with the needs of the market. TBFS and Waystone have a great deal in common in terms of vision and culture. Our clients will continue to be serviced from our Nottingham office and the TBFS management team are excited to join the Waystone UK Senior Management team. We look forward to working together to provide the UK funds industry with a high-quality and personal service proposition.”

The agreement with Waystone provides TBFS with a solid foundation for future growth.

Rachel Wheeler, CEO Global Management Company Solutions, Waystone added, “The addition of TBFS means we are able to offer our clients a premium, fully serviced ACD offering built on robust foundations, allowing us to meet the growing demand from the UK funds industry looking to launch domestic products. This combination demonstrates our commitment to the UK market and the importance we see for it in the global fund industry. The combined personnel will exceed 70 employees working together to support an exceptional and growing client base.”

This combination demonstrates our commitment to the UK market and the importance we see for it in the global fund industry.