Mizuho Financial Group and WiL Establish Joint Venture focused on New Business Creation

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Mizuho Financial Group and WiL Establish Joint Venture Focused on New Business Creation

Mizuho Bank, Ltd. (President & CEO: Koji Fujiwara) , a core subsidiary of Mizuho Financial Group, Inc. (Presid
ent & Group CEO: Yasuhiro Sato), and WiL LLC. (CEO: Gen Isayama, referred to along with its subsidiaries
as “WiL Group” below) are pleased to announce the establishment of Blue Lab, Co., Ltd. (President, CEO, & Representative Director: Daisuke Yamada) for the purpose of creating new business.
Blue Lab aims to drive business generation through innovative technological advances, including
those being made by shareholders who have contributed to the establishment of the company (listed
below) in their own fields. More specifically, Blue Lab is focused on the creation and commercialization of next
-generation business models through FinTech initiatives such as the creation of a global settlement platform,
development of software to automate operational tasks using AI and big data, and optimization of
supply chain management and trade finance through commercialization of blockchain technology, as
well as through IoT-related advancements within the shareholders’ respective industries and in general.
Mizuho is committed to pursuing the incorporation of new, innovative technologies into our
business in order to provide customers with consistently better services.

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Schroders completes acquisition of Adveq

Schroder Adveq

Schroders is today announcing the completion of the acquisition of Adveq, a leading asset manager investing in private equity globally.

The acquisition, which was announced on 20 April 2017, has now received approval from the regulators. Adveq has been renamed Schroder Adveq.

The acquisition of Adveq accelerates the growth of Schroders private assets business, with more than $7 billion of client commitments, complementing existing capabilities and expertise in the real estate and infrastructure finance sectors.

Sven Lidén, CEO of Schroder Adveq commented:

“We are pleased to have received such a high level of support from our clients and other stakeholders for our partnership with Schroders.

Schroder Adveq, as we are now known, remains committed to delivering the strong investment performance and high quality client service that investors have come to expect from our team over the 20 years since we first launched.”

Stephen Mills has joined the Schroder Adveq board as Executive Chairman. Bruno Raschle, founder of Schroder Adveq, remains on the board in a new capacity of non-executive Vice Chairman.

Headquartered in Switzerland, Schroder Adveq employs over 100 people around the world. Adveq’s clients include some of the largest and most highly regarded institutional investors and pension funds in Switzerland and Germany. In recent years, Adveq has also successfully established a premium client base in the US and other international markets.

For further information on Schroder Adveq, please contact:

Anelia Fikiina, CNC Communications

Tel: +44 (0)203 219 8887 /  schroderadveq@cnc-communications.com

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Partners Group secures EUR 6 billion for direct private equity

Partners Group, the global private markets investment manager, has received record commitments for its 2016/17 direct private equity vintage. The 2016/17 vintage consists of the flagship program Partners Group Direct Equity 2016, which was capped at EUR 3 billion, together with EUR 3 billion of additional capital committed to direct private equity.

Investors in the program constitute a mix of new and existing clients, including public and corporate pension plans, sovereign wealth funds, insurance companies, endowment funds and foundations from around the world. Partners Group’s founders, partners, and other employees, together with affiliates of the firm, are making a substantial investment into the program, committing in excess of 5% of Partners Group Direct Equity 2016.

Partners Group Direct Equity 2016 is the successor to Partners Group Direct Investments 2012, which closed in early 2014 and has a net IRR of 23.9%.1 Like the 2012 program, Partners Group Direct Equity 2016 will be deployed globally on behalf of investors in mid-market and select large-cap companies across a broad range of industry sectors, including healthcare, education, business services, information technology, industrials, and consumer. Partners Group’s investment strategy involves identifying transformative growth trends within specific sub-sectors and finding the companies best-placed to profit from these trends with the help of an active value creation strategy.

David Layton, Partner and Head of Private Equity at Partners Group, states: “In a sluggish macroeconomic environment, we are concentrating our efforts on specific market niches that are experiencing above-average growth. Within these pockets of growth, we look for companies with recurring revenue streams and highly visible cash flows, which are not only well-positioned to perform during a variety of economic scenarios but show significant upside potential and a clear path to value creation.”

Among the transformative trends prioritized within Partners Group’s current relative value outlook are the rise of outsourcing in healthcare and information technology, the digitalization of business services and consumer companies, and the emergence of new business models in consumer services and social infrastructure.

At the time of its final close, Partners Group Direct Equity 2016 was already committed to a number of investments in line with these investment views, including US-based Curvature (formerly Systems Maintenance Services and SMS | Curvature), a global provider of IT network and data center lifecycle services; Cerba HealthCare, a leading European operator of clinical pathology laboratories; and Aavas Financiers (formerly Au Housing Finance), a provider of housing loans in India’s affordable housing segment.

Fredrik Henzler, Partner and Co-Head of Industry Value Creation at Partners Group, comments: “We have more than 160 separate value creation initiatives ongoing at our current lead- and joint-lead portfolio companies. Almost 50% of these are top-line focused projects aimed at increasing market share, while the other 50% are either bottom-line focused efficiency drives or risk-reduction strategies. The extensive sector experience of our global Industry Value Creation team enables us to work alongside management teams to implement such projects and ensure their effectiveness.”

This structured approach to value creation has contributed to measurable results for Partners Group’s existing direct private equity portfolio, which has recorded compound annual growth rates of 15% in terms of revenue and 19% in terms of EBITDA since 2014.2

Christoph Rubeli, Partner and Co-CEO, Partners Group, adds: “We would like to thank our direct private equity investors for placing their trust in our firm in a challenging investment environment characterized by high valuations. With more than 700 private markets platform professionals globally and a highly selective investment approach, we believe we have the sourcing capabilities and the investment discipline required to continue to generate solid returns.”

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Kinnevik invests a further USD 65 million in Betterment

Kinnevik

Kinnevik AB (publ) (“Kinnevik”) today announced an investment of USD 65m into Betterment LLC (“Betterment”), the largest independent automated investing service company in the United States, as the company extends its financing round from last year.

The USD 70m extension to the March 2016 financing round was done by existing investors and led by Kinnevik. The transaction is subject to customary US regulatory approvals, and is expected to be completed by end of August. Post the investment, valuing Betterment at USD 800m, Kinnevik will own 16% of the company’s share capital.

Betterment is the largest independent automated investing service in the United States, managing nearly USD 10bn of assets for more than 270,000 customers. Since Kinnevik’s initial investment in March 2016, Betterment has grown their assets under management by over 135% and launched a series of industry-leading product innovations. In addition to the market’s leading digital investing service, customers now also have access to licensed financial advisors on the phone, advanced tax-efficiency tools and a range of other new features that helps them achieve better returns at low and transparent fees.

Kinnevik’s acting CEO, Joakim Andersson, commented: “The follow-on investment into Betterment forms part of our strategy of growing our ownership share in key private assets, as well as strengthening our financial services vertical. Betterment has continued to impress us with its strong growth, customer-centric focus, cutting-edge technology and talented team. We are excited to provide additional capital to the company to accelerate the roll-out of further products and services to help customers maximise their returns. “

“Kinnevik and Betterment have formed a strong partnership over the last year, and we welcome their increased commitment to our growth story” added Jon Stein, CEO and Founder of Betterment. “We are uniquely positioned to help our customers get better advice and the returns they deserve, and the additional funding will fortify our ability to build personalised financial services around the customer to allow them to optimise their financial life.”

 

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

Torun Litzén, Director Investor Relations
Phone +46 (0)8 562 000 83
Mobile +46 (0)70 762 00 83

 

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Mirabaud Asset Management launches Private Equity Business

Paris, 4 July 2017 – Mirabaud Asset Management has expanded its offering, which already covers several asset classes, to include a new growth industry: the private equity business. To implement this strategy, Mirabaud Asset Management has enlisted the services of Renaud Dutreil, former French Minister of Small & Medium-Sized Businesses and former Chairman of LVMH North America; he will be supported in this remit by Luc-Alban Chermette. This is the first fund dedicated to entreprises du patrimoine vivant (living heritage companies) and was launched today with a first closing of 50 million euros.

In line with the entrepreneurial approach of the Group, which was founded in 1819, Mirabaud Asset Management aims to be an innovator in the private equity business. An initial theme-based fund dedicated to entreprises du patrimoine vivant in the luxury and lifestyle sector has been successfully launched today. An initial transaction of 50 million euros was closed with the participation of top-tier private and institutional investors. Located in Paris, the team in charge of implementing the private equity strategy is headed up by Renaud Dutreil, Head of Private Equity with Mirabaud. The second and final closing of this new fund is scheduled for the end of the year on a total amount of 150 million euros.

This new offering will enable family-run SMEs that have been active not only in France but also in Switzerland, Italy and other European countries for at least 50 years to receive assistance for their international development and their innovation strategy. This assistance will be provided not only in the form of investment, but equally in strategic, legal, managerial, marketing and business advice to promote economic growth.

A successful launch

Lionel Aeschlimann, Managing Partner of the Mirabaud Group and CEO of Mirabaud Asset Management, is excited about the implementation of the private equity strategy. “It is extremely satisfying to develop a sector of activity in which we have bold ambitions and which suits us. In addition, in Renaud Dutreil we have found a top-quality professional who through his international experience, his creditability within the economic fabric of French and European SMEs, and his passion for the world and spirit of entrepreneurship will help us to offer our clients – families, entrepreneurs and institutions – first-class solutions in the field of private equity. This first theme-based product dedicated to patrimoine vivant has attracted a great deal of interest and the success of the second and final closing is already taking shape.”

For Renaud Dutreil, “the Mirabaud Group has all the characteristics investors are looking for: an international presence on a human scale, a clear and specialized positioning, a proactive management approach, a passion for investing, entrepreneurship and the business world in general, a real long-term vision, and a DNA that puts excellence and the alignment of interests at the heart of its value chain. For Luc-Alban and myself, working with Mirabaud and its almost 200 years of family and entrepreneurial history in the world of management and investment was the obvious choice. The industrial living heritage has always been my passion. In my time as Minister I was instrumental in the creation of the entreprise du patrimoine vivant label. As an investor I am determined to give these European flagships all the necessary means for a successful future.”

Renaud Dutreil, former Minister of Small & Medium-Sized Businesses, Commerce, Consumer Affairs, and Crafts and Liberal Professions within the French government (2002–2007), was Chairman of LVMH North America for four years. He has solid experience of private equity in the areas of SMEs, both within France and internationally. This experience comes from his role on the Board of Directors of the L Capital Europe fund for several years, from his responsibility within the LVMH group, and from the investments he has made in a private capacity. Within the scope of his former government functions, Renaud Dutreil was instrumental in the creation of the entreprise du patrimoine vivant label – www.patrimoine-vivant.com – as well as the Dutreil Acts facilitating the financing and transfer of SMEs in France.

Luc-Alban Chermette has over 15 years of experience in the field of private equity, involving more than forty transactions assisting SMEs of all sizes, often with excellent knowledge in a wide range of business areas. One of Luc-Alban Chermette’s most noteworthy roles was as Chairman of La Vélière Capital, a management company registered with the Financial Market Authority, between 2010 and 2016.

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Markus Hökfelt will head Almi Invest’s new Green Tech Fund

Markus Hökfelt, current Vice President at Fortum Charge & Drive, has been recruited to Almi Invest. Where he takes up August 21 in service as Fund Manager at Almi Invest’s new National Green Tech fund of 650 million.

Markus Hökfelt, who is an engineer in the ground, has built its expertise and experience from a number of senior positions at Fortum, founder of start-up companies as well as a management consultant at Accenture.

The purpose of Almi Invest Green Tech fund is to bridge the marknadsgap that exists between demand and supply of venture capital investments in innovative companies that contribute to the reduction of greenhouse gases. Fund is open for investment in a variety of areas such as renewable energy, smart grid, biogas, Agritech, advanced environmentally friendly materials, sensor networks like. Co-financiers to fund the ALMI, Almi Invest Energy Agency and the European Regional Development Fund.

At Almi Invest will also be responsible for investment in green tech area. The fund aims to invest in 50 companies until the 2023rd

I am driven by the combination of innovation, entrepreneurship and sustainability creates new business opportunities. Green Tech Fund offers great opportunities to work with some of Sweden’s most promising growth companies in the energy and environmental sector where the need for venture capital is high. We look forward to co-invest with private venture capital firms and business angels to double capital to companies and share the financial risk. The fund will be ready to invest in early growth in Q4, says Markus Hökfelt, incoming Fund Manager at Almi Invest Green Tech Fund

We are delighted to welcome Markus Hökfelt to us. In recent years we have focused more and more on the importance of sustainable investments, both at the time of investment, and as we develop the portfolio companies until the exit. With Mark’s extensive background and our new fund, we will strengthen our skills and and increase our investments in green tech area, says Mikael Karlsson, CEO Almi Invest

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Markus Hökfelt will head Almi Invest’s new Green Tech Fund

Markus Hökfelt, current Vice President at Fortum Charge & Drive, has been recruited to Almi Invest. Where he takes up August 21 in service as Fund Manager at Almi Invest’s new National Green Tech fund of 650 million.

Markus Hökfelt, who is an engineer in the ground, has built its expertise and experience from a number of senior positions at Fortum, founder of start-up companies as well as a management consultant at Accenture.

The purpose of Almi Invest Green Tech fund is to bridge the marknadsgap that exists between demand and supply of venture capital investments in innovative companies that contribute to the reduction of greenhouse gases. Fund is open for investment in a variety of areas such as renewable energy, smart grid, biogas, Agritech, advanced environmentally friendly materials, sensor networks like. Co-financiers to fund the ALMI, Almi Invest Energy Agency and the European Regional Development Fund.

At Almi Invest will also be responsible for investment in green tech area. The fund aims to invest in 50 companies until the 2023rd

I am driven by the combination of innovation, entrepreneurship and sustainability creates new business opportunities. Green Tech Fund offers great opportunities to work with some of Sweden’s most promising growth companies in the energy and environmental sector where the need for venture capital is high. We look forward to co-invest with private venture capital firms and business angels to double capital to companies and share the financial risk. The fund will be ready to invest in early growth in Q4, says Markus Hökfelt, incoming Fund Manager at Almi Invest Green Tech Fund

We are delighted to welcome Markus Hökfelt to us. In recent years we have focused more and more on the importance of sustainable investments, both at the time of investment, and as we develop the portfolio companies until the exit. With Mark’s extensive background and our new fund, we will strengthen our skills and and increase our investments in green tech area, says Mikael Karlsson, CEO Almi Invest

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Georgi Ganev appointed CEO of Kinnevik

Kinnevik

Kinnevik AB (publ) (“Kinnevik”) today announced that it has appointed Georgi Ganev as its Chief Executive Office with effect from 1 January 2018.

Chairman of the Board of Kinnevik, Tom Boardman, commented:

“In Georgi Ganev, Kinnevik will have a CEO with a keen appreciation of Kinnevik’s strategy, our markets and our companies. Georgi combines a successful track record as a CEO, taking a fast-growing digital e-commerce company public, with a solid experience from the Nordic TMT sector. I am very pleased that he has accepted the position as CEO of Kinnevik in our next phase of identifying, scaling and transforming businesses to continue to create value for our shareholders.”

Georgi Ganev commented:

“I am proud and excited to become the CEO of Kinnevik. Having started my career at Tele2, I know that Kinnevik has a unique culture and capability as a business builder. Using my operational experience that I have gained across relevant sectors I will focus on unlocking further value from Kinnevik and its portfolio companies. I also look forward to working with the Kinnevik team and the broader network of founders, boards and management teams to continue to grow the digital investment business.”

Georgi Ganev joins Kinnevik from Dustin where he has served as CEO since 2012. He is also a board member of Tele2 since 2016. Prior to Dustin Georgi was CMO at Telenor Sweden AB between 2010-2012 and CEO of Bredbandsbolaget AB 2007-2010. Between 2002 and 2007, Georgi worked within the Kinnevik Group as Sales & Marketing Director and Product Manager at Tele2. Georgi holds a MSc in Engineering in Information Technology from Uppsala University.

Joakim Andersson will remain Acting CEO of Kinnevik until Georgi Ganev assumes the position as CEO on 1 January 2018.

 

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Adelis Equity Partners Closes €600 million Second Fund

Adelis

Adelis Equity Partners Fund II has held a final close. The Fund will continue its predecessor fund’s focus on investments in the Nordic lower mid market.

Adelis Equity Partners Fund II (Adelis II) was launched in March 2017 and closed on its hard cap of €600 million on June 9, 2017. Investors include leading pension funds, foundations and fund-of-funds from Europe and North America. Adelis’ employees have committed to invest €30 million.

Adelis Equity Partners Fund I closed on SEK 3.7 billion in October of 2013 and has so far invested in twelve companies in Sweden, Denmark and Finland. These portfolio companies have in turn made more than 20 add-on acquisitions.

Adelis II will continue its predecessor fund’s successful strategy of acquiring majority interests in Nordic companies with Enterprise Values between €20 million and €200 million.

“We are grateful for the strong support from our existing investors and very pleased to have broadened our investor base with several blue chip institutions from Europe and North America” says Jan Akesson at Adelis.

Adelis received legal advise from O’Melveny Myers and Vinge in the fundraising process. Park Hill Group served as exclusive placement adviser

For further information:

Jan Akesson, Partner, +46 8 525 200 01

Adalbjörn Stefansson, Head of Investor Relations, +46 8 525 200 04

About Adelis Equity Partners

Adelis is an active investor and partner in creating value at medium sized Nordic companies. Adelis was founded in 2012 with the goal of building the leading middle market investment firm in the Nordics. Adelis’ team members have extensive Private Equity experience, have invested in over 50 companies and have been members of the board in more than 50 middle market companies. For more information please visit www.adelisequity.com .

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Ratos presents updated strategic agenda

Ratos, in conjunction with its Capital Markets Day being held today, is presenting an updated strategic agenda. Through increased value creation and earnings levels in the portfolio companies, the long-term intention is to lay the foundation for a larger part of cash-flow-generated financing of the future dividends of the Ratos share. The investment interval for new investments has been updated and the central management costs have been reduced through internal efficiency measures. Ratos has chosen six sectors to focus its acquisition and company development efforts on going forward.

Ratos’s CEO Magnus Agervald comments:

“Ratos will continue to operate under the same business concept, but with increased focus on acquisition and company development efforts within six sectors. We regard Ratos as having a unique position in the market, with our flexible investment horizon, strong brand and history, and a transparent and value-driven culture. We also have broad expertise, a large network and extensive experience in operational development,” says Ratos’s CEO Magnus Agervald.

“To gain greater flexibility to make new acquisitions, we are changing our lowest investment interval and lowering the upper interval to create a better spread of risk in the portfolio. We are working closely with our portfolio companies to take measures more quickly, but also to continue investing in and focusing on improvement programmes in the companies that we regard as having continued potential. Through higher levels of earning in our portfolio companies and through ownership of certain companies over a longer time, our long-term ambition is to be able to finance a larger portion of the Ratos share dividends through cash flow from the portfolio companies.”

“In addition to these initiatives, we have been working for some time to improve our internal processes and operations, which has enabled a reduction in our central costs. Ratos has progressed from operational management costs of SEK 261m for 2016 to the current SEK 150m on a prospective annual basis.”

Changed investment criteria
To create greater flexibility to make new acquisitions, the former lowest investment interval of SEK 250m in equity has been removed. The goal for new acquisitions is instead that the company in question must have the potential to reach SEK 0.5 billion in equity in the next five years. The upper investment interval has been lowered from SEK 5 billion in equity to SEK 2 billion in equity to create a better balance and risk spread in the portfolio.

Long-term ownership provides the opportunity to finance the Ratos share dividend
Ratos’s potential for long-term ownership is a strength in many investments, particularly partnerships in which we develop companies in cooperation with the former owners. Owning and developing profitable companies over a long period of time provides the possibility of receiving continuous cash flow from these portfolio companies. In the future, it should be possible to partly finance the dividend of Ratos’s common share using the current cash flow from the portfolio companies. Ratos will thus own certain companies for a longer time and work to reduce the debt level in the companies to enable dividends from these.

Focus on more rapid change
We are increasing our impatience of companies that do not deliver the desired results by taking measures more quickly, and continuing to invest in and focus on improvement programmes in the companies that we regard as having continued favourable potential.

To build internal structural capital and competence more effectively, Ratos has changed its working methods and the investment organisation is now structured in six sectors; Business Services, Construction, Consumer/Retail/Leisure, Healthcare/Lifescience, Industrials and TMT (Technology, Media, Telecom). Ratos has also launched a number of operational focus areas to effectively support the development of the companies. Such examples are Purchasing, Digitalisation and Sustainability.

Ratos’s central costs
In the past year, Ratos’s central organisation has undergone efficiency enhancements, which has led to a smaller organisation and, accordingly, reduced central operational management costs. Ratos’s operational management costs are expected to be approximately SEK 150m on an annual basis in the future (compared with SEK 261m for 2016) excluding transaction and financing costs.

The presentations at today’s capital markets day are available at www.ratos.se

For further information, please contact:
Magnus Agervald, CEO Ratos, +46 8 700 17 00
Helene Gustafsson, Head of IR & Press, +46 8 700 17 98

– See more at: http://www.ratos.se/en/Press/Press-releases/2017/Ratos-AB-Ratos-presents-updated-strategic-agenda/#sthash.NQMxZeV8.dpuf

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