Pembroke VCT launches new £20m offer with over allotment facility for further £20m

Pembroke

Pembroke VCT, the venture capital trust focused on building the consumer brands of tomorrow, has launched a new share offer to raise up to £40 million (an initial £20 million,with an over-allotment facility for a further £20 million).The additional cashwill allow the company to grow its existing portfolio and take advantage of a healthy pipeline of prospective investment opportunities.Pembroke VCT gives investors the opportunity to share in the growth of some of the UK’s most exciting and innovative smaller companies, across industries with strong growth prospects. It has total assets of over £110million (31August 2020). Since its launch in 2012, Pembroke VCT has invested£75million in45 companies,helping strong management teams realise their vision for building consumer-focused brands.New investors will gain immediate access to a maturing portfolio of growing businesses and to a well‑established dividend‑paying VCT. The portfolio includeshigh growth, innovative brands–such as Plenish, Popsa, Kinteract, ME+EMand Pasta Evangelists–in the design, education, food, beverage & hospitality, wellness, digital services and media sectors.Additionally, Pembroke intends to use the funds raised to make a number of follow‑on investments in portfolio companies, where further capital will accelerate their growth plans. Pembroke partners with founders and its ‘Stepping Stone’ investment process provides additional funding to take advantage of growth opportunities that emerge during the journey. Andrew Wolfson, CEO of Pembroke Investment Managers LLPcommented; “Weinvest in exceptional foundersthat we believe in,and work alongside themto supporttheircontinued growth through our strategic and operational expertise.This new offer will not only allow us to growour existing portfolio, but also to invest in new companies that we believe have the potential to become the consumer brands of tomorrow.”

-ENDS-NOTES

TO EDITORS

Pembroke VCT

Pembroke VCT plc, managed by Pembroke Investment Managers LLP, is a VCT with a difference –offering much more than capital. Pembroke finds exceptional founders to grow the consumer brands of tomorrow, across industries with exciting growth prospects. Pembroke only invests in companies where it can add value over and above simply providing capital, where it is confident its resources and experience can be most instrumental in their growth. The VCT gives investors the opportunity to share in the growth of some of the UK’s most exciting and innovative smaller companiesin the design, education, food, beverage & hospitality, wellness, digital services and media sectors.

Andrew Wolfson, CEO, Pembroke Investment Managers LLP

CEO Andrew Wolfson is responsible for executing the firm’s strategy, leading the investment team, deal origination and supporting portfolio companies. Andrew sits on the board of a number of Pembroke’s investments. Prior to the launch of Pembroke, Andrew was a Director at Oakley Capital and worked with smaller portfolio companies including KX and James Perse. Before joining Oakley, Andrew ran several businesses working across a breadth of sectors from hospitality to manufacturing and telecoms. Andrew is also a director of Benesco Charity Limited, and a trustee of The Charles Wolfson Charitable Trust.

Press Office

Zoe Powelle:zpowell@sharecomms.co.ukdd: 020 7071 3932m: 07866 639014

Sarah Plevnike:splevnik@sharecomms.co.ukdd:020 7074 3571m:07789 725585

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Euronext and CDP Equity Confirm Exclusive Talks with LSEG to Acquire Borsa Italiana

Cdp Equity

Amsterdam, Brussels, Dublin, Lisbon, Oslo, Paris and Rome – 18 September 2020 –

Euronext and CDP Equity (“CDPE”, 100% owned by Cassa Depositi e Prestiti), confirm they have entered into exclusive talks with London Stock Exchange Group plc (“LSEG”) to acquire Borsa Italiana group, together with Intesa Sanpaolo. There can be no certainty that this will lead to a transaction.

The proposed combination of Borsa Italiana and Euronext would create a leading player in continental European capital markets. This transformational project would position the newly formed group to deliver the ambition of further building the backbone of the Capital Markets Union in Europe, while at the same time supporting local economies.
Italy, through Borsa Italiana, would become the largest revenue contributor to the enlarged Euronext group. As a new major country in the Euronext federal model, Italy would be represented at group level of Euronext governance by Italian representatives, in the Reference Shareholders, the Supervisory Board, the Managing Board and the College of Regulators supervising Euronext group’s activities.
If the discussions lead to the successful completion of the transaction, and as part of the partnership entered on 11 September 2020 (1), CDP Equity and Intesa Sanpaolo would join the existing group of Euronext long-term Reference Shareholders (2) through the subscription of a reserved capital increase, with CDPE acquiring a stake in line with those held by the largest reference shareholders of Euronext, and having a representative at the Supervisory Board of Euronext. A second Italian candidate would be proposed as an independent member of the Supervisory Board and would become the Chairman of the combined group. Consob would be invited to join Euronext’s College of Regulators, becoming part of the supervision of Euronext at group level pari passu with other European regulators with a rotating chair every semester. Direct regulatory oversight of Borsa Italiana would remain unchanged allowing Consob and Banca d’Italia to continue directly supervising Borsa Italiana’s activities.

Borsa Italiana would maintain its current functions, structure and relationships within the Italian ecosystem and preserve its Italian identity and strengths. The Italian CEO of Borsa Italiana would join the Managing Board of Euronext. The CEO of MTS would join the extended Managing Board, alongside the other key leaders of large business units and key central functions of Euronext, with group-wide responsibilities for fixed income trading. Borsa Italiana’s knowledge, expertise and understanding of the specific features of the Italian market would be a fundamental element of enrichment for Euronext, and would be valued and preserved. The combined group would strengthen Borsa Italiana as the go-to venue for listing and trading in Italy and continue to develop their programmes to facilitate the access to equity financing for companies, with a specific focus on SMEs.
Key businesses and central functions of the new group would be based in Milan and Rome. In particular, MTS, which operates interdealer, Dealer-to-Client and Repo markets, primarily for European Government Bonds, with a focus on Italian markets, would become the group’s European Center of Excellence for fixed income trading. Cassa di Compensazione e Garanzia S.p.A. (“CC&G”) would be the clearing house within the combined entity and would become a key pillar of the enlarged Euronext’s post-trade strategy. In addition, Monte Titoli S.p.A., the Italian Central Securities Depository (“CSD”), offering issuance, settlement and custody services would become the largest CSD within the Euronext group, becoming a key contributor to Euronext’s CSDs ambition. The leadership of group finance function would be located in Milan.
Euronext is committed to maintaining an investment grade credit rating and its robust financial structure. The potential transaction would be financed through a mix of (i) existing available cash, (ii) new debt and (iii) new equity in the form of a reserved capital increase to CDPE and Intesa Sanpaolo and a rights issue to Euronext’s shareholders.

The terms of any transaction remain subject to the three partners’ Managing Board and Supervisory Board approvals and there can be no certainty that a transaction will take place. Should the parties enter into binding agreements, any potential transaction will be dependent upon the outcome of the European Commission’s review of the Refinitiv transaction and that transaction closing in accordance with its terms, and will be subject the approval of Euronext’s shareholders, regulatory approvals, and other customary conditions.
A further announcement will be made as and when appropriate.

(1) Please refer to the press release published on 11 September 2020, available at: https://www.euronext.com/fr/node/1667751
(2) For more details about Euronext’s reference shareholders, please refer the 2019 Universal Registration Document available at https://www.euronext.com/en/investor-relations/financial-information/financial-reports

 

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SHIFT Invest raises EUR 70 Million for the largest Dutch impact venture capital fund

Shift Invest

SHIFT Invest raises EUR 70 Million for the largest Dutch impact venture capital fund

 

Today, SHIFT Invest announced that it has attracted an additional EUR 23 Million in the second close of its new VC fund SHIFT III. SHIFT Invest’s 3rd impact fund has been oversubscribed and is more than double the size of its predecessor fund.

 

 

The need for disruptive technologies is ever growing

The unprecedented pressure we humans are putting on biodiversity and the way we are changing the Earth’s climate, needs to be drastically limited. We need many forms of solutions, coming from academia, governments, international institutions and from businesses. New ways of thinking and disruptive technologies are key and part of the required actions. However, to bring technology solutions to the market and scale them to create significant impact, capital is required. SHIFT III, together with all Dutch technical Universities and the Dutch research institute TNO, selects the most promising technologies led by ambitious and high performing teams. SHIFT is an early stage investor and typically invests in concept stage, Seed and Series A rounds. SHIFT III also backs its portfolio companies in larger follow-on funding rounds (Series B and C) until exit.

Accelerating ‘tough technologies’ together with a broad range of investors

SHIFT III was created to accelerate companies disrupting the agro-food, biobased or environmentally high burden value chains. A successful first close last February included commitments from cornerstone investor Rabo Corporate Investments, family offices, Dutch regional development funds, Wageningen U&R and other universities as well as successful startup entrepreneurs who were backed by our previous funds. Half a year down the road, SHIFT welcomes new investors such as EIF and Corbion in order to back more ambitious entrepreneurs and create more impact. The European Investment Fund encourages investments in SHIFT’s focus areas and has put a clear commitment to the fund for the coming years. With its contribution, SHIFT III has become the biggest impact investor of its kind in the Netherlands.

Alain Godard, Chief Executive of the EIF, stated: “Climate change is on top of the agenda also for the financing world. The European Investment Fund fully supports the development of a European environmentally-conscious VC ecosystem, which can stimulate the emergence and market introduction of groundbreaking innovation with a positive and fundamental impact on climate and the environment. Such an ecosystem could significantly contribute to societal and economic change.”

Industry and family offices turning more and more towards meaningful investments

“We are seeing an increasing amount of family offices and corporates realizing that their contribution is needed for the urgent shift to a different and circular economy”, says Florentine Fockema Andreae, partner at SHIFT Invest. Partnering with Corbion, a new investor in the fund, provides synergies within the framework of industry knowledge and supporting early stage innovation. “At Corbion, addressing climate change is a business opportunity. We are very excited to join this impact focused innovation platform as this fits seamlessly with our Advance 2025 strategy that is focused around preserving what matters. Open innovation is essential in the transition toward a world in which our planet’s natural boundaries are respected”, says Marcel Wubbolts, Chief Science & Sustainability Officer at Corbion.

Largest seed & early stage impact investor in the Netherlands

SHIFT Invest has been an impact investor long before ’impact investing’ emerged as an industry itself.  In 2009, SHIFT started its first impact fund and invested in, among others, Protix, ChainCraft and Vandebron. SHIFT’s professional fund management can build on long lasting relationships, years of experience in venture capital, a strong reputation and many good and a handful of bad practices. This is why so many investors have committed to the fund: to make a difference and contribute to our shared impact goal of ‘Turning investments into impact’.

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Ardian Expansion closes fifth generation fund at €2Bn

Ardian

  • 16 September 2020 Expansion Paris, France

• Ardian Expansion team has doubled the size of its previous fund
• Objective: back ambitious management teams of high-growth mid-sized businesses across Europe

Paris, September 16th, 2020. Ardian, a world leading private investment house, today announces it has raised €2 billion for its latest Expansion fund, Ardian Expansion Fund V. Despite a backdrop marked by the Covid-19 outbreak, Ardian has doubled the size of its previous fund in six months, highlighting investors’ continued interest in European high-growth mid-sized companies.

Ardian Expansion Fund V attracted a global and diverse investor base. Investors from the previous generations of the fund represent 50% of Fund V, highlighting their long-term trust in the team, while more than a third of the fund’s investors are new to Ardian, also showing the attractiveness of the product. The fund expanded its geographic reach by attracting new investors, notably from Asia and the Middle East.

The fund is also broadening its investor profile, welcoming for the first time sovereign wealth funds, alongside insurance companies, high-net-worth individuals and pension funds. Several managers of Ardian Expansion’s portfolio companies also made commitments, which amount to nearly 5% of the size of the fund, illustrating the quality of the relationships built over the years.

Made of 27 professionals, Ardian’s Expansion team based in Paris, Frankfurt, Milan and Luxembourg, will strengthen the implementation of its successful strategy: to support talented entrepreneurs in pursuing their organic growth plans – Ardian Expansion’s portfolio companies achieved over 10% organic growth historically – and external – nearly four acquisitions in average per company – while enhancing their strategic value by accelerating their transformation plans.

François Jerphagnon, Head of Ardian Expansion, said: “We are honored by the trust shown by our investors. Doubling the size of the previous generation in six months demonstrates the success of our strategy and the quality of our financial performance. This success also underpins the interest in the investment philosophy we have built over the last 20 years: to focus on developing strong relationships with experienced and dedicated management teams, leveraging the Ardian’s network to fasten value creation for all stakeholders.”

Ardian’s Expansion team is focused on building long-term relationships with management teams, on average initiated three years prior to investments. The team is able to take either minority or majority stakes emphasizing its flexible approach. Expansion team’s philosophy is also reflected in the team’s strong track record of supporting management teams on digital and sustainability transformation plan. Ardian backs both digital transformation plans, such as for Diam and CCC, as well as established digital native players, such as CLS and Berlin Brands Group. Pioneer in the concept of sharing value, Ardian and the Expansion team distributes part of its capital gain to all employees of its portfolio companies at exit. Nearly 15 Expansion portfolio companies have benefited from the value sharing initiative since the mechanism was introduced more than ten years ago.
Despite the economic slowdown due to the Covid-19 outbreak, Ardian Expansion’s team has maintained an active investment pace in 2020. Expansion team has focused on companies displaying strong organic and external growth and operating in resilient sectors. The Fund is already deployed at 10% with two investments completed since May 2020: Swissbit (signed during the lockdown period), a Swiss provider of NAND flash-based storage and embedded IoT solutions for demanding niche applications with considerable organic growth potential, and Finaxy (signed in July), a leading French multi-specialist insurance broker with a strong track-record of organic and external growth. Management team involvement was also key in the completion of those transactions.

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$100bn managed or advised in Europe, the Americas and Asia. The company is majority-owned by its employees. It keeps entrepreneurship at its heart and focuses on delivering excellent investment performance to its global investor base. Through its commitment to shared outcomes for all stakeholders, Ardian’s activities fuel individual, corporate and economic growth around the world.

Holding close its core values of excellence, loyalty and entrepreneurship, Ardian maintains a truly global network, with more than 690 employees working from fifteen offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), the Americas (New York, San Francisco and Santiago) and Asia (Beijing, Singapore, Tokyo and Seoul). It manages funds on behalf of around 1,000 clients through five pillars of investment expertise: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.

PRESS CONTACT

Ardian – Headland

Carl LEIJONHUFVUD

CLeijonhufvud@headlandconsultancy.com +44 (0)20 3805 4827

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Goodie Nation Receives Financial & Resource Support from Fulcrum Equity Partners

Fulcrum

Fulcrum Equity Partners has partnered with Goodie Nation to support a new generation of diverse entrepreneurs.

Fulcrum Equity Partners, a leading growth equity firm headquartered in Atlanta, has partnered with Goodie Nation, a collective impact initiative that helps to fill the funding gap for diverse led (Black, Latinx or Women) startups, social impact startups, and tech talent training programs. Fulcrum has pledged to fund a capital grant and will be donating their time and expertise to Goodie Nation’s mentorship program.

“Goodie Nation has a phenomenal program that addresses an urgent need in our entrepreneurial community,” says Jeff Muir, Partner at Fulcrum. “Our goal is to help in their mission of closing the disparity between historically underfunded and underrepresented communities in Atlanta and beyond.”

Goodie Nation’s flagship program is The Intentionally Good Project which accelerates relationships with:

  • Influencers for endorsements and key advisor roles
  • Large organizations for paid pilots and strategic partners
  • Investors and funders for financial capital

They focus on intentionally building a pipeline from the next generation of leaders to the resources needed to reach their potential.

Goodie Nation’s development of tech talent pairs well with Fulcrum’s rich experience with funding and growing profitable technology companies, a step forward to creating a more equitable future for entrepreneurs of all backgrounds.

“Providing the intersection between capital partners and startups that are ready to accelerate to the next stage of their growth is at the crux of what we do,” states Joey Womack, Founder and CEO of Goodie Nation. “We’re excited to partner with Fulcrum and leverage their expertise to continue furthering our mission.”

About Goodie Nation
Goodie Nation is a community of good people playing a role in an innovative process reducing some of the world’s largest basic need disparities. They envision a world where every innovative company has an official policy to donate office hours, warm introductions, and opportunities to succeed to the next generation of diverse founders and social entrepreneurs. Their programming serves as platforms and networks, which fosters collaboration and support that solves some of the world’s toughest problems. It is tech done right. Learn more at http://www.goodienation.org.

About Fulcrum Equity Partners
Fulcrum Equity Partners is an Atlanta-based growth equity firm that manages over $500 million and provides expansion capital to rapidly growing companies led by strong entrepreneurs and management teams. Fulcrum targets companies within healthcare services, healthcare IT, B2B software, and technology-enabled services. Fulcrum’s initial target investment is $3 million – $15 million to provide financing to meet a wide range of needs, including internal growth initiatives, acquisitions, divestitures, shareholder liquidity and recapitalizations. The partners have over 140 years of relevant experience in Fulcrum’s target markets, including significant operating experience in senior executive positions at companies that grew rapidly and enjoyed successful exits. Additionally, Fulcrum’s limited partners include over 100 current or former business owners/CEOs of leading companies in a wide variety of industries that provide a rich resource for the firm and portfolio companies. Learn more at http://www.fulcrumep.com.

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CVC Credit Partners closes Apidos XXXIII CLO Fund

CVC Credit Partners has closed CLOs in both the U.S. and Europe in the last month

CVC Credit Partners (“CVC Credit”) is pleased to announce that it has closed Apidos XXXIII, a Collateralized Loan Obligation (“CLO”) fund totalling $400 million. This is the second CLO fund CVC Credit has closed in the last month, following the closing of Cordatus XVII in June. Together these funds total $720 million (€630 million) of new issuance and increase CVC Credit Partners global CLO asset under management to approximately $15.8 billion.

Adipos XXXIII, was arranged by Goldman Sachs and is CVC Credit’s second new-issue to close in the U.S. in 2020. As with previous Apidos CLOs, the fund is primarily comprised of broadly syndicated First Lien Senior Secured Loans.

Cordatus XVII is a €290 million European focused CLO arranged by Natixis. This was CVC Credit’s first European CLO closed in 2020, having completed three in 2019. European CLO assets under management now stand at c.$6.3 billion.

Gretchen Bergstresser, Global Head of Performing Credit at CVC Credit Partners, said: “Pricing and closing two CLOs in such quick succession is a great result, and all the more impressive in the context of the challenging economic conditions of the past few months. Both U.S. and European raisings have been a real team effort with our New York and London based teams working simultaneously across both CLOs.

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NewSpring Promotes Three Team Members

Newspring

NewSpring (the “Firm”), a family of private equity strategies, is pleased to announce the promotions of three individuals that exemplify the Firm’s dedication to value creation for its portfolio companies and investors.

Lee Garber has been promoted to Partner of NewSpring HoldingsMike Kubacki has been promoted to Chief Financial Officer of the Firm, and Bharat Santhanam has been promoted to Senior Associate dedicated to NewSpring Growth. These professionals have each taken on expanded and elevated roles at NewSpring in support of the overall mission of the Firm to not only source and invest in the best opportunities, but to continue to provide exceptional value creation and investment results to its Limited Partners and drive future growth throughout all areas of NewSpring.

Lee Garber has been with NewSpring Holdings since its inception in 2013 and with NewSpring since 2012.  NewSpring Holdings manages a consolidated business with over $525 million in revenue, employing and contracting with over 6,000 people.  With an entirely hands-on role in each of the strategies’ 23 transactions since inception, Lee has been an integral team member, driving the underwriting and management of investments and deploying over $180 million in equity capital.

“Lee has been a leader on the NewSpring Holdings team since day one,” said Skip Maner, NewSpring General Partner. “With our long-term hold strategy, his ability to conceptualize, implement, and manage operational improvements for each of our companies translates directly to their success.  We’re thrilled to recognize his accomplishments thus far and look forward to seeing what he will accomplish in this new role.”

Lee sits on the Board of NewSpring platform companies, Financeware, USPack, Magna5, and E3/Sentinel and is currently serving as the Chief Administrative Officer of E3/Sentinel to drive growth and value creation.

Mike Kubacki joined NewSpring in 2013 and has played a critical role in supporting the Firm’s finance, IT, and infrastructure functions. He will continue to focus on elevating all these crucial processes and will also work closely with NewSpring President, Jon Schwartz, to manage the Firm’s compliance operations.

“Mike’s meticulous attention to detail combined with his innate understanding of both his profession and our business make him perfectly suited to serve as NewSpring’s Chief Financial Officer,” said Jon Schwartz, NewSpring President and Chief Operating Officer.  “Mike has already demonstrated great leadership in the financial operations of our organization, and we’re excited to see him build on this momentum.”

Since joining NewSpring Growth in 2019, Bharat Santhanam has demonstrated an aptitude for evaluating transactions and strategy execution. In his role as Senior Associate, he will leverage his background in investment banking and consulting across all stages of the investment lifecycle, including sourcing, diligence, and portfolio value creation.

The Firm has a strong track record of promoting from within and developing key talent. This team continuity maintains the consistency of our approach that has been a key success driver for over 20 years.

“NewSpring prides itself on providing career-advancement opportunities internally to those that are pushing our organization forward,” Schwartz said. “Lee, Mike, and Bharat have earned their promotions through their impressive accomplishments, and we’re pleased to welcome them into their new roles.”

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EQT concludes strategic review of Credit business segment with sale to Bridgepoint

eqt

EQT AB (“EQT”) today announced that following the review of future strategic options for the business
segment Credit (“Credit”), a definitive agreement has been reached to sell the Credit business to
Bridgepoint (the “Transaction”). Despite the difficult market environment, there was considerable
interest in the business. The sale ensures that Credit gets a new owner able to support its growth
prospects and permits EQT to further focus its efforts on building scalable value-add strategies
focused on active ownership.

Established in 2008, Credit is the smallest of EQT’s three business segments with approximately EUR
4 billion of assets under management (“AUM”) as of 31 December 2019 in three complementary
strategies: Special Situations, Direct Lending and Senior Debt. This represented around ten percent of
EQT’s total AUM. The Credit business segment had total revenues of EUR 35.8 million and a gross
segment result of EUR 12.3 million in the financial year ended 31 December 2019. The business
segment employs approximately 40 professionals, including five Partners. Since inception, Credit has
raised over EUR 7 billion of capital and invested in over 180 companies.

Christian Sinding, CEO of EQT AB, said: “This is an important step on our path of focusing on
investment strategies which can fully utilize EQT’s governance and impact ownership model. We are
delighted to have found such a great new home for the Credit business segment and the dedicated
team of credit specialists. Together with Bridgepoint, the Credit platform is well positioned to capture
the future growth prospects and develop its offering even further. I would like to take this opportunity to
thank Andrew Konopelski and the entire Credit team for their contribution to EQT. It has been a great
collaboration over the last 12 years and I wish them well in the next stage of their journey.”

Andrew Konopelski, Head of EQT Credit, continued: “As part of EQT, we have developed a diversified
credit platform capable of investing across the capital structure. We have grown and implemented a
thematic and due-diligence focused investment approach and an operational mindset. The resilience
of the portfolios during these unprecedented times demonstrates the strength of our model as we look
toward the future. We are excited by the considerable opportunities that we see ahead for private
credit. With Bridgepoint as our partner, we will undoubtedly continue our growth path together while
sharing similar values. I would like to thank the entire EQT community for their support over the
years.”

William Jackson, Managing Partner at Bridgepoint, added: “This moves our credit strategy and
ambitions significantly forward and provides further diversification for the Bridgepoint Group in line with
our strategic objective of offering a broader range of compelling middle market focused alternative
asset investment strategies. It will also broaden Bridgepoint Credit’s geographic exposure with an
enhanced presence in the Nordic region, Germany and the US, adding to our existing teams in
London and Paris.”
PRESS RELEASE 18 June 2020
EQT AB (publ)
Regeringsgatan 25
SE-111 53 Stockholm
Sweden Tel: +46 8 506 55 300
VAT number: SE556849418001

The Credit segment will be reported as discontinued operations in the half year report. The
Transaction is not expected to have a material impact on EQT AB’s central functions. The proceeds
are expected to be used to continue to deliver on EQT’s defined growth strategy.
The Transaction is subject to customary closing conditions, including regulatory, anti-trust and certain
fund investor clearances, with completion expected to take place in the fourth quarter of 2020. The
parties have agreed not to disclose the terms of the Transaction. JP Morgan has acted as financial
advisor and Kirkland & Ellis and Travers Smith as legal advisors to EQT on the Transaction.

Contact
Kim Henriksson, CFO, +46 8 506 55 300
Nina Nornholm, Head of Communications, +46 70 855 03 56
EQT Press Office, press@eqtpartners.com, +46 8 506 55 334

About EQT
EQT is a differentiated global investment organization with a 25-year track-record of consistent
investment performance across multiple geographies, sectors, and strategies. EQT has raised more
than EUR 62 billion since inception and currently has around EUR 40 billion in assets under
management across 19 active funds within three business segments – Private Capital, Real Assets
and Credit.

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

The EQT AB group comprises EQT AB (publ) and its direct and indirect subsidiaries, which include
general partners and fund managers of EQT funds as well as entities advising EQT funds. EQT has
offices in 17 countries across Europe, Asia Pacific and North America with more than 700 employees.

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

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Bridgepoint to acquire EQT’s private debt business

Bridgepoint

Bridgepoint, the international alternative asset manager, is to acquire EQT Credit for an undisclosed sum. The acquisition will be combined with Bridgepoint’s existing credit business, with the enlarged group having total AuM of c.€7 billion.

Commenting on the acquisition, Bridgepoint managing partner William Jackson said: “This moves our credit strategy and ambitions significantly forward and provides further diversification for the Bridgepoint Group. This is in line with our strategic objective of offering a broader range of compelling middle market focused alternative asset investment strategies.

“It will also broaden Bridgepoint Credit’s geographic exposure with an enhanced presence in the Nordic region, Germany and the US, adding to our existing teams in London and Paris,” he said.

Established in 2008, EQT Credit has total AuM of €5.6 billion* across its two core strategies of Direct Lending and Special Situations, a team of 27 investment professionals based in London, New York, Munich and Stockholm and employs approximately 40 colleagues in total.

The transaction is subject to regulatory and other consents and is scheduled to complete in the fourth quarter of 2020.

Advisers to Bridgepoint in this transaction included: Rothschild & Co (M&A), PwC (financial & tax dd, structuring), Clifford Chance and Simpson Thacher (legal), Lockton (insurance).

*comprises fee generating AUM and further committed but undrawn capital.

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Launch of Franche-China Coorporation Fund

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Eurazeo

BNP Paribas, China Investment Corporation (“CIC”) and Eurazeo are pleased to
announce the launch of the France-China Cooperation Fund with the first close
for 400m€. The Fund will be managed by Eurazeo.

The Fund is being established following plans previously announced in 2019, including a
memorandum of understanding and a subsequent letter of intent signed in the presence of
Presidents Xi Jinping and Emmanuel Macron. The Fund has now held a first close for a total
amount of €400m, underwritten entirely by the BNP Paribas Group, CIC and Eurazeo.
The Fund will seek to invest in French and Continental European companies aiming to open
new pathways for growth in China.

Target companies are expected to be in sectors with significant opportunity in China and where
Eurazeo has an established and strong track record, including advanced industrials, business
services, consumer goods and services, healthcare, and digital technology. The Fund is
actively seeking new investment opportunities alongside Eurazeo’s middle market buyout
strategies, Eurazeo Capital and Eurazeo PME.

The partnership will uniquely draw on the expertise of CIC, BNP Paribas and Eurazeo, namely:
• CIC’s support of the Fund’s investee companies in facilitating their entry into and
development within China;
• BNP Paribas’ deep expertise, local presence and extensive networks of contacts in
France and in Europe;
• Eurazeo’s private equity expertise and recognized ability to grow businesses
internationally, particularly through its local presence in China since 2013.
The initial partners may commit up to an additional €250m to the fund, within a limit of 25% of
the Fund for each of BNP Paribas and CIC. Additional capital may be also raised from third
parties.

Press contacts
BNP Paribas
Sandrine Romano – sandrine.romano@bnpparibas.com – +33 (0)6 71 18 23 05
CIC
Yan Wang – pr@china-inv.cn – +86 (10) 8409 6277
Eurazeo
Havas Paris – Maël Evin – mael.evin@havas.com – +33 (0)6 44 12 14 91

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