ATP and PFA sell stakes in VIA equity
ATP has entered into sale and purchase agreements with Five Arrows Managers and Cubera, respectively, on the purchase by Five Arrows Managers and Cubera of ATP’s ownership stake in VIA equity Fond II K/S.
ATP and PFA have entered into sales and purchase agreements with Five Arrows Managers and entities advised by LGT Capital Partners Ltd., respectively, on the purchase by Five Arrows Managers and entities advised by LGT Capital Partners Ltd. of ATP’s and PFA’s ownership stakes of VIA equity Fond III K/S.
The closings of the above transactions are subject to certain conditions, including approval by the Danish Financial Supervisory Authority in respect of the transactions related to VIA equity Fond III K/S. Subject to fulfilment of the conditions, closing is expected to occur during Q1 or Q2 2020.
During Summer 2019 ATP and PFA decided not to participate as investors in VIA equity Fond IV (currently in a fundraising process). Consequently, a sales process concerning ATP’s ownership stake in VIA equity Fond II K/S and ATP’s and PFA’s ownership stakes in VIA equity Fond III K/S was launched.
“I am satisfied with the sales process. It proves that VIA equity has had high international standards and ATP is proud to have participated in founding a private equity fund which has performed well. However, time is up for a strategic change. We want to simplify our organization and to a larger extent participate in the broader Danish financial ecosystem using the experience we have gathered over the years in future partnerships with other players in Denmark,” says Bo Foged, CEO of ATP.
Subject to closing, the above transactions entail that ATP will have disposed of its entire ownership stake of VIA equity Fond II K/S and ATP and PFA will have disposed of their entire ownership stakes of VIA equity Fond III K/S.
Following the above transactions, ATP expects to wind up VIA equity Fond I K/S which has reached the end of its lifetime.
After closing, VIA equity will continue operating out of Hellerup.
About VIA equity
VIA equity is a Northern European multi-stage private equity fund, investing in both large, medium and small-sized companies. VIA equity a/s was founded in 2006 by the managing partner with ATP as sole investor in the first two funds. When VIA equity Fond III K/S was established in 2016, PFA joined as investor on terms equal to ATP.
VIA equity Fond I K/S, Fond II K/S and Fond III K/S all have a confirmed capital of DKK 1 billion (i.e. DKK 3 billion in total).
About Five Arrows Managers
Five Arrows Managers is Rothschild & Co’s private equity and private debt investment arm, managing approximately €13 billion in capital globally. This includes a series of funds dedicated to corporate and secondary private equity, fund investments and co-investments, as well as senior and junior credits. Its secondary activity focuses on European and US small and mid-market fund managers. It recently closed its fifth secondary fund at 1bn€. The team operates since 2003 and has offices in Paris, New York and Luxembourg.
About LGT Capital Partners
LGT Capital Partners is a leading alternative investment specialist with over USD 60 billion in assets under management and more than 550 institutional clients in 37 countries. An international team of over 500 professionals is responsible for managing a wide range of investment programs focusing on private markets, liquid alternatives and multi-asset class solutions. Headquartered in Pfaeffikon (SZ), Switzerland, the firm has offices in New York, Dublin, London, Paris, Vaduz, Dubai, Beijing, Hong Kong, Tokyo and Sydney.
About Cubera
Cubera is a specialized investment firm offering investors tailored and diversified exposure to private equity. On behalf of Nordic and International clients, the firm advises more than EUR 3.5 billion out of offices in Oslo and Stockholm.