Kinnevik co-sponsors West African private equity fund and commits to
invest USD 15 million
(Thomson Reuters ONE) - Investment AB Kinnevik (publ) ("Kinnevik") and Asset & ResourceManagement Company Ltd ("ARM"), a leading Nigerian asset managementand financial services group, have joined forces to create one ofWest Africa's leading private equity funds. The fund combinesKinnevik's international experience with the investment managementexpertise, local resources and robust network of one of the largestasset management firms in West Africa.The fund's investment team is based in Lagos, Nigeria, and consistsof professionals that have gained significant experience in Africaand other emerging markets with leading companies such as J.P. Morganand GE Capital. Kinnevik will own 30% of ARM Capital Partners (thefund management company), and Kinnevik and ARM are demonstratingtheir strong commitment to the investment team by committing USD 15million each to the first fund that will be launched this fall."Sub-Saharan Africa provides attractive growth and investmentopportunities. By setting up a West African private equity firm inNigeria together with a leading local partner and staffed with highlyqualified international and local management, Kinnevik can morebroadly capture these opportunities", says Henrik Persson, Head ofNew Ventures.Deji Alli, Managing Director and CEO of ARM, adds "ARM has asuccessful track-record of investments in private companies. We aredelighted that we, through our partnership with Kinnevik, are in aposition to formalise a solid platform to direct needed capital toand help create value in some of Nigeria's fastest growing andwell-managed companies."The investment comes in addition to the Kinnevik group's existingsuccessful African investments within mobile telephony throughMillicom, microfinance through Bayport and broadcasting throughModern Times Group.In addition to the strong commitment of its sponsors, the fund isalso raising capital from third party investors and is currentlydiscussing limited partner investments with a group of local andinternational institutions with interest in the region.For further information, visit www.kinnevik.se or contact:Henrik Persson, Head of New Ventures +46 (0)8 562 000 00Torun Litzén, Director Investor Relations +46 (0)8 562 000 83 +46 (0)70 762 00 83ABOUT KINNEVIKInvestment AB Kinnevik's objective is to increase shareholder value,primarily through net asset value growth. Kinnevik manages aportfolio of investments focused around three comprehensive businessareas; Major Unlisted Holdings which includes the cartonboard andpaper company Korsnäs including shares in Bergvik Skog, Major ListedHoldings which includes Millicom International Cellular, Tele2,Modern Times Group MTG, Metro International and Transcom WorldWide,and New Ventures which is active in finding new investments in smalland mid sized companies which has a significant growth potential.Kinnevik plays an active role on the Boards of its holdings.The Kinnevik's class A and class B shares are listed on the NASDAQOMX Stockholm's list for large cap companies, within the financialand real estate sector. The ticker codes are KINV A and KINV BABOUT ARMAsset & Resource Management Company Ltd ("ARM") was established in1994, and has evolved into one of the most respected financialservices brands in Nigeria. ARM is a diversified and integrated,non-bank financial services institution with over 15 years ofinvestment management expertise. The business comprises non-pensionasset management, pension fund administration, trust services, realestate management and development, infrastructure finance anddevelopment, investment banking and financial advisory services.http://hugin.info/1114/R/1336947/318336.pdfThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 25.08.2009 - 12:01 Uhr
Sprache: Deutsch
News-ID 5059
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