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IK exits survival kit maker Hansen Protection to Survitec Group after eight-year hold

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IK Investment Partners has exited survival kit manufacturer Hansen Protection to trade buyer Survitec Group after eight years in its portfolio.

The European private equity firm acquired a majority stake in Hansen from Montagu Private Equity in 2013.

Under IK’s ownership the company has bolted-on a survival suit rental company in the Netherlands, a protective rainwear manufacturer in Denmark and a PPE rental services for the offshore wind industry.

IK previously attempted to exit the company through an IPO in 2018, but that was cancelled due to the plunging of stock prices according to a Bloomberg report from the time.

Terje Gorm Hansen, CEO of Hansen Protection, commented: “It has been our privilege to have partnered with IK, an organisation that shares our Nordic roots and drive for excellence. With their support, we have strengthened our product range and service standards to better serve those that rely on us through the most challenging conditions.”

Recent Nordic deals from IK include the acquisition of wealth manager Formuesforvaltning in partnership with Intermediate Capital Group.

Last May IK raised its biggest ever fund by some margin by hitting a €2.85bn hard cap final close for its ninth midcap vehicle.

That fund came in €1bn larger than the €1.85bn Fund VIII the firm closed in 2016.

Copyright © 2021 AltAssets

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Source: https://www.altassets.net/private-equity-news/by-news-type/deal-news/ik-exits-survival-kit-maker-hansen-protection-to-survitec-group-after-eight-year-hold.html

Private Equity

Berkeley Energy’s Africa Renewable Energy Fund II secures €130m as DFIs pour capital into vehicle

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Green energy investment house Berkeley Energy has hit a €130m for its Africa Renewable Energy Fund II, putting it almo

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Source: https://www.altassets.net/private-equity-news/by-news-type/fund-news/berkeley-energys-africa-renewable-energy-fund-ii-secures-e130m-as-dfis-pour-capital-into-vehicle.html

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Private Equity

Peter Thiel backs Norway’s SNÖ Ventures as firm eyes $100m for Fund II raise

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Norway’s SNÖ Ventures has picked up backing from billionaire entrepreneur Peter Thiel for its $100m-targeting second fundraise.

Norwegian pension fund KLP, Investinor and Northzone co-founder Karl Christian Agerup are also committed to SNÖ Fund I, which has held its first close.

The firm, which targets seed and Series A companies, said it planned to expand into the Swedish and Danish markets.

SNÖ partner Max Samuel, who recently joined the firm from Thiel Capital, said, “The unique cultural, economic and geographic traits of the Nordics contribute to the success of its thriving startup ecosystem.

“We aim to enhance this ecosystem by facilitating the sharing of resources, talent, ideas and experience throughout the Nordic region, and by leveraging our international networks to support Nordic companies in their global expansion.”

Thiel will also join the firm as a strategic partner in addition to his investment.

SNÖ, which was founded in 2015, has recently invested in companies including PortalOne alongside Theil’s Founders Fund, Seedcamp and Kitemaker.

Copyright © 2021 AltAssets

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Source: https://www.altassets.net/private-equity-news/by-pe-sector/venturegrowth/peter-thiel-backs-norways-sno-ventures-as-firm-eyes-100m-for-fund-ii-raise.html

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Private Equity

Asset management industry outlook moves from ‘negative’ to ‘stable’ – Moody’s

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Moody’s Investor Services has revised up its outlook for the global asset management industry to stable, three mon

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Private Equity

HSBC Asset Management merges $53bn alternatives operations as next step to repositioning business

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HSBC Asset Management is bringing its alternative assets operations into a single unit managing and advising $53bn after

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