3i Group has announced it is selling its minority stake in Soyaconcept to the company’s co-founders, according to a statement.
The London-based investment manager has doubled the return on the original investment it made in 2008, to support the female clothing wholesaler’s global expansion plans.
“Soyaconcept has demonstrated that it has a strong business model by achieving significant growth in recent years, including expansion into a number of new markets,” Mattias Eklund (pictured), 3i’s partner and co-head of the Nordic region, said in the statement. “We are confident that the team will continue to deliver great value for money for its customers and develop the company through further international growth.”
3i’s debt management sector closed the Jamestown VI fund at $750 million (£485.16 million; €672.67 million) in February, making it the firm’s biggest collateralised loan obligation to date. 3i has managed 27 funds in total, with £11.70 billion in assets currently under management.
Soyaconcept is active in 11 European countries and Canada. This transaction involved the recommendation of 3i Investments with 3i Sweden as the advisor.