CapMan cuts Access Capital Partners stake by 12.5 percent

Helsinki Stock Exchange-listed CapMan has sold a 12.5 percent stake in Access Capital Partners, a French private equity fund of funds investor, as the firm approaches its hard cap for two new funds of funds.

CapMan, a Nordic private equity firm, has reduced its holding in Access Capital Partners, the French fund of funds manager it founded in 1998.
CapMan has sold 12.5 percent of its shares in Access Capital Partners to management for an undisclosed sum. The Nordic firm reduced its shareholding from 47.5 percent to 35 percent, with management holding the remainder.

This transaction is about giving [Access Capital Partners] a good platform to develop the company further and motivate the management.

Vesa Vanha-Honko, senior partner, CapMan

Vesa Vanha-Honko, head of business development and senior partner at CapMan, said there are no current plans for CapMan to sell its remaining stake in Access Capital Partners. He said: “If you look at Access Capital Partners, they are in a very strong development and growth phase and have been for a couple of years. This transaction is about giving them a good platform to develop the company further and motivate the management.”
Vanha-Honko pointed to Access Capital Partners’ current fundraising for its €250 million ($314 million) targeted buyout fund of funds and its third European technology venture capital fund of funds, along with a number of promotions, as evidence of its current development.
CapMan founded Access Capital Partners alongside managing partner Dominique Penninon, formerly at Rothschild, Natexis and BNP Private Equity; and partner Agnès Nahum, previously at CDC and Natexis and BNP Private Equity. CapMan’s chief executive Ari Tolppanen is chairman of Access Capital Partners’ supervisory board, while Vanha-Honko is one of its members.

Vanha-Honko: no plans to sell remaining stake in Access Capital Partners

Access Capital Partners manages in excess of €1.2 billion of assets and employs 20 staff, of which nine are investment professionals.
In separate news, CapMan and Finnish investor Helmet Capital have sold their respective 40 percent and 11 percent stakes in Helsinki-based jewellery retailer Kultajousi Oy for an undisclosed sum.