Company announcement no 8 2011/12
Copenhagen 11 July 2011
Investment commitment to EQT VI
Scandinavian Private Equity A/S (SPEAS) has made an investment commitment of EUR
10m to the private equity fund EQT VI.
EQT is a leading European private equity company. In total, EQT funds have
invested approximately EUR 9.7bn in over 85 companies.
EQT VI's investments will - in line with the previous EQT equity fund, EQT V, -
focus on controlling interests in medium-sized and large companies mainly in the
Nordic countries and Germany with investments in each company typically in the
range of EUR 75m-400m.
Including EQT VI, SPEAS has made investment commitments to seven selected
private equity funds, which SPEAS considers to be among the top funds within
their segments: EQT V, EQT VI, IK 2007, Apax Europe VII, Litorina III, Litorina
IV and Herkules III.
SPEAS's outstanding investment commitments to private equity funds total DKK
323m (based on the latest interim report), which the funds may invest in new
companies over the next years. Investments in private equity funds including the
uncalled investments commitments total DKK 1,090m, equal to 122% of equity,
which stood at DKK 893m at 30 April 2011.
SPEAS's exposure to EQT V and EQT VI totals DKK 419m (based on the latest
interim report) with DKK 311m for investments (EQT V) and DKK 108m for uncalled
investment commitments (EQT V and EQT VI). The total exposure equalled 47% of
equity as at 30 April 2011.
With this investment commitment, the Board of Directors has decided, by way of
exception, to dispense with the Company's investment guidelines stipulating that
investment commitments to private equity funds with the same manager must not
exceed 40% of the Company's equity. The reason for dispensing with the
investment guidelines is that it is considered essential to SPEAS's future
access to well-performing funds that the Company supports new funds from
existing private equity companies, always provided that the investment is
considered attractive. Moreover, since the Company was set up, EQT has been a
significant business partner, and the investment commitment was thus made prior
to SPEAS's IPO and was referred to in the prospectus.
More information on EQT is available on the fund's website, www.eqt.se.
For further information, please contact:
Ole Mikkelsen, CEO, tel +45 70 25 10 55, mobile +45 30 66 96 30
[HUG#1530043]
