Private equity firm Elements Capital Partners has acquired 40.84 per cent of NFD, the Slovenian mutual fund company.
Along with the NETA financial group, the two companies now control 82 per cent of NFD. Financial terms have not yet been released and the transaction is subject to regulatory approval.
Headquartered in Ljubljana, NFD is Slovenia's largest mutual fund group with over EUR80m in assets under management.
"NFD has a footprint in the Balkans that few other firms have, in addition to a seasoned management team," says Karl E White, one of the three founders of Elements Capital. "This transaction is a considerable accomplishment for us and an excellent example of the exciting investment opportunities in the rapidly developing South East Europe region."
The acquisition of NFD by Elements provides the company with a vehicle and management team that allow them to be in the best possible position to benefit from the expected recovery in the Balkan markets, especially Greece.
"Our vision is that of firmly establishing NFD as the premier mutual fund company in the Balkans," says White.
NFD's flagship NFD 1 investment fund has been one of the best performing funds since its inception back in 1998. NFD currently has EUR82m under management within its umbrella fund.
