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CORONAVIRUS
CEPRES is offering a Risk Analysis & Rating Dashboard on its platform to support LPs in understanding the impact of the Covid-19 crisis on their portfolios.
CEPRES’ Health Check Rating System is based on the CEPRES Platform’s flexible analysis dashboarding system and can inform investors on whether their private market portfolio is in good position to face major challenges ahead. The Platform allows the rating of users’ portfolios according to a predictive methodology derived on the granular analysis of development pattern of more than 80,000 portfolio company investments during former crises and recovery phases, as well as CEPRES’ own economic
CORONAVIRUS
The coronavirus crisis and nationwide lockdown have given clarity on how to evaluate companies’ ability to tackle social issues, “crystallising” what the S in ESG stands for, according to Bas NieuweWeme, CEO of Aegon Asset Management.
The impact from coronavirus and the changes to the way people have had to both work and live means this has now come to the forefront, according to the investment manager.
“The lockdown has allowed a crystallisation of the real performance on social issues versus mere policies and positioning,” said NieuweWeme.
He continued: “We can now look at how companies have behaved
FUNDRAISING
The CEPRES Private Capital Market Outlook for the first quarter of 2020 using the latest data from the CEPRES Platform shows how buyout fundraising in the US declined by almost 50 per cent QoQ and 20 per cent YoY, but is still substantially above volumes during the post-GFC era of 2009 -2012. Buyout fundraising volume in Europe is in stark contrast with a sharp decline of over 70 per cent QoQ and YoY, making it the lowest quarter since late 2017.
US buyout fund net IRR returns declined sharply between 2003 and 2006, which were the vintage years immediately preceding the impending crisis
NEWS
Investment company Kinnevik has agreed to sell 23.2 per cent of the shares in Nordic digital commerce group Qliro Group to Swedish VC fund Rite Ventures.
The deal is expected to close in the third quarter of 2020. As a partial payment for the sold Qliro Group shares, Kinnevik will receive up to 47,439 shares in MatHem, corresponding to 0.5 per cent of the total number of shares in the company.
The balance will be paid through a promissory note from Rite Ventures, which under some circumstances provides for a purchase price adjustment.
The total consideration that Kinnevik expects to
NEWS
The Luxembourg-domiciled euro denominated structure closed with EUR 260 million of commitments on 27 March, surpassing its EUR200 million target.
Neuberger Berman launched the Crossroads funds of funds platform in the early 1980s, with the aim of constructing diversified private equity portfolios across asset classes, strategies and geographies.
The new fund, NB Euro Crossroads 2018, invests concurrently with the international fund; together they have commitments of over USD1 billion.
Investors include pension funds, insurance companies and family offices from continental Europe and the Nordics. “We identified demand in Europe for a Luxembourg domiciled euro denominated structure,” said Dik van Lomwel,
CORONAVIRUS
Funds4Food is aiming to raise cash to aid relief efforts for victims of Covid-19 with two weeks of virtual one-on-one meetings between alternative asset managers and leading allocators in what is being described as the world’s largest cap intro event.
NEWS
Water Street Healthcare Partners and JLL Partners have agreed to acquire and grow Solvias, a contract research, development and manufacturing company based in Switzerland.
NEWS
Zürich-based private equity firm Evoco has held a first close of its third fund, Evoco TSE III SCSp at EUR93 million, representing more than 50 per cent of the target size of its third institutional fund.
Domiciled in Luxembourg, Evoco TSE III SCSp has a target size of EUR150 million. Investments into the fund came in from several European investors, including existing LPs as well as new investors. The Evoco team also committed more than EUR6 million alongside the other parties.
Evoco acquires controlling stakes in European mid-sized companies and supports them to drive profitability through innovation, governance, and scaling
NEWS
Spanish biotech VC firm Ysios Capital has held a first close of its third fund, Ysios BioFund III, at EUR155 million.
The fund has a final target size of EUR200 million. Ysios Capital is the largest venture capital firm in Spain specialised in biotechnology with EUR346 million under management through three funds; Ysios BioFund I, Ysios BioFund II Innvierte and Ysios BioFund III. The firm expects to close four new investments shortly.
“For this third fund, we have a pipeline of very promising projects at advanced stage, both in Spain and in the rest of Europe, and we aim to
NEWS
EQT Ventures has added deal partner Rania Belkahia to its team in the firm’s new Paris office.
With the opening of the new office in France, EQT Ventures now has teams on the ground in Paris, San Francisco, Berlin, Stockholm, London and Amsterdam. The firm’s current French portfolio companies include Tinyclues and Calldesk.
“The EQT Ventures team is delighted to have Rania on board to lead our search for exceptional founders in France and drive our ‘locals with locals’ approach from the new Paris office,” said Alastair Mitchell, partner and investment advisor at EQT Ventures.
Belkahia will be leading all
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