Secondary private equity firm Paul Capital has acquired an interest in a portfolio of private equity assets managed by alternative asset manager Cognis Capital.
The transaction, approximately EUR70 million, is comprised of 20 mostly European assets across a diverse range of industry sectors. The Paul Capital investment, made through Ffenics I Fund LP, a newly formed vehicle, will also provide follow-on capital to the existing investments. This transaction provides liquidity to investors but also granted them the option to rollover their investment into the new fund.
“Cognis has built a promising portfolio and we are delighted to partner with their talented team and give them the opportunity to create maximum value in their portfolio,” says Elaine Small (pictured), Partner at Paul Capital’s London office.
“This transaction with Paul Capital allows us to provide liquidity to our investors whilst continuing to develop this portfolio of assets,” says Myra Tabor, CEO of Cognis Capital. “We have been very impressed by Paul Capital’s professional approach in delivering this challenging and complicated deal” added Simon Jones of Cognis Capital.
“We were privileged to collaborate with a first-rate team like Cognis to develop a unique solution for them and their investors,” says Sabina Sammartino, Principal at Paul Capital in London.
