Proventus Capital Partners responds to increasing demand for capital and attracts an additional SEK 2.1 billion.
Proventus focuses on financing for companies in need of capital for expansion, acquisition financing, restructurings and refinancing, as well as investments in listed corporate bonds.
“The markets for loans outside the banking system and for corporate bonds are becoming increasingly attractive against the backdrop of the business community’s extensive need for financing and restructuring in the years ahead, and we anticipate steadily growing demand,” says Daniel Sachs, CEO of Proventus. “It is gratifying that we can now further develop our operations and be able to make bigger investments together with co-investors.”
In 2009, Proventus organized these operations in Proventus Capital Partners with 216 million euro in capital from Proventus and external investors in an initial co-investment vehicle. In May 2011, Proventus Capital Partners II was established with capital of SEK 5.3 billion.
Proventus Capital Partners II has now raised an additional SEK 2.1 billion from some of their current investors, in a parallel structure, after which its capital amounts to SEK 7.4 billion. This allows Proventus Capital Partners to provide larger financings: up to SEK 1 billion in a single investment. As a whole, Proventus Capital Partners now has the equivalent of slightly over SEK 9 billion, or more than 1 billion euro, in assets under management.
Investors in Proventus Capital Partners II include the pension funds of Electrolux, Ericsson, SEB and Volvo; the insurance companies Folksam, Länsförsäkringar and SPP; The Fourth Swedish National Pension Fund's (AP4), the Nobel Foundation and the Swedish Foundation for Strategic Research. Proventus AB is the largest investor in Proventus Capital Partners.
Proventus is a privately held company that has been active in the Nordic and European capital market for more than 40 years. Proventus invests in companies in change and provides development capital through debt financing for mid-sized companies in need of growth and restructuring capital and through investments in public corporate bonds. Within the scope of this investment direction Proventus invests its own and external funds through the co-investment vehicle Proventus Capital Partners. In addition, Proventus actively contributes to the development of its equity holdings and has its own asset management operations. Proventus is also one of the founders of Berättarministeriet and is involved with the cultural institutions Magasin 3 Stockholm Konsthall and the Jewish Theatre in Stockholm. Proventus is founded and owned by Robert Weil.
For further information, please contact:
Daniel Sachs, CEO Proventus, tel: +46 8 723 31 04