Nordic Capital successfully closes its milestone EUR 2.5bn continuation vehicle
Category: Transactions Year: 2018
Nordic Capital successfully closes its milestone EUR 2.5bn continuation vehicle for its seventh fund
Campbell Lutyens is pleased to have advised Nordic Capital’s Fund VII on its innovative secondary transaction, which provides Fund VII portfolio companies with the opportunity to maximise their value creation potential over the next five years. The transfer of the remaining nine unlisted portfolio companies, with a combined enterprise value of EUR 4.4bn, to a continuation vehicle, Nordic Capital CV1 (“CV1”), marks the successful conclusion of a highly-structured process with strong interest, which commenced in 2017.
Attractive pricing was established through a competitive auction process, which resulted in a EUR 2.5bn (USD 3bn) transaction and represented an 11% premium to the latest quarterly valuation (as at 30 September 2017).