The Belgian government has released a new compromise - Unquote

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funds unquote Name Verdane Capital VII K/S Closed SEK 1.5bn+ (August 2010) Focus Direct secondary, Nordic Contact Bjarne Lie Address PO Box 1216 Vika NO-0110 Oslo Norway Tel: +47 24 13 70 00 Fax: +47 24 13 70 01 E-mail: office@verdanecapital.com Advisers Jefferies (Placement agent); Andulf Advokat AB (Legal) Verdane fund reaches final close above target Fund Verdane Capital Partners’ fund, Verdane Capital VII K/S, reached final close in August, above its SEK 1.5bn target. The secondary direct fund, launched in April 2009, is said to have a lifespan similar to market standard and the investment period is approximately four years. Minimum subscriptions were set at SEK 10m. The terms and conditions of the fund were not disclosed, although management fee, carry and hurdle were said to be market standard. Jefferies acted as placement agent for the fund, while Andulf Advokat AB was legal adviser during the fundraising process. Verdane’s new fund is 50% larger than its predecessor, Verdane Capital VI, which raised SEK 1bn and has now been fully invested. Investors Verdane Capital VII attracted commitments from seven new investors, including 23 existing investors with Argentum as one of the cornerstones. The majority of investors were Nordic, with approximately 25% of commitments coming from European and US family offices and funds-of-funds. Investors from the Nordic region included AP3, Argentum, Finnish Industry Investment, Gjensidige Forsikring, KLP, Kommunal Landspensjonskasse, Mandatum Life and RealDania. Investors outside the region include ConocoPhillips Pension Fund, Dahlia and Masseran. The GP also contributed towards the fund. Investments The secondary direct fund acquires portfolios of unlisted assets and has acquired 35 companies through the acquisition of three portfolios: Spencer, Aggregate Media II and Cumasa. The fund may also invest in individual growth companies. Verdane Capital VII targets the Nordic region and will aim to acquire six to nine portfolios over its investment period. People Bjarne Lie is the manager of Verdane Capital VII K/S. Name FCF II Closed €136m (July 2010) Focus Life sciences, Europe, US and Israel Contact Bart Bergstein Address PO Box 5187 1410 AD Naarden The Netherlands Tel: +31 35 699 30 00 Fax: +31 35 699 30 01 Email: info@forbion.com Forbion’s FCF II raises €136m at final close Fund Forbion Capital Partners closed its FCF II fund in July, having raised €136m. The investor was targeting €150m but stated it had been a successful fundraising in difficult market conditions. Netherlands-based FCF II was launched at the end of 2008 and has a standard 10-year lifespan. Terms and conditions of the fund were described as market standard. FCF II attracted commitments from European and US investors and used XS Investments as placement agent for Europe and Sixpoint Partners for the US. Loyens & Loeff was legal adviser to Forbion. Forbion’s previous vehicle is fully invested and has so far exited 16 companies. Cash-on-cash yield for the fund was said to be more than 2x. 04 UNQUOTE OCTOBER 10 ENTIRE CONTENTS COPYRIGHT 2010 INCISIVE MEDIA INVESTMENTS LTD www.unquote.com/nordics
unquote funds Investors Forbion’s latest fund has seen a broadened investor base with European and US pension funds, insurance companies, funds-of-funds and family offices committing capital. GP contribution towards the fund was reported to be greater than 1%. Advisers XS Investments (Placement agent); Sixpoint Partners (Placement agent); Loyens & Loeff (Legal) Investments The fund focuses on the pharmaceutical and healthcare sector and has completed five investments so far: Niti, arGEN-X, Exosome, Promedior and Cardoz. Forbion is looking to make two more commitments this year. The investor will make investments in all stages of a company but will focus on Europe, with the remainder being invested in North America and Israel. The amount of capital provided per transaction will depend on the stage of the company, but generally investments will be more than €10m. People A team of seven partners manage the fund at Forbion. Forbion closes FCF I Co-Invest Fund Fund Forbion Capital Partners has reached a final close of its FCF I Co-Invest Fund on €54m. The final close was just short of the €55m target for the fund, which will invest in later-stage FCF I portfolio companies. Based in the Netherlands, the vehicle has a standard lifespan but Forbion does not expect to fully utilise it. Management fee, carry and hurdle were said to be market standard. The fund was solely open to investors of Forbion and no placement agent was used. Loyens & Loeff acted as legal adviser to the fund. Investors The fund attracted commitments from professional investors and funds-of-funds based in Europe and the US. Investments FCF I Co-Invest has made investments in five FCF I portfolio companies to date. The fund targets laterstage investments and is flexible on the amount of funding provided per transaction. Name FCF I Co-Invest Fund Closed on €54m Focus Later-stage FCF I portfolio companies Contact Bart Bergstein Address PO Box 5187 1410 AD Naarden The Netherlands Tel: +31 35 699 30 00 Fax: +31 35 699 30 01 Email: info@forbion.com Advisers Loyens & Loeff (Legal) People A team of seven partners manage the fund at Forbion. www.unquote.com/nordics The new home of private equity news, data and analysis ENTIRE CONTENTS COPYRIGHT 2010 INCISIVE MEDIA INVESTMENTS LTD UNQUOTE OCTOBER 10 05 www.unquote.com/nordics
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The Belgian government has released a new compromise - Unquote

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