UniCredit (acting through UniCredit Bank AG) and funds advised by Ardian, a leading private investment house, have reached an agreement on the sale of UniCredit’s non-control shareholding in SwanCap Partners GmbH (“SwanCap”).
Both parties have agreed not to disclose the sale price.
SwanCap specialises in private equity (PE) buyouts, offering an integrated approach to its predominantly institutional investors by combining PE primary investments, direct secondaries and direct co-investments.
The business was established as an independent investment platform by senior professionals of the former UniCredit private equity unit in 2013.
Commenting on the sale, Jan Kupfer, Head of CIB Germany at UniCredit, said: “Today’s announcement is another tangible step in streamlining our activities, allowing us to focus on our core client offering. Looking ahead, we are pleased that SwanCap has the opportunity to build upon its European business alongside a leading investment house such as Ardian.”
Florian Kreitmeier, Co-CEO and Managing Partner of SwanCap, added: “This is an important milestone in the growth of SwanCap, reaffirming the company’s independence and its development as a pure-play investment manager. We are delighted to welcome Ardian as a long-term investor and partner as we continue to grow our firm and strive to deliver superior risk-adjusted returns to our investors.”
Ingmar Vallano, Senior Managing Director at Ardian, concluded: “SwanCap has built a remarkable and highly-professional investment management platform, distinguishing itself through a proven track record of sourcing and executing highly-attractive private equity
investments for its investor base. We are convinced SwanCap will remain strategically positioned to further enhance its market position and we look forward to supporting the team in the years to come”.
The closing of the transaction is subject to the approval of the respective regulators.