Nordic unquote" July/August 2011

Peter Dahlberg, a director in Montagu's Stockholm office, and Nico Helling, a director in the German team, were asked to leave by Montagu recently and are on gardening leave until November. Investors were sent a letter in June. As of now, the two are not believed to be joining other buyout houses.

Crucially, only Helling was a "key man" and is one of several, therefore the €2.5bn fund's longevity is not in doubt. Montagu's 2005 fund stands at a 20% premium to cost, and the firm's long-term IRR for earlier funds is 22-23% net.

Montagu would not comment on the departures.

In the July/August edition of Nordic unquote":

Is pharma losing out on venture funding?

Secondary buyouts on the rise

Management due diligence: Power to the people

Corporate buyers: stealing the deal

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