Venture and buyout units of NeSBIC spinout

Due to NeSBIC sponsor Fortis Private Equity's decision to change its strategy and start its own Netherlands-based investment team, the venture and buyout arms of NeSBIC have spun out to form Solid Capital Partners and Bencis Capital Partners respectively. Led by Robert Wilhelm, and including Floris van Alkemade, the new four man Solid Capital team pick up NeSBIC's venture portfolio of ten active companies from its CTe funds. The new entity is also fundraising, and is hoping to raise €75m for later-stage venture investments in the telecoms, IT and media sectors in the Benelux region, with commitments being sought from Europe and the US. Wilhelm expects Solid Capital ICT Fund III to reach a first close in early 2005 if not by the end of 2004. The new Bencis team will be led by NeSBIC founder Zoran van Gessel, comprising in total of 15 members and will take on Nesbic's buyout portfolio of eight investments. It, too, will be raising an independent fund over the coming months, with a target believed to be in the region of €200m. NeSBIC is left with its growth capital and special situations arms.

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