Amanda Capital buys Mandatum Privat

Amanda Capital Plc has acquired Mandatum Private Equity Funds Ltd from Sampo Plc for EUR 3.6m. Paid in cash, the transaction extends Amanda Capital’s business from private equity investing to managing and consulting private equity investments. It aims to offer private equity investment services for third parties. The deal is subject to approvals from the buyer’s general meeting.Wholly owned by Sampo Plc, Mandatum Private Equity Funds is a private equity fundmanagement company with eight staff. Established in 2002, the business has consultative agreements with some clients and it manages Amanda Capital’s investments made from the balance sheet. From the start of the investments, Amanda Capital’s portfolio has generated an annual IRR of 27%, 25% in the last 12 months.Mandatum Private Equity is also the general partner of Mandatum Pääomarahsto I and II, private equity fund-of-funds. Currently, it has in excess of EUR 700m under management, and it has commitments in more than 80 private equity funds in Europe, the US, Asia and Russia.In 2004, the business recorded turnover of EUR 1.65m, which amounted to operating profits of EUR 600,000. Due to a one-off item success fee, the revenues and profits are expected to increase in 2005. The fee relates to a current management agreement between Amanda Capital and Mandatum Private Equity Funds.

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