CapMan sells 30% Access stake to Pohjola

The transaction will also see Access acquire Pohjola Private Equity Funds Oy (PPEF) from Pohjola. CapMan's 2010 results have seen an impact of approximately €23m as a result of the deal. Closing of the transaction is subject to approval from regulatory authorities in Guernsey and France.

CapMan co-founded Access Capital Partners in 1999 and held a 47.5% stake in the company. In 2006, CapMan sold a 12.5% stake to Access's management. The investor will retain a 5% stake in the company after selling 30% to Pohjola. Pohjola will hold 40% and management 55% of the fund-of-funds manager.

With the acquisition of PPEF, Access's capital under management will increase to approximately €4.5bn.

CapMan's decision to reduce its stake was taken in order to concentrate on its core business of managing private equity funds and making direct investments.

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