NBGI Private Equity has recouped 10.7x its investment through the IPO of Superglass on the London Stock Exchange. The listing enables NBGI to divest its 50.9% stake generating an IRR of 244% on its two year involvement with the glass wool insulation manufacturer. On admission, the IPO values Superglass at an enterprise value of approximately £135m. This is the sixth exit from NBGI’s first Fund, with an IRR on exited investments to date of 76% p.a. and a cumulative money multiple of 6.9x. It follows yesterday's news that NBGIPE had seen a 6x return on its exit from retailer Mountain Warehouse.
Multi-family office has seen strong appetite, with investor base growing since 2016 to more than 90 family offices, Meiping Yap told Unquote
Sponsor deploys Permira VIII to ride new wave of take-privates; Blackstone commits GBP 200m in financing for UK-based CRO
Sponsor acquired the public software group in July 2017 via the same-year vintage Partners Group Global Value 2017
EQT and Cinven seen as bellweather for funds to reassess options for listed assets trading underwater