The Ontario Teachers’ Pension Plan and Swedish private equity firm Nordic Capital Ltd. have jointly acquired a stake in Swedish financial advisory firm Max Matthiessen A.B., according to an announcement by the pension fund. Financial terms of the deal were not disclosed.
Max Matthiessen, founded in 1889, provides investment and asset management services and obtains pension and insurance products. The Stockholm-based firm serves more than 18,000 corporate clients in the Nordic region. According to Max Matthiessen, it also supports sustainable investments and provides environmental, social and governance-focused products. According to the OTPP, its financial services and private equity portfolio has assets worth C$13 billion ($9.3 billion).
Under the terms of the deal, the OTPP and Nordic Capital will equally control stakes in Max Matthiessen, the pension fund through its private capital unit and the firm through its Nordic Capital XI fund. The sizes of the stakes were not disclosed. For Nordic Capital, it is the second time it has invested in Max Matthiessen, following an investment in 2020.
Other recent OTPP acquisitions include stakes in U.K. wealth and investment manager 7IM, European trading and savings platform Trade Republic Bank, European insurance broker Diot-Siaci, and Canadian insurance broker Westland Insurance Group.
The OTPP also reported that its joint venture with investment firm Boreal IM has acquired a 149,000-square-meter (1.6 million-square-foot) portfolio of three logistics assets in Paris, as well as a 46,000-square-meter warehouse in Germany.
The three French assets include an 84,000-square-meter facility east of Paris, which is occupied by an unnamed “major retailer” and will house the joint venture’s main logistics and e-commerce distribution center; a 42,000-square-meter facility north of Paris, and a 23,000-square-meter logistics center between Paris and the city of Lille.
“The acquisitions further our strategy to build a portfolio in the strongest markets across Europe,” Jenny Hammarlund, OTPP’s senior managing director of U.K. and European real estate, said in a release. “They also offer opportunities to create additional value through active management, strengthening our ability to deliver portfolio diversification and sustainable returns.”
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Tags: Acquisition, Boreal IM, logistics, Max Matthiessen, Nordi Capital, Ontario Teachers' Pension Plan, Pension Fund, Private Equity