Spanish asset manager Alantra has concluded the purchase of an additional 24.5% share in Access Capital Partners (ACP) from OP Financial Group in a deal that is valued around €24.5m.
ACP is an independent private asset manager that has operations throughout France, Belgium, the UK, Germany, Finland, and Luxembourg. It has raised over €13bn of assets and employs a workforce of 90 people.
The company provides funds of funds, co-investment funds, and tailor-made solutions that facilitate small and mid-market buyouts, infrastructure, and private debt transactions.
The new cash-based deal was completed after Alantra received the necessary regulatory approvals.
It is in line with the company’s 2021 Financial Results Presentation when Alantra announced its plan to implement a call option to buy the additional stake. This option was agreed at the time of initial purchase of 24.5% stake in December 2018.
The latest deal has increased Alantra share in ACP to 49%, with the executive partners owning the remaining 51%.
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By GlobalDataIn a statement Alantra said: “This investment marks a new milestone in Alantra’s strategy of becoming a leading pan-European diversified asset manager offering a wide range of investment strategies in seven highly specialised asset management classes (private equity, active funds, private debt, infrastructure, real estate, transition energy, and technology).
“As of June 30, 2022, assets under management from consolidated businesses stood at €2.2bn, while assets under management from Strategic Partnerships in which Alantra holds a significant stake were €13.7bn.”
Last year, Alantra secured over €750m across its various strategies. The company also concluded fundraising of a €814m fund-of-funds vehicle.
In February 2020, Mutua Madrileña, a Spain-based insurer, bought a 20% interest in Alantra Asset Management for €45m.