Nordic buyout specialist CapMan has sold a 12.5% stake in Access Capital Partners, a French fund-of-funds manager, to the Access management team. The sale of 12.5% of its shares to the management team of Access has earned CapMan €600,000 and brings the firm’s interest in to 35%. The management owns the remaining 65%.
Access Capital was founded in 1999 with the help of CapMan and currently has 20 employees. It has a specific focus on the European mid-market buyout sector and technology funds. It has assets of €1.25bn under management in three fund-of-funds and separate private equity investment mandates.
Access’ most recent investment was in Northzone V, a Nordic technology, software and telecom fund which closed on €175m. Access reached first closings on two funds in December 2005. Both were launched back in April 2005. Access Capital Fund III Mid-market Buy-out Europe is due to close very soon with a target of €250m. Access Capital Fund III Technology Europe is looking to raise €100m before it closes in late 2006.