--- Connecting LPs & GPs worldwide
--- Connecting LPs & GPs worldwide
Danish bank FIH Erhvervsbank is looking to shed its commitments to private equity funds, reflecting a rare move by a Nordic bank in a market where the majority of institutional investors have managed to retain their interests in the asset class.
According to news reports, Denmark’s sixth-largest bank by assets has about €180m committed to private equity funds including Danish fund manager Axcel, and is looking to exit the entire portfolio on the secondaries market.
Nordic banks have remained predominantly liquid through the downturn and have not been subject to the same pressure as other European banks to shed riskier asset classes from their portfolios.
A spokesperson from FIH was not immediately available to establish whether the divestment is strategic or due to liquidity issues.
Copenhagen-based FIH Erhvervsbank is an integrated corporate and investment bank which primarily offers capital and advisory services to Danish corporates. Last year the bank lent a total of DKK60bn (€8bn) to around 4,000 corporate clients.
The bank is owned by a consortium of investors comprising Danish pension funds ATP and PFA, Swedish insurance company Folksam and independent financial advisory firm CPDyvig.
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Tags: buy-out, financial services
