Acathia Capital has boosted its stake in Futur, a Swedish pension and savings platform, marking its second GP (general partner)-led secondary transaction.
This move is backed by Montana Capital Partners (MCP), a private equity secondaries investment manager and a part of PGIM, Prudential Financial’s global investment management business.
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MCP is the principal investor in this deal, along with a German insurance company.
The completion of this transaction is contingent on the Swedish Financial Supervisory Authority’s approval.
Acathia Capital, in partnership with Nordic private equity firm Polaris Private Equity, has led the investment in Futur since 2019, along with three passive co-investors.
In the recent transaction, Acathia Capital acquired additional shares from one of the co-investors through its new investment vehicle, Fjord Pension SCS.
Following this transaction, Acathia Capital now manages assets under management (AuM) exceeding €300m ($315.3m).
Acathia Capital managing partner Thomas Schmitt noted: “Since our investment in Futur began in 2019, Futur has tripled its assets under management to Skr240bn ($21.9bn) and more than quadrupled its profits, establishing itself as a market leader in Sweden.”
Futur CEO Torgny Johansson said: “We stick to our strategy, to be independent and focus on simplicity for our partners as well as our joint customers.”
Futur is a digital pension and savings platform that holds a life insurance licence.
It specialises in long-term savings and insurance solutions, targeting occupational pension and capital insurance products.
Currently, Futur oversees more than Skr240bn in AuM, primarily through unit-linked insurance policies.
