The London Private Investment Funds team advised Spice Private Equity (Spice), a subsidiary of the Swiss investment company, Spice Private Equity Ltd., in the $31.1 million sale of assets held by Spice. Seven assets were sold (the Portfolio) including all primary fund investments, simplifying cash management for Spice and creating further capacity for new direct investments.
The Portfolio comprised five primary fund investments (Navis Asia VII, Northstar IV, Baring Asia VI, Carlyle Sub Saharan Africa Fund and Helios III) and two co-investments (Altico Capital and Rede D’Or). During the holding of the Portfolio, a gain of 6% was generated.
For additional details on the transaction, please read the press release.