N&Q: Family office investments/appointments; buyouts…

Two appointments at family investment groups

Kinnevik, the investment group controlled by the Swedish Stenbeck family, has appointed a new chief executive. Georgi Ganev joins from Dustin, a Swedish tech group. He replaces Joakim Andersson, who will remain acting CEO until Ganev assumes the position at the beginning of next year.

TY Danjuma, the UK-based investment office of the Nigerian Danjuma family, has appointed Simon Foster as its new CEO. Foster was previously CFO at the Surrey-based family office and has been with TY Danjuma for six years. He replaces Geoffroy Dedieu, who will continue to work as a non-executive director at the family office.

 

Family office investments

L1 Retail, a subsidiary of LetterOne, the family office of Russian billionaire Mikhail Fridman, has purchased the UK health-food retail chain Holland & Barrett for $2.3 billion from The Nature’s Bounty Company and The Carlyle Group.

ICONIQ Capital, a closed multi-family office that manages some of the money of Mark Zuckerberg, as well as other prominent tech billionaires, has led a $400 million round of investment in Houzz, a home improvements startup.

Bloomberg has reported that talks have taken place to sell the Brazilian flip-flop maker Havaianas to Cambuhy Investimentos, the investment group of the Moreira Salles family. Havaianas is currently owned by J&F Investimentos, which is controlled by another prominent Brazilian family, the Batistas.

Kinnevik, the investment group controlled by the Swedish Stenbeck family, said it intends to sell it remaining 3.6% stake in Lazada Group to the huge Chinese e-commerce business Alibaba Group Holding for $115 million.

 

Buyouts…

Family controlled US MFG Chemical has sold a majority stake to Platte River Equity, a Denver-based private equity group. Owner and founder, Charles E. Gavin, III, will maintain a minority equity interest in MFG alongside Platte River and management. Headquartered in Georgia, MFG is a specialty chemical manufacturer of polymers, surfactants and esters.Terms of the deal were not disclosed.