Family office/investment deals
Bregal Investments, the private-equity/family investment arm of the Brenninkmeijer family, has sold a stake in the German software company ProAlpha Business Solutions to a UK buyout group, according to Bloomberg, which quoted sources close to the deal. Bregal will retain a minority stake, said the report. The buyer is Intermediate Capital Group.
Bloomberg also reported that JAB Holdings, the increasingly high-profile family investment group of members of Germany’s Reimann family, is looking to sell luxury shoemaker Bally International. The report quoted people familiar with the matter. Last month, JAB sold UK shoemaker Jimmy Choo to Michael Kors Holdings for around $1.2 billion.
China’s Gao family have bought a circa 80% stake in Southampton Football Club from its Swiss owner, Katharina Liebherr. Gao, along with his daughter Nelly, controls the Chinese real estate group Lander Holdings.
Family office appointments
Pritzker Group Private Capital has hired George Couto to help with its push into private businesses. Couto joins from Palladium Equity Partners in New York City, a private equity firm. “In his new position at Pritzker Group Private Capital, Couto will help source and execute new investments,” said a press release on the appointment. The Chicago and Los Angeles-based family office likes appointing individuals with MBAs from Harvard. Couto has one and so does Ray Roberts, whose appointment at Pritzker Group was announced at the beginning of the year.
South Korea family sell big stake in business
The family owners of the Hanwha Group, a South Korean chaebol, has sold a 45% stake in a big IT subsidiary of the group, Hanwha S&C, in response to a government crackdown on family-owned monopolies in the country, said reports. Under South Korea’s fair trade law, unlisted companies in which the owner family holds 20% or more, or listed companies with shares of 30% or higher will face pressure to lower their holdings.