HSH Nordbank sells private equity funds
Hamburg/Kiel, August 30, 2011 - HSH Nordbank is making further progress in disposing of its non-strategic portfolios.
The Bank has sold a portfolio with shares from 47 limited partnerships in European private equity buyout funds worth a total of around 620 million euros. The buyer is a bidding syndicate consisting of AXA Private Equity, Paris, and LGT Capital Partners, Zurich. The parties agreed not to disclose the purchase price. The Bank was advised on the sale by UBS und SJ Berwin.
In the context of the disposal process four funds were already sold for a total of around 47 million euros to two international investors at the beginning of August.
The information contained in this press release does not constitute an offer for the sale of any type of Hamburg Commercial Bank AG securities. Securities of Hamburg Commercial Bank AG may not be sold in the United States without registration pursuant to US securities legislation, unless such a sale takes place on the basis of relevant exceptional provisions.
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