Inflexion inks €300m Nordics deal

Inflexion has snapped up a majority stake in Nomentia, a European treasury and cash management software provider.

The mid-market private equity firm has bought Nomentia from investors PSG Equity and Verdane in a deal that is understood to value the business at roughly €300m, according to market sources.

Inflexion is a leading mid-market private equity firm with c.€9 billion in funds under management. The firm works in partnership with ambitious management teams of high growth, entrepreneurial businesses to accelerate sustainable growth.

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D.E. Shaw is seeing valuations in series B and C funding rounds tumble by roughly 50% from their peak, so “we’re looking predominantly in that space right now, where there are prices coming back down to reality,” Jager said. Still, the fund has a wide mandate to invest across early and growth-stage companies.

Voltaic is expected to deploy the committed capital over the next two years and may consider structured equity deals. That’s when companies offer perks in their fundraising terms, such as discounted shares in a public offering.

Read more: Down-Round Pain Forces Startups to Get Creative in Hunt for Cash

D.E. Shaw, with more than $60bn of assets under management, also raised more than $650 million in commitments for its private credit fund, Diopter, which focuses on bank-securitization products. The fund deployed most of that cash in the fourth quarter.

The firm’s funds and insiders contributed more than $150m combined to Diopter and Voltaic, which are now closed to new cash.

While D.E. Shaw is mostly known for quant trading, it has been making private equity investments through its main hedge funds since the 1990s. Since 2012, it has raised $3.5bn to invest in private credit.

Source: William Blair

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