Capvis
Encyclopedia
Capvis is a private equity
Private equity
Private equity, in finance, is an asset class consisting of equity securities in operating companies that are not publicly traded on a stock exchange....

 firm focused on leveraged buyout
Leveraged buyout
A leveraged buyout occurs when an investor, typically financial sponsor, acquires a controlling interest in a company's equity and where a significant percentage of the purchase price is financed through leverage...

 and growth capital
Growth capital
Growth capital is a type of private equity investment, most often a minority investment, in relatively mature companies that are looking for capital to expand or restructure operations, enter new markets or finance a significant acquisition without a change of control of the business.Companies...

 investments in middle-market companies across a range of industries in Switzerland, Austria and Germany.

The firm, which is based in Zurich
Zürich
Zurich is the largest city in Switzerland and the capital of the canton of Zurich. It is located in central Switzerland at the northwestern tip of Lake Zurich...

, was founded in 1990. The firm has raised approximately €1.5 billion since inception across three independent funds as well as two predecessor funds. As of the end of 2008, Capvis and its predecessors have completed 41 transactions with a total volume of over €3 billion.

History

The firm was founded in 1990 as division of Swiss Bank Corporation
Swiss Bank Corporation
Swiss Bank Corporation was a large integrated financial services company located in Switzerland...

, one of the constituent pieces that today is part of UBS AG
UBS AG
UBS AG is a Swiss global financial services company headquartered in Basel and Zürich, Switzerland, which provides investment banking, asset management, and wealth management services for private, corporate, and institutional clients worldwide, as well as retail clients in Switzerland...

. From 1990 through 1994, the group had approximately CHF
Swiss franc
The franc is the currency and legal tender of Switzerland and Liechtenstein; it is also legal tender in the Italian exclave Campione d'Italia. Although not formally legal tender in the German exclave Büsingen , it is in wide daily use there...

 84 million to invest. Beginning in 1995, the group was branded SBC Equity Partners but was still a wholly owned subsidiary of Swiss Bank Corporation
Swiss Bank Corporation
Swiss Bank Corporation was a large integrated financial services company located in Switzerland...

. SBC Equity Partners invested from a CHF 117 million vehicle, SBC Equity Partners Fund.

In 1999, shortly after the merger of Swiss Bank Corporation
Swiss Bank Corporation
Swiss Bank Corporation was a large integrated financial services company located in Switzerland...

 and Union Bank of Switzerland
Union Bank of Switzerland
Union Bank of Switzerland was a large integrated financial services company located in Switzerland. The bank, which at the time was the second largest bank in Switzerland, merged with Swiss Bank Corporation in 1998, to become UBS to form what was then the largest bank in Europe and the second...

, the firm began to raise capital from outside investors. This first Capvis fund raised CHF 340 million of investor commitments. While UBS held approximately 40% of the firm's capital, the remainder came from Swiss and international investors.

In 2003, Capvis completed a spinout from UBS, including a buyout of the bank's ownership interest to become a fully independent private equity firm. Subsequently, the firm completed fundraising for a €340 million fund, Capvis II.

In 2008, Capvis raised €600 million for its third independent fund, Capvis III.

Cavis chief financial officer, Felix Rohner, is the brother of former UBS AG
UBS AG
UBS AG is a Swiss global financial services company headquartered in Basel and Zürich, Switzerland, which provides investment banking, asset management, and wealth management services for private, corporate, and institutional clients worldwide, as well as retail clients in Switzerland...

 CEO Marcel Rohner
Marcel Rohner (banker)
Marcel Rohner is a Swiss businessman. He was Group Chief Executive Officer at UBS AG from July 6, 2007 until 26 February 2009, and on the Group Executive Board from October 2007 until his resignation.-Biography:...

, who was also an executive of Swiss Bank Corporation
Swiss Bank Corporation
Swiss Bank Corporation was a large integrated financial services company located in Switzerland...

.

External links




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