The basic concept behind SPEAS is to offer a wide group of investors an opportunity to invest in private equity funds through a listed company.
Private equity investors are primarily professional institutional investors. Up to now, private investors, small enterprises and funds have had no, or only limited, opportunity to invest in private equity and thereby obtain the historically attractive returns generated within this field.
SPEAS invests in a portfolio of buy-out funds active in the Nordic region, both funds primarily investing in a single country in the Nordic region and funds investing in Europe. Nordic buy-out funds have historically generated attractive returns.
At present, SPEAS prioritises distribution to shareholders over new investment commitments and consequently intends to distribute as large a share of its cash reserves as possible, with due regard to outstanding investment commitments. Distribution will be in the form of share buybacks and/or dividends.
Distribution to shareholders will reduce SPEAS’s investment capacity to an extent expected to result in a winding-up of the Company.