DeVos Single Family Office Invests In Private Equity Firm Nordic Capital

DeVos Single Family Office Invests In Private Equity Firm Nordic Capital

Betsy DeVos is the United States Secretary of Education – and a member of a billionaire family. Their net worth is estimated at $5.4bn. Now, the American DeVos single family office RDV Corp. acquired a stake in Nordic Capital through an affiliate (“Ottawa Avenue Private Capital LLC”).

Leading Swedish private equity firm Nordic Capital

Nordic Capital is a Swedish private equity fund which was founded in 1989. So far, the fund invested over €14bn in approximately 190 companies. The current IX fund invests €4.3bn. Nordic Capital is focused on the Healthcare, Tech & Payments, Financial Services, Industrial and Consumer sectors. Current portfolio companies include acino (healthcare, Switzerland), European Dental Group (healthcare, Netherlands), sportnordic group (retail, Denmark) or Trustly (payments, Sweden). The investment is aimed to strengthen Nordic Capital’s balance sheet and to grow, e.g. through new hires.

DeVos single family office managing billions

As stated before, the net worth of the DeVos family is estimated at $5.4bn. Betsy DeVos, US Secretary of Education, is the daugther-in-law of Richard DeVos, billionaire and founder of Amway. Betsy DeVos’ father is Edgar Prince, founder of Prince Corp. which was sold for $1.3bn to Johnson Controls. The DeVos family office RDV Corp. is also investing in real estate. For example, in April 2019 the family office announced to invest in a real estate development project in Grand Rapids (a US city near Michigan).

Sources
Ben o’Bro (24.09.2019)
MiBiz (24.09.2019)
Wikipedia (24.09.2019)

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