French boutique Karakoram, involved in fund selection, has announced Allegra Finance specialising in IPOs’ advisory has acquired a stake in its capital, following a capital increase on 10 November.
The level of the stake purchased by Karakoram’s new shareholder has not been disclosed. Neither were the financial details of the transaction.
The deal aims to speed up the development of Karakoram on the side of private management and on the institutional segment.
Karakoram said the expertise of Allegra Finance in small and mid-cap companies and its old-established relationships with entrepreneurs will strengthen the asset manager’s reputation towards those clients. In addition, Karakoram seeks to achieve targeted acquisitions with new funds provided by the entry of Allegra Finance in its capital.
Both structures remain unchanged. Karakoram has been founded in 2011.