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European private equity firm AnaCap splits off analytics unit

By Reuters

<div> <p><span class="caps">LONDON</span> – Private equity and credit firm AnaCap Financial Partners is spinning off its analytics unit Equipped AI into a separate business, it said on Tuesday.</p> <p>The unit was formed within AnaCap in 2017 and provides data analysis for debt, equity and real estate investments.</p> <p>External clients include Amitra Capital, Quilam Capital and RCapital, alongside AnaCap and the firms in which AnaCap invests. </p> <p>More potential clients are in the pipeline, said Equipped AI Managing Director Mike Edwards.</p> <p>“We’ve had pretty significant revenue growth. We’re profitable already,” Edwards said, adding Equipped was on course for revenues of nearly 4 million euros ($4.68 million) this year.</p> <p>Douglas Trafelet, Equipped director of business development, said changing working patterns due to the <span class="caps">COVID</span>-19 pandemic showed the value of the platform, which could be used by different teams within an organisation. </p> <p>“When you have a remote workplace, you have a breakdown in communication,” he said. </p> <p>AnaCap focuses on European small and mid-cap companies. Its credit investments include European non-performing loans.</p> <p>Since launching in 2005 it has raised 5.2 billion euros in assets under management.</p> <p>In February, AnaCap sold Czech Republic-based Equa Bank to Raiffeisen Bank International for an undisclosed amount. </p> <p>($1 = 0.8540 euros)</p> <p/> </div>