Ripplewood, an American a private equity and venture capital firm based in New York, is taking on Nordic Banks in Latvia Buy.
U.S. private-equity fund Ripplewood Holdings LLC is targeting a growing piece of Latvia’s banking industry, where Nordic lenders dominate.
A group of investors led by the New York-based fund yesterday agreed to buy the Latvian government’s 75 percent stake in Citadele Banka AS, the Baltic nation’s fifth-biggest lender by deposits, for an undisclosed price. That puts it into competition with the likes of Swedbank AB and SEB AB. Nordic lenders control about half of Latvian banking assets, according to the national banking association.
“This bank had got a platform for a lot of growth, and we are going to develop that,” Ripplewood’s Chief Executive Officer, Tim Collins, said in a phone interview after the sale was announced.
Tags: Private Equity, Private Equity Firm, Private Equity Group, Private Equity Company, Private Equity Fund, Private Equity Investment, Private Equity Investor, Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Ripplewood, Ripplewood Holdings LLC, American Private Equity, American Venture Capital, New York Private Equity, New York Venture Capital, Nordic Banks, Latvia, Citadele Banka AS, Swedbank AB, SEB AB, Tim Collins.