Carey Olsen’s Guernsey funds team has advised investment firm Permira on the acquisition of an equity stake in fintech specialist Klarna Bank by an investment partnership advised by Permira.
Klarna provides payment solutions to 60 million consumers and 70,000 merchants, and operates in 18 markets. It recently became one of the largest European fintech companies to receive a banking licence.
This marks the first foray into the fintech sector for Permira, which advises funds and accounts with a total committed capital of around €32bn.
The Carey Olsen team included Partner Tom Carey, Senior Associate Matt Brehaut and Associate Vaishali Gupta, who were responsible for the establishment of the investment vehicle, incorporating a new general partner vehicle and seeking appropriate regulatory exemptions.
Fried, Frank, Harris, Shriver & Jacobson and Nordic law firm Roschier provided onshore Counsel for the acquisition.