On 07/05/2018 03:14 AM, David C. Rankin wrote:
On 07/04/2018 08:23 AM, Dave Howorth wrote:
So no, SUSE isn't owned by EQT VIII -- it's owned by EQT, but the money came from EQT's fund № 8. I suspect that isn't correct. I would expect the funds to be legally separate entities from the management company. They have separate legal representation, for example. I suspect that SUSE is owned by EQT VIII and that EQT Fund Management Sarl is an adviser. I believe my suspicions are confirmed by the ownership diagram on p41 of last year's annual review.
For what it is worth, it is quite common to create "straw-man" entities to facilitate acquisitions and mergers.
""" EQT VIII is backed by a global blue-chip investor base including, among others, AP2, AP6, Ardian, Argentum, CNP Assurances, Daido Life Insurance Company, The Dai-ichi Life Insurance Company, Danske Bank Wealth Management, Elo, Fubon Life Insurance Company, GIC, GoldPoint Partners, HarbourVest Partners, Harel Insurance, Ilmarinen, Keva, The Andrew W. Mellon Foundation, Nan Shan Life Insurance Company, The New York City Retirement Systems, Northwestern Mutual Life Insurance, P+, Partners Group, PFA Pension, Sampension, Signal Iduna, Teacher Retirement System of Texas, Teachers' Retirement System of the State of Illinois, TryghedsGruppen, Universities Superannuation Scheme and Varma. """ From [1]. These are the new owners of SUSE when/if the deal goes through. And those owners will reap the re-wards once SUSE exists the fund. Whatever that exit will be. EQT funds usually run for 10 years. Acquisitions take place usually in the first 5 years and divestiture takes place in the second half of the life of the fund, information readily available from the EQT site. I know, I know, this gives people probably 5 years to speculate what might come next. But speculation is not really helpful, so please do that on some other list or on your own time.
When then dust settles, the important point is who owns a controlling interest in whatever the ultimate owner-entity is. At least it is somewhat reassuring that there is science-oriented money involved. It would be terrible to end up as part of a holding company that can't spell Linux.
Hmm I wonder if the Teacher Retirement System ... people know how to spell Linux. But what does it matter? Later, Robert [1] https://www.prnewswire.com/news-releases/eqt-strengthens-position-as-a-leadi... -- Robert Schweikert MAY THE SOURCE BE WITH YOU Distinguished Architect LINUX Team Lead Public Cloud rjschwei@suse.com IRC: robjo