CPP Investments to sell down stake in cloud software provider Visma

The transaction is a partial realization of the existing stake to a pool of existing and new investors.

  • CPP Investments will retain an approximate 2 percent stake in Visma
  • CPP Investments’ net proceeds from the transaction are expected to be approximately C$700 million
  • The transaction is expected to complete in the second quarter of the next calendar year

Canada Pension Plan Investment Board has agreed to sell down its stake in Visma, an Oslo Norway-based provider of cloud software.

The transaction is a partial realization of the existing stake to a pool of existing and new investors.

CPP Investments will retain an approximate 2 percent stake in Visma. CPP Investments’ net proceeds from the transaction are expected to be approximately C$700 million.

The transaction puts Visma at a valuation of €19 billion.

“Since our first investment in Visma in 2019 and our subsequent follow-on investments, Visma has continued to lead the way as a scaled provider of mission-critical cloud software in Europe. We’ve realized solid returns during our ownership and will continue to back Visma as it continues on its growth path under the continued control ownership of Hg,” said Hafiz Lalani, managing director, global head of direct private equity, CPP Investments in a statement. “We thank the entire management team for their outstanding performance during a period of strong growth generating exceptional investment returns including in the unpredictable market environment witnessed over the last few years.”

The transaction is expected to complete in the second quarter of the next calendar year.

Headquartered in Toronto, CPP Investments has C$576 billion as of September 30, 2023.