Posted on Jul 27, 2021 at 7:30 PMUpdated Jul 27, 2021, 7:51 PM
Israeli interception company NSO loses its owner. Novalpina, the European investment company which got its hands for 1 billion euros two years ago on the cyber expert at the heart of a vast escandal of eavesdropping, is going to be dissolved, indicates a person close to the fund at ” Echoes ”.
“The fund which has three participations [à savoir] NSO, the French laboratories XO and the Olympic Entertainment casinos will be managed in extinction by a third-party international manager who will be formally appointed in the coming weeks ”, indicates this source.
Investors, largely pension funds like the Oregon Investment Council and Alaska Permanent fund, as well as the UK’s South Yorkshire Pension Authority and East Riding Pension fund, had staked € 1 billion in Novalpina in 2019 – along with the funds bought the Israeli cyber company.
Officially, according to a relative, they wanted to put an end to months of internal war between the three main partners. These three former members of the American fund TPG, Stephen Peel, at the origin of the launch of activities in Europe, Stefan Kowski and Bastian Lueken, have brought their dispute to the Luxembourg court of justice. Faced with a final challenge, investors in favor of Stephen Peel would thus have arbitrated for the dissolution.
Relatives of Novalpina thus rule out any direct link with the NSO scandal. In reality, however, large investors in the fund have long been blamed by NGOs for choosing this investment company, with NSO even being bought out before the fund’s final closure two years ago.
The eavesdropping scandal could have sounded like the alarm too many. When they convinced them to invest in their brand new fund – including no less than $ 233 million for the Oregon fund – Stephen Peel and Stefan Kowski had the shocking argument to set themselves apart from their private rivals. equity: “As investors, we consider that we have to go against the grain”, explained Stephen Peel, “we will have to find acquisitions that others do not see or do not want to make for various reasons”.
Investors, just like Novalpina, were on the verge of resolving their difficulties around the positioning of NSO. At the start of the year, the cyber company was visibly considering listing on the stock market or being bought out by a Spac for $ 2 billion. She wanted to embark on new activities this time, such as drone interception.