Carnegie acts as financial adviser to EMK in the divestment of BlueStep Bank to EQT

Carnegie is pleased to announce that it has advised funds managed by Bregal Capital LLP and advised by EMK Capital LLP on the sale of BlueStep Holding AB (“BlueStep”), the leading specialist mortgage provider in the Nordic region, to EQT which completed in December 2017.

BlueStep has pioneered the specialist mortgage market in Sweden and Norway, providing more than 29,000 customers with loans since 2005. It caters for the growing share of the population not being served by traditional banks. By a differentiated approach to customer on-boarding and loan underwriting, focusing on the customer’s underlying loan servicing ability, BlueStep has built a loan portfolio of over SEK13bn. BlueStep is headquartered in Stockholm, Sweden and has approximately 200 employees.

BlueStep was acquired by the fund EQT VII, part of EQT, a leading alternative investment firm with approximately €37bn in raised capital across 22 funds. Based in the Nordics, EQT hold portfolio companies in Europe, Asia and the US.

The shareholders of BlueStep were advised by both Carnegie and Quayle Munro.