List of 19 Small Communications Private Equity Firm Investors in Western Europe

Investor	PE Assets $mlns	Portfolio		M&A Activity Buy vs Sell, Last 5 Years
Investor	PE Assets $mlns	Total	Current	M&A Activity Buy vs Sell, Last 5 Years
KeBeK Private Equity Strombeek-Bever, Belgium Private Equity Firm • 2013 • website See all 4	-	20	12
Sofindev Diegem, Belgium Private Equity Firm • 1991 • website See all 5	676	27	14
Talde Private Equity Bilbao, Spain Private Equity Firm • 1976 • website See all 5	192	8	8
Sofipaca Capital Investissement Aix-en-Provence, France Private Equity Firm • 1984 • website See all 3	-	33	29
Co-Investor AG Zurich, Switzerland Private Equity Firm • 2000 • website See all 4	-	32	10
NCI Rouen, France Private Equity Firm • 1999 • website See all 1	225	27	27
Synergia Capital Partners Veenendaal, Netherlands Private Equity Firm • 1999 • website See all 4	141	38	14
Antea Participaties The Hague, Netherlands Private Equity Firm • 1999 • website See all 3	113	19	14
BayernLB Capital Partner Munich, Germany Private Equity Firm • 1969 • website	-	15	7
Novum Capital Frankfurt, Germany Private Equity Firm • 2006 • website See all 5	338	9	3
Aletra Capital Partners B.V. Laren, Netherlands Private Equity Firm • 2014 • website See all 5	-	17	11
Fidelium Partners Munich, Germany Private Equity Firm • 2017 • website See all 2	116	9	9
Formentor Capital Madrid, Spain Private Equity Firm • 2018 • website See all 5	135	4	4
Invest Equity Vienna, Austria Private Equity Firm • 1998 • website See all 3	-	18	1
Quantum Capital Partners GmbH Munich, Germany Private Equity Firm • 2008 • website See all 7	152	4	3
Espiga Capital Madrid, Spain Private Equity Firm • 1998 • website See all 3	158	16	4

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