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WSJ: Nordic Capital to sell minority stake to affiliate of DeVos family office

RDV Corp. unit Ottawa Avenue Private Capital LLC is close to buying a minority stake in private equity firm Nordic Capital, The Wall Street Journal reported, citing people familiar with the matter.

Financial details of the potential deal are unclear. Nordic Capital intends to use the possible cash infusion to bolster its balance sheet and fund growth, the publication noted.

Michigan-based RDV is one of two family offices tied to U.S. Education Secretary Betsy DeVos.

Nordic recently raised €4.3 billion for its ninth flagship buyout fund, the Journal added.