Nordic Capital Fund VIII closes with EUR 3.5 billion in committed capital
Dec 20, 2013
Nordic Capital announces the close of Nordic Capital
Fund VIII ("the Fund") at its hard cap of EUR 3.5 billion (USD 4.8
billion). Investor demand exceeded the Fund target by nearly
30%.
The new Fund will build on the well proven strategy
executed by Nordic Capital's prior seven funds, investing in
mid-market companies with strong market positions and clear growth
potential across the Nordic region and Europe. Healthcare
investments will continue to play an important role in the Fund's
capital allocation. As with previous funds, Nordic Capital's
experienced investment team will target control oriented
investments, supporting growth in portfolio companies through
well-defined investment themes.
"We believe Nordic Capital's strong long term track
record, local networks and world class organisation means that Fund
VIII is well positioned to capitalise on the many attractive
investment opportunities that Nordic Capital cultivates in its
chosen markets. Nordic Capital Funds have demonstrated a proven
ability to consistently return capital to investors, over a 24 year
history and through many economic cycles, and Nordic Capital
expects to continue to build on that success with Fund VIII," says
Kristoffer Melinder, Co-Managing Partner, NC Advisory AB, advisor
to the Nordic Capital Funds.
Continued strong support from key existing
investors, who represent 64% of the committed capital in Fund VIII,
combined with significant interest from high calibre new investors
from across the globe, were central to the success of the
fundraising. Investors in the new Fund are a diverse and well
balanced cross-section of public and private pension funds,
sovereign wealth funds, financial institutions, endowments and
family offices, and other institutional investors in North America,
Europe, Australia, Asia and the Middle East. Over 50% of
commitments to the Fund come from public pensions and sovereign
wealth funds with significant interest from new investors in Asia,
the Middle East and the United States.
"We are very pleased with the strong support of
Nordic Capital's existing investors, which demonstrates their
confidence in the Fund's investment strategy. Nordic Capital
continues to partner with investors who in a number of cases have
supported Nordic Capital since the early 1990s, and many of whom
have substantially increased their commitment levels over prior
funds. In addition we welcome the world class new investors from
across the globe who have joined the partnership," comments Joakim
Karlsson, Co-Managing Partner, NC Advisory AB, advisor to the
Nordic Capital Funds.
Nordic Capital was established in 1989 and
is one of Northern Europe's most active and successful private
equity investors. Since 2011 alone, Nordic Capital Funds have
completed 10 exits, generated gross proceeds to the Nordic Capital
investors of EUR 6.0 billion, and invested in 11 new portfolio
companies.
MVision Private Equity Advisers acted as exclusive
global fundraising adviser for Fund VIII. Ropes & Gray LLP
acted as legal counsel to Nordic Capital during the
fundraising.
Contact information:
Katarina Janerud, Communications Manager
NC Advisory AB, advisor to the Nordic Capital Funds
Tel: +46 709 69 69 99
katarina.janerud@nordiccapital.com
About Nordic Capital
Nordic Capital private equity funds have invested in
mid-market companies primarily in the Nordic region since 1989.
Through committed ownership and by targeting strategic development
and operational improvements, Nordic Capital enables value creation
in its investments. Nordic Capital Funds invest in companies in
northern Europe and in selected investment opportunities
internationally. Nordic Capital Funds' investors are principally
international institutions. Nordic Capital Funds are based in
Jersey, Channel Islands and are advised by the NC Advisory
companies in Sweden, Denmark, Finland, Norway, Germany and the UK.
Additional information about Nordic Capital is available at
www.nordiccapital.com
Note: US-dollar equivalents for euro figures included in
the release. Based on an exchange rate of USD 1.37 per euro as of
December 19, 2013.
About Nordic Capital Private Equity Funds
Since the start in 1989, Nordic Capital Private Equity Funds
have invested in large and medium sized companies, primarily in
Northern Europe. Through committed ownership and by targeting
strategic development and operational improvements, Nordic Capital
creates value in its investments. The funds invest in companies in
Northern Europe and in selected investment opportunities
internationally. They are based in Jersey, Channel Islands, and are
advised by the NC Advisory companies in Sweden, Denmark, Finland,
Norway, Germany and the UK. Additional information about Nordic
Capital is available through its corporate website, www.nordiccapital.com.
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