Ropes & Gray advises Nordic Capital on new EUR4.3bn fundraising

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Ropes & Gray has advised Nordic Capital, a private equity investor in the Nordic region, on the successful closing of its ninth fund. The oversubscribed fund, which raised EUR4.3 billion, exceeded its EUR3.5 billion target by 23 per cent in seven months.

The fundraising - Fund IX - enjoyed a re-up rate of over 70 per cent from investors in predecessor funds, while also attracting commitments from a number of new investors. LP commitments represented a well-diversified institutional mix with Fund IX investors including public and private pension funds (circa 35 per cent), sovereign wealth funds (circa 20 per cent), fund of funds (circa 15 per cent), family offices (circa15 per cent), financial institutions and endowments (circa 15 per cent). The Fund benefited from broad geographic support, expanding its well established investor base in North America (circa 40 per cent), Europe (circa 35 per cent) and Asia (circa 15 per cent), and attracting new investors in the Middle East and South America (circa 10 per cent)
 
A cross-border team from Ropes & Gray’s London, New York and Boston offices was led by investment funds partner Matthew Judd and associate Joshua Cronin, in London. Other members of the team included funds associates Rae Shee and Alexandra Finlayson, finance partner Malcolm Hitching and associate Jack Bodkin all based in London; US tax partner Jay Milkes and associate Denise Sohn, and ERISA counsel Sabrina Glaser, all based in New York; and US funds partner Peter Laybourn and associate Arthur Andersen, both based in Boston.
 
Matthew Judd, global co-head of the Private Investment Funds Group at Ropes & Gray, said: “The success of this fundraising demonstrates both Nordic Capital’s long-standing quality reputation and the continuing attraction of European private equity for investors.”
 
A pioneer at the inception of the private investment funds industry, Ropes & Gray today has one of the largest and most sophisticated investment fund practices in the world, advising clients on the full range of private fund strategies. The size, scope and integration of the firm’s sponsor and investor practices provide the team with unequalled insight into market terms and developments globally.