Armada has held the final closing of Armada Fund V, which invests in growing and profitable businesses in Northern Europe and acts as financing partner to company owners and financial sponsors.
The Fund received commitments from a diverse base of European institutional investors, including private and public pension funds, insurance companies, fund-of-funds, government agencies and institutions. The fund size exceeded its original target size.
The Fund makes tailor-made debt and equity investments of EUR5-30 million in small and medium sized businesses. It has already made seven initial investments, with strong early performance.
The Fund’s investment team builds on a track-record and experience of investing EUR230 million in 25 buyout and growth financing transactions since 2008, having fully realised 13 investments that have generated a gross IRR of 26.7 per cent and an investment multiple of 2.14x.
Elm Capital and Borenius advised Armada on the fundraising.
