Nordic buyout investor Polaris Private Equity (Polaris) has held the first close of Polaris Flexible Capital (PFC) at DKK500 million. The fund has a final total target of DKK1 billion.
PFC is a new fund launched by Polaris in 2021 to make investments in subordinated loan capital (junior capital etc.) and minority shareholdings. The Fund will make capital available to companies which need financial backing while maintaining control of their business, and is expected to begin to deploy capital this quarter. The closing follows Polaris’ successful completion of fundraising for its latest flagship vehicle, Polaris Private Equity V K/S, which was oversubscribed and closed at its hard cap of EUR650 million on 31 January.
PFC is led by Polaris Partner Jesper Langmack, who joined the firm in 2021 from Danica Pension, where he was Chief Investment Officer.
