Independent fund and corporate services provider, the Aztec Group, has been selected by Altor to provide administration and depositary services to Altor Fund V, a fund domiciled in Sweden and whose Manager is regulated as an AIFM by the Swedish Financial Services Authority.
Focused on investing in and developing mid-market companies in Europe, with a particular focus on the Nordic and German-speaking DACH regions, Fund V was substantially oversubscribed, reaching its hard cap target of EUR2.5 billion in a single closing.
Fund V will have a 15-year investment term. Investments will generally be made in private companies with revenues typically in the range of EUR50 million to EUR500 million.
Aztec Group, which has provided outsourcing support to Altor since they launched their first fund in 2003, will deliver a wide range of administration, accounting and investor services to Fund V. The Group will also act as the fund’s depositary.
Simon King, Director and Private Equity Specialist for the Aztec Group, says: “Congratulations to Altor for another extremely successful fundraise, which underlines the enormous confidence their investor base and the market continues to have in their investment strategy. We’re delighted to have the opportunity to build on our long-standing partnership with Altor, and look forward to supporting them with this exciting new fund.”
Jonatan Lund Kirkhoff, CEO of Altor Fund Manager, says: “Aztec Group remains an important partner to our operations, having supported us with our operational and administration requirements since our very first fund. We look forward to continuing this close partnership.”
