Nordic Capital has closed the Nordic Capital Fund VIII at its hard cap of EUR3.5bn (USD4.8bn).
Investor demand exceeded the fund target by nearly 30 per cent.
The new fund will build on the 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, advisor to the Nordic Capital Funds.
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 per cent 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 US.
MVision Private Equity Advisers acted as exclusive global fundraising adviser for Fund VIII. Ropes & Gray acted as legal counsel to Nordic Capital during the fundraising.
