Polaris Private Equity III has held its final close at EUR365m.
The number of investors has more than doubled, with international investors now accounting for nearly 40 per cent of the fund.
The investment focus remains on small and medium sized businesses based in Denmark and Sweden.
Commitments to the fund were provided by the existing Danish investor base, combined with a significant number of new investors from Denmark, Finland, France, the UK, the Netherlands and Switzerland.
“A closing of EUR365m during one of the worst financial crises of all time indicates strong confidence in our business model and the results that the team has accomplished. Additionally, it is very satisfactory that the number of investors has increased and that the international investors have acknowledged that Polaris is a serious and attractive player in the Nordic countries,” says Polaris chairman Erik G. Hansen.
“Having reached more than EUR365m at final close, exceeded our first and ambitious target of EUR350m and our last fund size of EUR270m. We have, at the same time, increased our investment group considerably and fulfilled our goal of having a significant share of international investors. Fund II is fully invested and only a month ago we made the first successful exit when selling Frösunda to HgCapital. Fund III got off to a good start with the investments in Alliance+ and Pysslingen and add-on acquisitions to these companies,” adds Polaris managing partner Jan Johan Kühl.
Acanthus acted as adviser and placement agent for Polaris Private Equity III.