Polaris Private Equity has announced the first closing of a new private equity fund with initial commitments of more than EUR275m that will invest in small and medium-sized industrial a
Polaris Private Equity has announced the first closing of a new private equity fund with initial commitments of more than EUR275m that will invest in small and medium-sized industrial and service sector businesses based in Denmark and Sweden.
The commitments for Polaris Private Equity III are being provided by the existing group of investors, including AP Moller Maersk, Danske Bank and ATP Private Equity Partners.
In addition, a number of new Danish investors are backing the new fund, including Salling Fonden, FIH, Primo Holding and CL Davids Fond og Samling and a number of international investors including Pohjola Private Equity Funds (Finland), Alliance Trust Equity Partners (Scotland), the private equity arm of Alliance Trust, ACG Private Equity (France), Parvilla (France) and Euro Private Equity (Switzerland).
‘The strong support for our new fund from both new and existing investors is testament to Polaris and our entire team for the investment strategy we have pursued and the results we have achieved with Fund I and Fund II. It shows confidence in our business model – even during the current quite challenging times,’ says Erik G. Hansen, chairman of Polaris Management.
‘Having reached more than EUR275m at first closing and with prospects of additional commitments from more investors as we approach the final closing later this year, we stand well prepared to continue growing in a market offering good opportunities for new investments and add-on investments for our existing portfolio businesses,’ adds Jan Johan Kühl, managing partner of Polaris (pictured).
