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White & Case advises Nordic Capital on largest-ever Nordic private equity fund

White & Case has advised Nordic Capital, a Swedish-based buyout firm, on the structuring, establishment and closing of a Nordic-focused private equity fund at its hard cap of EUR4.3bn.

White & Case has advised Nordic Capital, a Swedish-based buyout firm, on the structuring, establishment and closing of a Nordic-focused private equity fund at its hard cap of EUR4.3bn.

The fund, Nordic Capital Fund VII, is the largest ever raised for investment in the region, and exceeded its initial target by EUR600m. The fundraising reached its first closing in 10 weeks, one of the fastest ever achieved for a fund of this size.

The fund will primarily invest in large to medium-sized companies in the Nordic region with a focus on health care-related sectors, but has the ability to invest globally. The White & Case team led the investor negotiation process, and also advised on the co-investment and carried interest-related incentive arrangements for the Nordic Capital executive team.

‘We are delighted to have assisted Nordic Capital in reaching their hard cap and raising the largest-ever Nordic-focused private equity fund in what are undoubtedly challenging market conditions,’ says London-based White & Case partner Matthew Judd (photo).

‘The fundraising was a co-ordinated effort between our London, Stockholm and New York based teams. The capabilities of this international team meant that we were able to advise Nordic Capital on a structure to address the complex needs of a diverse pool of more than 200 investors across Europe, the US, Asia, the Middle East and Australia.’

The White & Case team advising Nordic Capital on the fundraising was led by Judd working with an international team that included partners Ulf Johansson in Stockholm and Ken Raskin in New York, lead associate Anand Damodaran (London), Sonali Siriwardena and Jeremy Reynolds (London), Lars Barnheim and Anders Olsson (Stockholm), Jeremy Naylor, Jason Rothschild and Gisella Rivera (New York).

White & Case has extensive experience in advising asset management clients ranging from private equity fund managers to blue-chip financial institutions and large investors, including sovereign wealth funds. The firm has a total of more than 2,400 lawyers in 34 offices in 23 countries.

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