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Nordic Capital PE fund closes at €4.3bn

Nordic region set to receive a boost in investments after private equity group’s latest flagship fund raises 23% more than its target.

Investment injection


Jassmyn Goh

Stockholm-based private equity group Nordic Capital’s flagship Fund IX closed fundraising on Monday after reaching €4.3bn.

The fund closed at 23% above its €3.5bn target after seven months of fundraising. Seventy percent of investors came from predecessor funds.

“The Nordic region, which continues to be a highly successful and stable incubator of high quality businesses, will be central to the deployment of the new fund, as will investing selectively in European businesses and in global healthcare,” Nordic Capital said in a statement.

The fund will focus on healthcare, financial services, technology and payments, consumer retail and industrial goods and services.

Limited partner investors include public and private funds (35%), sovereign wealth funds (20%), fund of funds (15%), family offices (15%), and financial institutions and endowments (15%).

Forty percent of the fund’s investors came from North America, followed by Europe (35%), Asia (15%), and the Middle East and South America (10%).

Nordic Capital Funds managing partner, Kristoffer Melinder, said: “Nordic Capital’s proven focused investment strategy, experienced team and strong track record, combined with a culture of close partnership with our investors, has attracted a group of blue chip investors”.

Nordic Capital primarily invests in large to medium-sized companies in the Nordic region, as well as German-speaking European countries.