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Nordic Focused Funds in Market – April 2012

by Jessica Duong

  • 30 Apr 2012
  • PE

The Funds in Market product maintained by Preqin holds information on 46 private equity funds currently in market that include the Nordic region as part of their geographic focus or that specifically target the comprising countries. Collectively, these funds are targeting an aggregate EUR 19.5 billion to invest in private equity opportunities in the region. Of these funds, 22 have had at least one interim close, garnering EUR 4.3 billion in aggregate capital commitments to date.

Real Estate is the most common fund type to include the Nordic states in its geographic fund focus, either exclusively or partially. There are 16 real estate vehicles presently in market targeting EUR 7.1 billion, 36% of total capital sought. The next most predominant fund types are buyout and venture capital, which includes venture general, early stage and start-up funds. According to Preqin’s database, there are eight buyout funds and eight venture capital funds now raising, seeking an aggregate EUR 7.3 billion and EUR 686 million respectively.

The top three funds in market in terms of target size, that have either an exclusive focus on investments in the Nordic region or as part of their overall geographic focus, are the Nordic Capital Fund VIII (EUR 4 billion), IK VII Fund (EUR 1.7 billion) and Avenue Europe Special Situations Fund II (EUR 1.5 billion).

The Nordic Capital Fund VIII is a buyout vehicle that targets investment opportunities in Europe-based companies, mainly in the Nordic region and the German-speaking countries. As with Nordic Capital’s previous funds in the series, the Nordic Capital Fund VIII also seeks out international investment opportunities outside their prioritised geographical scope, and operates in a wide range of industry sectors. The Nordic Capital Fund VIII has a target size of EUR 4 billion, and a hard cap of EUR 4.5 billion. In 2008, the Nordic Capital Fund VII amassed EUR 4.3 billion, surpassing its initial EUR 4 billion target.

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