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IK Investment Partners closes the largest fund to date at $3.2bn hard cap

Monday, June 01, 2020

Laxman Pai, Opalesque Asia:

Pan-European private equity firm IK Investment Partners has closed the €2.85 billion ($3.17 billion) IK IX Fund, at its hard cap, exceeding its €2.5 billion fundraising target.

IK IX Fund has surpassed its predecessor, which raised €1.85bn in 2016, and is the firm's largest fund to date.

The vehicle will continue to invest across Europe in businesses with enterprise values of between €100m and €500m. It will typically look to deploy between €50m and €200m per investment initially.

The middle-market buyout fund concentrates on investments in companies in Austria, Belgium, France, Germany, Luxembourg, the Netherlands, Nordic nations and Switzerland.

The fundraise attracted significant interest from a high-quality institutional investor base across Europe (60%), North America (30%), Asia (7%) and South America (3%), with over a third of the money raised coming from new limited partners investing in IK funds for the first time.

Investors include the $225.9 billion New York State Common Retirement Fund, Albany; $91.5 billion Minnesota State Board of Investment, St. Paul; and $44.7 billion Illinois Municipal Retirement Fund, Oak Brook.

Christopher Masek, IK CEO, said: "We are grateful for the confidence of our investors in our active approach to transforming European mid-market companies through international reach and sharpened operational capacities. We are confident that the IK IX Fund is well-positioned to leverage the strengths ......................

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