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Laxman Pai, Opalesque Asia: Nordic Capital has closed Europe's largest PE fund of the year on €9 billion ($8.8bn), beating its initial €8 billion target after just nine months on the road.
With a 100% re-up rate, Nordic Capital Fund XI is over 45% bigger than its predecessor large-cap fund, which raised €6.1bn in October 2020.
Fund XI attracted investors from across the globe, with investors from every continent including 34% from North America, 31% from Europe, 23% from Asia, 10% from the Middle East, and 1% from RoW. The investor base comprises a well-diversified mix of institutional investors: public and private pension funds (42%); sovereign wealth funds (23%); fund of funds (14%); endowments and family offices (11%) and financial institutions (10%).
"The close of Nordic Capital's largest-ever fund is a significant milestone for Nordic Capital. To have secured such strong commitments from both new and returning investors and robustly exceeded the fund target size in some of the most challenging fundraising conditions in private equity history is a great achievement for the team," said Kristoffer Melinder, Managing Partner, Nordic Capital Advisors.
The private equity firm headquartered in Stockholm, Sweden said in a press note that Nordic Capital Fund XI saw strong demand from a diversified global base of new and returning blue-chip investors that were attracted to Nordic Capital's focused investment strategy, including its niche-sourcing and sub...................... To view our full article Click here
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