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Laxman Pai, Opalesque Asia:

Nordic Capital, a sector-specialist private equity investor, has closed its second mid-market fund at a hard cap of €2 billion ($2.09bn), beating its target of €1.4 billion.

The Nordic Capital Evolution II attracted excess demand from its launch and benefited from strong support from its current investor base, with a high re-up rate of over 100% by capital, and significant LP commitments from new investors and geographies, including a substantial increase from the Americas, said a media release from the investment firm focused on leveraged buyouts of established companies in Northern Europe and North America.

Joakim Lundvall, Partner and Co-Head of the Evolution advisory team said: "We are delighted to witness such strong demand for Evolution II from existing and new investors. Over the last three years, several founders of companies have formed partnerships with Nordic Capital because they have experienced first-hand how we can help make great companies even better and support their expansion into new markets."

Evolution II attracted investors from across the globe, including 41% from Europe, 35% from the Americas, 21% from Asia and 3% from the Middle East. The investor base comprises a well-diversified mix of institutional investors: public and private pension funds (41%); asset managers and advisers (26%); sovereign wealth funds (14%); family offices and foundations (13%); and financial institutions (6%).

Evolution II ......................

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