Accent Equity’s Invite-Only $575M Fund

It’s that time of the year again—holiday invites show up, belts get too tight and you’re at parties you might not need to be. But, there are some folks who will be coming across at least one invite they just couldn’t turn down. That was the case earlier this year, when Swedish private equity firm Accent Equity Partners told LPs it would be putting together an invite-only fund.

In December, Accent Equity is expected to announce that its third official fund will raise $575 million (or about SEK3.8 billion). Potential LPs need not get excited, however. It’s already closed.

Deals by Accent include its 2008 investment in Mont Blanc Group, a maker of car equipment racks (at last count, booking SEK250 million in sales, according to the PE firm’s site); in 2007, the PE firm backed Scandic Hotels, the Nordic region’s biggest hotel chain; and, in 2008, it backed confectioner Candyking.

Accent’s PE funds have only grown slightly in size each new fund (€380 million in 2007); at that point, the private equity firm stated it was managing €700 million. Specifics on its initial fund were not available. Fund performance data was not immediately available. Prior funds were made up of US, Asian and European investors including pensions, funds of funds and institutional backers and it is said Accent’s LP base is very similar, based on its invite-only fund.

Shortly after raising its 2007 fund, Accent named Niklas Sloutski deputy CEO; he would eventually move into the CEO role.

Accent did not provide comment by press time for this story.