Adelis, formed by Triton and 3i execs, heads for hard cap

  • Adelis approaches 570 mln euro hard cap on Fund II
  • Already reached 500 mln euros target
  • Firm launched by former 3i, Triton execs

Adelis Equity Partners, launched by former 3i and Triton Advisers executives, has reached the target for its second fund and will soon hit the hard cap, according to a person with knowledge of the situation.

Adelis, Stockholm, is targeting 500 million euros ($561.4 million) for Fund II, with a 570 million euro hard cap, the person said. The firm has raised about 539 million euros so far, the person said.

Park Hill Group is placement agent.

Adalbjörn Stefansson, head of investor relations at Adelis, declined comment.

Adelis was launched to invest in lower-middle-market Nordic companies. The firm targets business services, niche industrials, consumer and healthcare.

Adelis was formed by Gustav Bard, former chief executive of 3i Nordic, and Jan Åkesson, former managing director of Triton Advisers.

The firm closed its debut fund in 2013 on 420 million euros, sourcing capital from investors in pensions, foundations and funds-of-funds from Europe and North America.

Action Item: Check out Adelis’s Form ADV: https://adviserinfo.sec.gov/IAPD/IAPDFirmSummary.aspx?ORG_PK=169534

Manchester United’s Wayne Rooney on May 24, 2017, lifts the trophy as his teammates celebrate victory over Ajax Amsterdam in the UEFA Europa League Final at Friends Arena in Stockholm. Photo courtesy Reuters/Phil Noble