IK Investment Partners said Nov. 28 that its eighth mid cap fund raised 1.85 billion euros ($1.96 billion). IK VIII Fund exceeded its €1.6bn target and will make majority investments in companies with enterprise values up to approximately €500 million in IK’s core markets: Benelux, DACH, France and the Nordics. Kirkland & Ellis LLP acted as the legal counsel to the Fund.
IK Investment Partners raises €1.85 billion for its eighth mid cap fund
IK Investment Partners (“IK” or “the Firm”), a leading Pan-European private equity firm, announces that its eighth mid cap fund, the IK VIII Fund (“the Fund”), has received aggregate commitments of €1.85 billion.
Fundraising commenced in March 2016, and has seen strong demand from both existing and new investors, highlighting the continued confidence in IK’s disciplined investment strategy and unique geographical footprint. The Fund exceeded its €1.6bn target and secured commitments of €1.85bn from a high quality institutional investor base with a geographical spread across North America (37%), Europe (52%), Middle East (5%) and Asia (2%).
The Fund will continue to execute the same successful investment strategy applied to previous IK funds, making majority investments in companies with enterprise values up to approximately €500 million in IK’s core markets: Benelux, DACH, France and the Nordics. By targeting companies where, in partnership with management, distinct growth opportunities have been identified, the Firm will use its long standing industrial knowledge, experience and network, to continue building IK’s strong investment track record.
The Fund has to date announced three investments, all leveraging IK’s previous experience; Ellab, a manufacturer of thermal validation solutions; ZytoService, a compounder of pharmaceuticals for patient-individualised infusions; and SCHOCK, the world’s leading granite kitchen sink manufacturer.
“We are delighted by the response we have seen from the investor community during our fundraising. The Fund closing at its hard cap is a great indication of investors’ confidence in our investment approach and our ability to execute buy-and-build strategies within our portfolio,” says Mads Ryum Larsen, Head of IR and Partner at IK Investment Partners.
Christopher Masek, CEO, commented:
“Combining IK’s strong operational focus and active management philosophy with quality mid cap assets, seeking international development, provides a competitive edge in delivering transformational agendas and generating consistent returns for our investors. This fundraise builds on the successful momentum of over €2 billion in realised equity value since December 2014.”
IK also closed its first fund focused on the small cap market, the IK Small Cap I Fund, at its hard cap earlier this year, bringing the total amount raised over the past nine months to more than €2.1 billion.
Kirkland & Ellis LLP acted as the legal counsel to the Fund.
This press release is not an offer of securities for sale in the United States or any other jurisdiction and interests in the Fund may not be offered or sold in the United States or any other jurisdictions save in accordance with applicable law.