Nordic Capital has closed its Nordic Capital Fund VIII on its hard cap of EUR 3.5 billion ($4.8 billion). MVision Private Equity Advisors worked as the placement agent on the fundraising. Ropes & Gray worked as legal counsel to Nordic Capital during the fundraising.
Nordic Capital announces the close of Nordic Capital Fund VIII (“the Fund”) at its hard cap of EUR 3.5 billion (USD 4.8 billion). Investor demand exceeded the Fund target by nearly 30%.
The new Fund will build on the well proven strategy executed by Nordic Capital’s prior seven funds, investing in mid-market companies with strong market positions and clear growth potential across the Nordic region and Europe. Healthcare investments will continue to play an important role in the Fund’s capital allocation. As with previous funds, Nordic Capital’s experienced investment team will target control oriented investments, supporting growth in portfolio companies through well-defined investment themes.
“We believe Nordic Capital’s strong long term track record, local networks and world class organisation means that Fund VIII is well positioned to capitalise on the many attractive investment opportunities that Nordic Capital cultivates in its chosen markets. Nordic Capital Funds have demonstrated a proven ability to consistently return capital to investors, over a 24 year history and through many economic cycles, and Nordic Capital expects to continue to build on that success with Fund VIII,” says Kristoffer Melinder, Co-Managing Partner, NC Advisory AB, advisor to the Nordic Capital Funds.
Continued strong support from key existing investors, who represent 64% of the committed capital in Fund VIII, combined with significant interest from high calibre new investors from across the globe, were central to the success of the fundraising. Investors in the new Fund are a diverse and well balanced cross-section of public and private pension funds, sovereign wealth funds, financial institutions, endowments and family offices, and other institutional investors in North America, Europe, Australia, Asia and the Middle East. Over 50% of commitments to the Fund come from public pensions and sovereign wealth funds with significant interest from new investors in Asia, the Middle East and the United States.
“We are very pleased with the strong support of Nordic Capital’s existing investors, which demonstrates their confidence in the Fund’s investment strategy. Nordic Capital continues to partner with investors who in a number of cases have supported Nordic Capital since the early 1990s, and many of whom have substantially increased their commitment levels over prior funds. In addition we welcome the world class new investors from across the globe who have joined the partnership,” comments Joakim Karlsson, Co-Managing Partner, NC Advisory AB, advisor to the Nordic Capital Funds.
Nordic Capital was established in 1989 and is one of Northern Europe’s most active and successful private equity investors. Since 2011 alone, Nordic Capital Funds have completed 10 exits, generated gross proceeds to the Nordic Capital investors of EUR 6.0 billion, and invested in 11 new portfolio companies.
MVision Private Equity Advisers acted as exclusive global fundraising adviser for Fund VIII. Ropes & Gray LLP acted as legal counsel to Nordic Capital during the fundraising.