Priveq wraps up sixth fund

Priveq has closed its sixth fund at SEK 2.5 billion.

Priveq has closed its sixth fund at SEK 2.5 billion. The fund’s limited partners include public and private pension funds, insurance companies, charitable foundations, endowments, public institutions, family offices and fund-of-funds. Proskauer advised Priveq on the fund. Priveq invests in companies operating in the consumer products and services, healthcare, information technology and software sectors.

PRESS RELEASE

London, June 19, 2020 – Leading international law firm Proskauer has advised Priveq on the closing of its sixth fund, Priveq Investment VI, which closed at SEK 2.5 billion.

Priveq is a leading Nordic lower mid-market growth and buyout investor. The firm invests in companies operating in the consumer products and services, healthcare, information technology and software sectors. This latest fund was significantly oversubscribed with strong backing from existing investors and substantial interest from new European and North American institutional investors.

The fund’s investor base consists of a diversified group of Nordic, European and North American investors, including public and private pension funds, insurance companies, charitable foundations, endowments, public institutions, family offices and fund-of-funds.
Private Investment Funds partner Nigel van Zyl comments: ‘Raising a fund from launch to hard cap in three months with a single close in an unprecedented environment says everything about Priveq – their stellar track-record, compelling investment strategy and deep relationships with their investors. We are delighted to have been able to partner with Priveq and help them achieve this great milestone.’

The Proskauer team was led by Private Investment Funds partner Nigel van Zyl and associate Nick Rose, alongside associates Rob Newham and Se Young (Sisi) Kim. The team was assisted by partner Matt Pincus and associate Brianna Reed (US tax), special regulatory counsel Anthony Drenzek (US corporate) and senior counsel Adam Scoll (ERISA).

Our Private Funds Group offers a complete package of services to private investment funds and investors, with a dynamic interdisciplinary global team of 150+ lawyers. Our group consistently ranks as a top-tier practice in leading industry publications, including as one of the top five “most active law firms” for sponsor-side fund formations, and as a top law firm for secondaries transactions. We advise across the asset class on the full range of matters, going beyond fund formation and fund raisings. We act as outside general counsel to our clients, advising on internal governance, compliance and organization, carried interest and co-investment arrangements, spinouts, reorganizations and fund restructurings. We also represent a range of institutional investors on their alternative investment programs.