Waterland Private Equity Investments has closed its eighth fund at a hard cap of 2.5 billion euros. WPEF VIII’s limited partners included public pension plans, which represented the largest proportion of the investor base. The fund will invest in “medium-sized quality companies in fragmented growth markets in Europe.” MVision Private Equity Advisers was the fundraising advisor for Waterland.
Waterland Private Equity Investments (“Waterland”) is pleased to announce the closing of its eighth institutional fund, Waterland Private Equity Fund VIII (“WPEF VIII”) at €2.5 billion. The fund closed at the hard cap three months after its initial launch.
WPEF VIII was considerably oversubscribed with demand significantly exceeding the fundraising target, attributable to continued strong support from existing investors combined with significant interest from new investors.
The fundraise attracted commitments from world class institutional investors with over half headquartered in Europe, over a third in the United States, and select investors from the Middle East and Asia Pacific. Public pension plans represent the largest proportion of the investor base.
WPEF VIII expects to make control investments in medium-sized quality companies in fragmented growth markets in Europe (Benelux, DACH, Poland, UK, Ireland, Nordics and France) to finance organic and acquisitive growth. This is a continuation of the successful buy-and-build investment strategy applied to the Firm’s prior funds over the last two decades.
“The fundraising for WPEF VIII has been a great success and we are grateful for the support of our investors. It is a significant achievement for us to have closed Waterland’s largest fund to date in just three months, doing so completely remotely and during the COVID-19 pandemic. We look forward to making investments with our eighth fund, for which we see many attractive opportunities in the target region. We remain thankful for the continued support of our existing investors, and we are proud of the high quality of the new investors we now welcome into WPEF VIII.” said Frank Vlayen, Group Managing Partner.
Marc Lutgen, Head of Investor Relations, said: “The success of the fundraise of WPEF VIII despite the challenges presented by a global pandemic reflects investors’ confidence in Waterland’s strategy and team. We are grateful for the support our investors have shown us and their ease towards adapting their investment processes to enable remote diligence.”
MVision Private Equity Advisers acted as the global strategic fundraising adviser for Waterland. Kirkland & Ellis International LLP acted as the global legal, tax and regulatory counsel. De Brauw Blackstone Westbroek N.V. acted as Dutch legal counsel.