First closing of Polaris Private Equity III at €275 million
21 Apr 2009
Polaris launching third private equity fund
• Polaris Private Equity III will have commitments of more than EUR 275m at first closing
• A significant number of new, international investors joining Polaris’ existing group of investors
• Investment strategy unchanged with focus on Sweden and Denmark
Polaris Private Equity (“Polaris”) announces the first closing of a new private equity fund (“Fund III”) with initial commitments of more than EUR 275m that will invest in small and medium-sized industrial and service sector businesses based in Denmark and Sweden.
The commitments for Polaris Private Equity III are being provided by the existing group of investors, including A.P. Moller Maersk, Danske Bank and ATP Private Equity Partners. In addition, a number of new Danish investors are backing the new fund, including Salling Fonden, FIH, Primo Holding and C.L. Davids Fond og Samling and a number of international investors including Pohjola Private Equity Funds (Finland), Alliance Trust Equity Partners (Scotland), the private equity arm of Alliance Trust PLC, a FTSE-100 company and the largest listed investment trust in the UK by market capitalisation, ACG Private Equity (France), Parvilla (France) and Euro Private Equity (Switzerland).
“The strong support for our new fund from both new and existing investors is testament to Polaris and our entire team for the investment strategy we have pursued and the results we have achieved with Fund I and Fund II. It shows confidence in our business model – even during the current quite challenging times,” says Erik G. Hansen, chairman of Polaris Management.more