Adelis hits €420m final close for maiden fund

Adelis Equity Partners Fund I, initially targeting €340m, held a first close on €230m after less than six months on the road, unquote" reported in August.

The fund, launched in February 2013, has a traditional 10-year lifespan. Adelis Equity Fund I is a standard Swedish limited liability company and the largest on-shore private equity fund operating in the Nordic region, according to the GP.

Park Hill Group acted as placement agent. O'Melveny Myers and Vinge provided legal advice on the fundraise.

The fund was launched by former Triton executive Jan Åkesson and Gustav Bard, former chairman for the Nordic region at 3i. The founders were joined in January by Johan Seger, previously northern Europe operations director at 3i, and in April former 3i senior deal-maker Steffen Thomsen.

The firm is based in Stockholm, with an additional office in Copenhagen.

Investments
Adelis Equity Partners Fund I will acquire majority interests in small and medium-sized Nordic businesses with enterprise values between €20m and €200m, with revenues in the €30-400m range.

Investors
Investors include pension funds, foundations, family offices, fund-of-funds and asset managers from Europe and the US.

People
Jan Åkesson, Gustav Bard, Johan Seger and Steffen Thomsen are partners at Adelis. Adalbjörn Stefansson is a partner and head of investor relations.

 

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