Waterland raises €1.55bn for sixth fund

The GP began raising at the start of 2015 and claims the vehicle was oversubscribed.

Waterland has completed one deal so far this year, having acquired a stake in Berlin-based international fashion trade show organiser Premium Exhibitions from previous owner Norbert Tillmann in mid-January.

MVision acted as placement agent, while Clifford Chance provided legal advice.

Investors
Both Existing and new investors invested in the Dutch GP's sixth fund. Institutional investors from Europe and the US committed 80% of the fund, split equally between the two regions. The remainder was provided by investors from the Middle East and Asia-Pacific regions, which each contributed 10% of the total.

Pension plans represent the largest share of the investor base.

Investments
WPEF VI will look to take majority stakes in mid-sized companies in fragmented sectors. The fund is targeting western and central Europe, particularly the Benelux and DACH regions, as well as opportunities in Poland.

The sixth fund will continue to implement the buy-and-build investment strategy previous Waterland vehicles have followed.

The overflow fund can be deployed in situations where WPEF VI requires additional capital.

People
Frank Vlayen is managing principal at Waterland, while Rob Thielen is the GP's chairperson.

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• Topics
• Benelux
• Buyout
• Waterland Private Equity
• Netherlands
• Unq2015May