BaltCap holds second close on €85m
BaltCap has held a second close for its BaltCap Private Equity Fund II (BPEF II) on €85m, as it moves towards its €100m target.
The fund now has €81.5m in available capital with subscribed commitments totalling €85m.
The fund held its first close on €63m at the start of 2014.
Investors
New investors include the Estonian, Latvian and Lithuanian pension funds managed by SEB Wealth Management, which committed a total of €16.36m from the three funds. Other LPs include fund-of-funds eQ Private Equity and J-Investicijos Family Office.
Investors from the fund's first close include cornerstone investor the Baltic Innovation Fund, the European Bank for Reconstruction and Development, Baltic pension funds managed by Swedbank Investment Funds, LHV Asset Management and Danske Capital.
Investments
The fund will target companies in the Baltic region with a focus on buy-and-build opportunities. BPEF II will seek controlling stakes, deploying equity tickets of €5-10m.
The vehicle has already made its debut investment through the €14.9m acquisition of Ecoservice, a Lithuanian waste management company.
People
Peeter Saks is managing partner of BaltCap.
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