Nordic Capital registers latest flagship fund

The Luxembourg filing is dated 8 December, with Alpha and Beta sub-funds registered on 9 December.

Nordic Capital declined to comment.

The GP held a final close for Nordic Capital X in October 2020 on EUR 6.1bn, having registered the fund in March that year. Its predecessor vehicle held a final close in May 2018 on EUR 4.3bn.
LPs in the Nordic Capital X include public pension funds from the US and the UK, as well as asset managers including Truffle Invest.

Nordic Capital X has made five platform investments in Europe to date, according to Unquote Data. The strategy also invests in the US, generally targeting healthcare opportunities such as healthcare data platform Inovalon, in which the GP invested in November 2021. The fund makes investments in business and industrial services, technology, financial services and healthcare.

In addition to its flagship funds, Nordic Capital manages a mid-market, Europe-focused strategy. The first vehicle in this series, Nordic Capital Evolution Fund, held a final close in June 2021 on EUR 1.2bn. The vehicle invests EUR 35m-150m per deal in companies with enterprise values of EUR 50m-300m, targeting sectors including healthcare, technology, payments and financial services.

Portfolio companies in the Evolution Fund include hand and wrist surgery clinic operator Equipe Zorgbedrijven; the GP acquired a take in the Gimv-backed company in July 2021.

Nordic Capital has completed 14 acquisitions and seven exits over the past 12 months - including that of Veonet, the parent company of Nordic Capital's Germany-based opthamology group Oberscharrer Gruppe.

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