Maj Invest holds €215m first close on fifth fund

The GP said Maj Invest Equity 5 had raised around 80% of its target, suggesting a goal of around €270m – an increase of around €100m on the size of its previous fund. A second closing is expected before the end of the year.

Maj's previous fund, Maj Invest Equity 4, was announced in 2011 and held a final close of SEK 1.2bn (€163m) in February 2013. It was the first vehicle to be raised under the Maj Invest brand, following the GP's change from LD Equity a few years prior. The GP said in a statement its fourth vehicle is currently fully invested and still holds eight companies in its portfolio.

In July, Maj's fourth fund sold Danish slaughterhouse machinery manufacturer SFK Leblanc to fellow Danish GP Axcel.

Investors
Backers of Maj's fifth fund include new and existing investors, with LPs such as Danish pension fund PKA, Danish insurance group Tryghedsgruppen, and state-backed growth fund Dansk Vækstkapital II committing.

The GP said several international LPs had also indicated an interest in the fund at the second close.

Investments
Maj Invest Equity 5 will largely follow the strategy of its predecessor. The fund will invest in small and medium-sized Danish companies with revenues of €13-130m, typically taking minority and majority stakes of between 40-85%.

People
Maj Invest – Erik Holm (managing partner).

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