Litorina holds final close for fifth fund

Nicole Tovstiga
29 August 2018

Tweet
Facebook
LinkedIn
Google plus
Send to

Small-cap buyout firm Litorina Capital Advisors has held a final close on SEK 3bn for its fifth flagship buyout vehicle, Litorina V fund.

The fund closed on its target of SEK 3bn, an increase of 20% from its predecessor, Litorina IV.

Litorina launched its fifth fund in June 2017 with a target of SEK 3bn (around €300m) and hard-cap of SEK 3.25bn. The vehicle held a first close on SEK 2.5bn in November 2017.

Quest acted as a placement agent, and Litorina received legal advice from Proskauer Rose and Vinge during the capital procurement process.

Investors
Institutional investors from Europe, North America and Asia have committed capital to the fund. They comprise a mix of pension funds, asset managers, insurance companies and funds-of-funds.

Investments
The fund will continue its predecessor's strategy of investing in mainly Swedish companies with an enterprise value of between SEK 200m-1bn. Litorina's strategy for its portfolio companies is to attain profitable growth through expansion and industrial development.

To date, Litorina V has made investments in Stockholm-based geographic information technology firm Digpro, as well as in fresh food distributors Bergfalk and Johan in Hallen, which together formed a new group.

People
Litorina – Jörgen Ekberg (managing partner).