Priveq holds first and final close for sixth fund

The GP took three months to reach its target amount, having had the first meeting with investors in mid-March.

The vehicle is bigger than its predecessor, Priveq Investment V, which closed in December 2015 on SEK 2.3bn. According to Unquote Data, the fund has made 13 platform investments so far, focusing on buyouts of Swedish and Nordic companies with revenues in the SEK 100m-1bn range, across all verticals. Its most recent deal was a 55% stake in Plint, a Swedish language service and media technology company.

Vinge and Proskauer advised Priveq on the latest fund, while Athos Partners acted as placement agent for the GP. 

Investors
Priveq Investment VI saw commitments from both new and existing LPs based in Sweden and overseas. 

The GP said that approximately 26% of the capital comes from Nordic investors, including Skandia Liv and the Fourth AP Fund, while the remainder came from the rest of Europe and the US.

The fund's investor base is made up of public and private pension funds, insurance companies, charitable foundations, endowments, public institutions, family offices and funds-of-funds.

Investments
The vehicle will be used to develop growth companies with a turnover of SEK 100m-1bn.

People
Priveq – Louise Nilsson (CEO).

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• Topics
• Funds
• Nordics
• Priveq Partners
• Sweden
• Proskauer