Blue Equity holds first close on €78m for third fund

The vehicle has a DKK 750m hard-cap and will invest in small-cap Danish companies. It is larger than its predecessor, which held a final close in December 2017 on DKK 707m and is now fully invested. The vehicle was used to make 11 platform investments, most recently acquiring a 55% stake in Danish engineering company Bang & Beenfeldt, a 60% stake in tools and machinery manufacturer Junget, and a 40% stake in logistics business DTK Group.

Investors
The investors in the new fund consist mainly of LPs from its previous two funds alongside a few new investors. The GP said in a statement that much of the investor base is made up of families or funds that run, or have run, companies that match its investment focus.

Some of the GP's existing investors include PFA, industrial foundation Danfoss Fonden, family office Lind Invest, and energy company SE.

Investments
Like its previous funds, the latest vehicle will focus on acquiring majority and minority stakes in B2B Danish companies with revenues of DKK 50-250m.

Established in 2013, Blue Equity currently manages three funds, has made 22 platform investments in small Danish companies, and has so far exited 10 of them.

People
Blue Equity – Thomas Bonde, Christian Møller (managing partners).

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• Topics
• Buyout
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• Denmark