Vaaka Partners Buyout Fund II holds final close

Vaaka started marketing the fund in Q2 2012 with a €120m target and a hard-cap of €150m.

The vehicle has a 10-year lifespan. It is structured as a Finnish limited partnership.

The portfolio companies in the previous vehicle – Reima, Renewa, Musti ja Mirri, Nesco, Ovenia, and Produa – have seen their revenues grow in excess of 90% during the average three-year ownership period.

Investors
Investors are mainly Finnish and international pension funds and funds-of-funds. The fund counts 15 LPs in total.

Slightly more than half of the investors are based in Finland, 20% in the UK, and around 30% are from Holland, France and the rest of Europe.

Investments
The fund continues the investment strategy of its predecessor, Vaaka Partners Buyout I, and will complete majority buyouts in Finnish mid-market companies.

The turnover of target companies typically ranges between €10-100m.

Equity tickets range between €5-30m per transaction with a €10-15m sweet spot. There will be two to three investments per year.

Vaaka Partners Buyout Fund II made its first €20m investment in digital business Solita in March 2013.

People
Juha Peltola is a managing partner at Vaaka.

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