ATP Private Equity Partners V holds €800m final close

Danish pension fund ATP is the sole investor in the fund.

The investment period for the Copenhagen-based vehicle stands at two years; the last investment from the fund will most likely be realised within a 15-year period. Approximately 75-80% of the capital will be used for re-ups in funds managed by GPs already backed by ATP.

ATP PEP's first fund, raised in 2003, generated a net IRR of 14.5% while the following two funds-of-funds from 2005 and 2007 both generated an IRR in excess of 10%. ATP is looking to raise its sixth fund-of-funds, of a similar size, in around two years' time.

ATP PEP is the private equity arm of Denmark's largest pension fund, ATP, which has €80bn in assets under management. Founded in 2001, ATP PEP manages €7.7bn on behalf of ATP, including this latest vehicle.

ATP PEP recently invested in Danish payments processing company Nets alongside Advent International and Bain Capital. ATP PEP was the largest investor, investing DKK 3.6bn, comprising DKK 300m in equity and DKK 3.3bn structured as a payment-in-kind note.

Investments
ATP PEP V will invest in funds managed by GPs already backed by ATP PEP, as well as new ones. ATP PEP will continue the same investment strategy as its previous four funds, targeting diversified fund commitments within the buyout, venture capital and distressed segments. Around 70% will be directed toward buyout funds in Europe and the US. Selective investments will also be made in the rest of the world. The fund will focus on co-investments with GPs of the ATP PEP portfolio.

People
Torben Vangstrup is managing partner at ATP PEP.

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• Topics
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• ATP private Equity Partners