Danske fund-of-funds PEP V in €534m first close

Final close of Danske PEP V is expected to be held in spring 2012. The fund's target was set at €600m and Danske expects to reach its €650m hard-cap. The fund has a 10-year lifespan. Fees and carry correspond to industry standards.

Investors
Commitments to the fund came primarily from institutional investors in the Nordic countries.

Investments
The fund will invest in small- and mid-cap buyout funds. It will also consider secondaries opportunities and could co-invest with other funds in Danske's portfolio. Approximately half of the raised capital will be invested across Western Europe, while the other half will be invested in North America. This investment strategy is similar to previous Danske PEP funds.

People
John Danielsen, managing partner, led the fundraising for Danske Private Equity Partners. 

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• Topics
• Nordics
• Fund-of-funds