Priveq V holds first and final close on SEK 2.3bn hard-cap

The close was revealed late last year through a Form D filed with the US's Securities and Exchange Commission on 21 December, though the formal announcement was made in January. The SEC filing revealed a SEK 2bn target for the fund.

Fundraising was led by placement agent Athos Partners and the fund is incorporated in Sweden.

In addition to the fund close, Priveq also announced the appointment of 48-year-old Louise Nilsson as the firm's new CEO. She replaces current CEO Magnus Hardmeier, who will move into a role as chair of the board.

Investors
A quarter of the LPs in Priveq V are Swedish, with the remaining 75% being made up of investors from Europe, the US and Asia.

The investor group includes Swedish life insurance group Skandia Liv, the Fourth Swedish National Pension Fund (AP4), Kommunal Landspensjonskasse and the European Investment Fund.

The minimum commitment for LPs in the vehicle was just shy of $3m.

Investments
Priveq V will be deployed in buyouts of Swedish and Nordic companies with revenues ranging from SEK 100m-1bn, across all verticals.

The GP's current portfolio comprises 13 companies across the Nordic region, employing a total of 1,700 people and generating SEK 6bn in overall revenue.

People
Priveq – Louise Nilsson (CEO); Magnus Hardmeier (outgoing CEO, incoming chairperson).

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• Topics
• Funds
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• Priveq Partners
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