Sentica Partners holds first close on EUR50m

01 January 2009

Tweet
Facebook
LinkedIn
Google plus
Send to

Fund

Sentica Partners has held a first close of its third buyout fund on EUR50m. The fund was launched in early 2008 and has a lifespan of 10+1+1, with the usual terms and conditions. Sentica did not consult a placement agent, but Roschier, represented by partner Mika Alanko, provided legal advice.

Investors

Commitments came from existing investors, including Finnish Industry Investments Ltd, Ilmarinen Pension Insurance Company and Etera Mutual Pension Insurance Company. The minimum subscription is EUR1m and the maximum per LP is set at EUR25m. The fund's target is EUR100m.

Investments

Like previous vehicles, Sentica Buyout III will invest into the Finnish low mid-market, with a focus on companies with growth potential through internationalisation or new strategic focus. In particular, Sentica explores fragmented industries with opportunities for consolidation, and considers the Finnish business services sector to be an important segment with opportunities for domestic growth. Additionally, the GP will explore opportunities arising from spin-offs from larger corporations.

The fund will typically invest in companies with enterprise values of EUR15-50m, targeting equity investments of EUR4-12m per transaction. Although the fund's mandate allows for minority stakes, there are currently no plans for such investments. Sentica's buyout deals vary from 50-100% ownership stake. At the time of going to press, no investments have been from the fund. However, Sentica expects at least one deal to close early 2009.

People

Managing partner of Sentica, Mika Uotila, is the main manager of the fund. The Sentica buyout team, which currently consists of eight investment professionals including Uotila, is considering one or two new hires at analyst level.

Name: Sentica Buyout III

First Closing: EUR50m, November 2008

Focus: Low mid-market Finland

Contact: Mika Uotila

Address: Bulevardi 1, 00100 Helsinki, Finland

Tel: +358 207 529610

Advisers: Rochier (Legal).