NORD Holding fund-of-funds backs HgCapital

Hanover-based NORD Holding has secured commitments amounting to over Euro 75m for the group’s first fund-of-funds vehicle. Structured as a standard ten-year German limited partnership, NORD Kapitalbeteiligungsgesellschaft mbH is expected to reach its target of Euro 150m early next year. At the present time, the fund has made hard commitments to seven funds, all of which are based in Germany except for MUST4, the latest vehicle from HgCapital. Nord Holdings is seeking to build a balanced portfolio of positions in funds across all stages and sectors of activity; the management team is currently looking at making commitments to a German biotechnology fund and a Scandinavian-based vehicle. Some 25% of total fund volume is expected to be allocated to vehicles investing outside Germany; strongly-focused funds are understood to be of particular interest.

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