NORDIC - Altor closes third fund on EUR 2bn

The fund is composed of two parts: EUR 1.5bn in base commitments and EUR 500m in top-up commitments, which will serve primarily to develop portfolio companies. The fund, which has a longer investment horizon and a more flexible investment mandate than previous Altor vehicles, will have the same focus as its predecessor funds and will invest in medium-sized Nordic companies with turnover of EUR 50m to EUR 500m. Historically, Altor has made investments in the range of EUR 15m to EUR 200m, although most investments are approximately EUR 50m to EUR 75m.

The fund attracted over 50 investors and 95 % of the committed capital came from existing backers. Among the investors are Harvard Management Company, Pantheon Ventures and Skandia Liv. Nordic investors represent 28% of total commitments, with other European investors accounting for 33% and US investors providing the balance.

Altor raised EUR 650m in 2003 for its first fund, and attracted EUR 1.15bn for Fund II in 2006.

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• Topics
• Buyout
• Nordics