EUROPE - Nordic Mezzanine holds EUR 320m close of third fund

Rikke
21 January 2010

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Nordic Mezzanine has held a final close of Nordic Mezzanine Fund III on EUR 320m, an increase in fund size of 30% compared to its predecessor.

The fund secured commitments from institutional investors in the Nordic region, as well as from continental Europe. The majority of existing LPs subscribed to the fund, which also attracted new investors. Pension funds, family offices and insurance companies were all represented in the investor base.

The vehicle will focus on providing financing to mid-market buyouts, as well as expansion capital, in the Nordic region, the German speaking countries, and Benelux. It will look to invest EUR 5-30m per deal, with an aim to complete three to four investments per year.

It has a life-span of 10+1+1, and terms and conditions were described as standard.

The fund is structured as an English limited partnership and managed by Nordic Mezzanine UK Limited, a company authorised and regulated by the Financial Services Authority.