23. mar 2009Polaris launching third private equity fund
• Polaris Private Equity III will have commitments of more than EUR 275m at first closing
• A significant number of new, international investors joining Polaris’ existing group of investors
• Investment strategy unchanged with focus on Sweden and Denmark
Polaris Private Equity (“Polaris”) announces the first closing of a new private equity fund (“Fund III”) with initial commitments of more than EUR 275m that will invest in small and medium-sized industrial and service sector businesses based in Denmark and Sweden.
The commitments for Polaris Private Equity III are being provided by the existing group of investors, including A.P. Moller Maersk, Danske Bank and ATP Private Equity Partners. In addition, a number of new Danish investors are backing the new fund, including Salling Fonden, FIH, Primo Holding and C.L. Davids Fond og Samling and a number of international investors including Pohjola Private Equity Funds (Finland), Alliance Trust Equity Partners (Scotland), the private equity arm of Alliance Trust PLC, a FTSE-100 company and the largest listed investment trust in the UK by market capitalisation, ACG Private Equity (France), Parvilla (France) and Euro Private Equity (Switzerland).
“The strong support for our new fund from both new and existing investors is testament to Polaris and our entire team for the investment strategy we have pursued and the results we have achieved with Fund I and Fund II. It shows confidence in our business model – even during the current quite challenging times,” says Erik G. Hansen, chairman of Polaris Management.
“Having reached more than EUR 275m at first closing and with prospects of additional commitments from more investors as we approach the final closing later this year, we stand well prepared to continue growing in a market offering good opportunities for new investments and add-on investments for our existing portfolio businesses,” adds Jan Johan Kühl, managing partner of Polaris.
“We will continue to stay focused on mid-sized companies in Denmark and Sweden. For Fund II, not least, that approach led to some very promising acquisitions of five businesses in Sweden that we have since strengthened through add-on acquisitions of ten other businesses. In addition to being one of the leading players in Denmark, these transactions make Polaris one of the most active private equity funds in Sweden, and that is a strategy we intend to continue and expand through Fund III,” says Jan Johan Kühl.
For further information, please contact:
Erik G. Hansen, Chairman, Polaris Management, mobile +45 2673 0388
Jan Johan Kühl, Managing Partner, Polaris, mobile +45 2325 3266, firstname.lastname@example.org
Download the press release here
For Danish edition click here
For Swedish edition click here