Altor Equity Partners Closes Three Billion Dollar Altor Fund III
Despite "turbulent fundraising markets", Altor Equity Partners have successfully closed their third fund, Altor Fund III, according to a press release dated August 22nd. The company was looking to raise 2 billion euros (approximately 3 billion dollars US) and was successful. The company stated that fifty investors have committed to the fund, and that a full 95% of the fund's capital came from existing investors in the Altor 2003 Fund (the company's year of inception) and the Altor Fund II.
Some of the investors in the new fund include: Harvard Management Company, Pantheon Ventures, Goldman Sachs Asset Management, SL Capital Partners and Allianz Private Equity Partners. Nordic investors contributed 28% of the new capital, other European investors contributed an additional 33%, and American investors contributed the remainder.
Altor have said that they will continue to focus on investing in "medium-sized" Nordic companies.
While exact numbers aren't available, Altor Equity Partners must be doing extremely well for their investors if they received this kind of support for their new fund from existing investors.
This was the largest fund launched by Altor to date. Their first fund launched with 650 million Euros, their second fund launched with 1.15 million Euros, and this third fund will be launching with a 2 billion Euro commitment from investors.
The company is led by Harald Mix, who is the managing partner of the company. Other partners include:
Fredrik Stromholm, Denis Viet-Jacobsen, Hugo Maurstad, Stefan Linder, Claes Ekstrom, Reynir Indahl, Jaakko Kivinen and Johan Cervin.
The company states that it invests "for the long term" and is looking to become partners with the companies that they invest in. They hope to shape strong companies with equally strong management teams, and have no problem providing additional capital to the companies that they initially invest in. Some of the companies in their portfolios include:
Helly Hansen, Papyrus and the Akers Group.
Altor Equity Partners is based in Stockholm, Sweden.
Filed under: Hedge Fund News | General Market News