Altor announced the fundraising completion for Fund V at EUR 2.5bn.

Sweden 07 February 2019
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Altor Funds, a Stockholm, Sweden-based company operating a family of private equity funds focused on investing in and developing medium sized companies with a Nordic origin, announced that it completed the funding process of its Fund V at EUR 2.5bn ($2.8bn).

Altor Fund V, Altor's fifth fund, held a single closing at its hard cap of EUR 2.5 billion after a brief fundraising period, where the Fund was substantially oversubscribed.

The new fund will have a 15-year investment term, with investments generally aimed to be made in private companies with revenues typically in the range of EUR 50 to 500 million. Altor will continue investing in and developing mid‐market companies in the Nordic region but will also focus on opportunities in the German speaking‐region (DACH).

The fund is domiciled in Stockholm.

93% of the capital has been committed by existing investors, with only a select group of new investors being invited.

The investor base consists mainly of university endowments from the US, charitable foundations, insurance companies and pension funds. Nordic and DACH investors represent 32% of total commitments, with remaining capital being committed by investors mainly from the US, elsewhere in Europe and Middle East.

Altor Funds was founded in 2003 by a team led by Harald Mix, formerly a partner at Industri Kapital, another Nordic-focused private equity firm.