IK Investment Partners (IK), a Pan-European private equity firm, has closed the IK Small Cap III Fund (IK Small Cap III) at its hard cap with commitments of EUR1.2 billion.
The Fund is more than double the size of its EUR550 million predecessor, IK Small Cap II Fund, and was raised exclusively with the support of existing investors across the IK platform.
IK Small Cap III will continue to employ the same investment strategy focused on growing businesses across IK’s core sectors of Business Services, Healthcare, Consumer and Industrials and will make investments in companies with enterprise values of between EUR50 million and EUR150 million. The Fund includes a dedicated Development Capital pool which will focus on investing in smaller companies valued up to EUR50 million, in line with IK’s original Small Cap I Fund strategy.
The closing of the Fund follows a period of significant fundraising for IK, which has held a final close on funds with over EUR4.3 billion of commitments in the last 12 months, reflecting continued investor confidence and support despite the ongoing pandemic.
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