2 February 2022 – Polaris Private Equity (“Polaris” or the “Firm”), a leading Nordic buyout investor, is pleased to announce the closing of Polaris Private Equity V K/S (“Fund V” or the “Fund”) on 31 January 2022. The Fund was oversubscribed and closed at its hard cap of €650 million, exceeding its target of €550 million. Including team commitments, the Fund totals €690 million (5.135 Billion DKK).
Fund V is the largest in Polaris’ history, solidifying the firm’s strategic growth whilst maintaining its investment specialization as a Nordic mid-market expert. The Fund is classed as an Article 8 vehicle under the EU’s Sustainable Finance Disclosure Regulation, promoting environmental and social characteristics.
The Firm’s previous vehicle closed on €450 million in 2016.
The Fund was raised with continued support from Polaris’ existing limited partners, as well as a group of new relationships which further diversify the investor base both by type and geography across private pension plans, sovereign wealth funds and established wealth managers.
Jan Johan Kühl, Managing Partner of Polaris, states: “We are grateful for and humbled by the ongoing support of our existing investors as well as the new investors who chose to join us on this journey. We will continue to focus on a strategy that has delivered for our limited partners since inception and look forward to continuing to build successful Nordic companies and create sustainable value for all stakeholders.”
With the conclusion of this raise, the Fund enables Polaris to maintain its long-standing regional strategy of investing primarily in directly sourced, Danish or Swedish middle-market companies. Thanks to substantial deal flow over the course of 2021, Fund V is currently 27% deployed, having completed five platform investments in the following Nordic companies:
- Contour Design, a market leader in the research, development and design of high-end ergonomic mouse and keyboard solutions.
- Stronger, a Direct-to-Consumer activewear and athleisure clothing brand designed for women of all ages.
- North, the first national Danish consultancy providing independent advisory services across pension and insurance brokerage, mortgage and financial procurement.
- Sinful, Scandinavia’s largest pure play e-commerce company for erotic products, selling a mix of third-party and own brand products.
- G&O Maritime Group, a supplier to the global maritime industry, manufacturing products for shipping companies, shipyards and engine manufacturers.
Houlihan Lokey served as exclusive global placement agent and advisor to Polaris, whilst Gorrissen Federspiel and Goodwin Procter provided legal advice.
-ENDS-
Notes to editors
About Polaris
Polaris, founded in 1998, is a Copenhagen-based buyout investor operating in the Danish and Swedish mid-market. The Firm partners with founders, family owners and management teams seeking a local, value-add partner that can help realise significant growth and value creation potential. Polaris specializes in six industries — consumer, industrials, services, healthcare, technology and financial services — and targets transactions generally between €35 million and €200 million.
