Polaris Private Equity Fund III raised EUR 275 million
Polaris Private Equity held a first close on its third fund, raising EUR 275 million. Polaris expects the fund will reach its target of €350 million by summer 2009.
The first close attracted commitments from 11 investors including the fund’s three returning backers; AP Moller Maersk, Danske Bank and ATP Private Equity Partners. Minimum subscriptions were set at €5 million and the GP contributed more than 1 % of the committed capital.
The fund will invest in small and medium-sized businesses in Denmark and Sweden and though it does not have any particular focus, Polaris has experience in the industrial, retail and service sectors. The fund’s main investment focus will be in enterprise with values of €40-100 million.
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