PRINT THIS PAGE Nordic Mezzanine holds third interim closing at E236m20/10/2003. Source: AltAssets. 
 Nordic Mezzanine has held a third interim closing on its mid-market buy-out and expansion capital mezzanine fund at E236m. The firm is confident of reaching its E240m target by the end of the year.
The firm began fundraising in October 2002. The fund is Nordic Mezzanine's second and will focus on the Nordic region and Germany. But the firm does not rule out investments in other areas of continental Europe and the UK.
This mezzanine fund closing is the latest in a series to have taken place in the last few months. UK-based Intermediate Capital Group recently held a first closing at E250m. France-based Euromezzanine closed its fourth fund ahead of target at E427m last week and Goldman Sachs raised the largest ever mezzanine fund at $2.7bn in September.
Other mezzanine funds to have held closes in the last two months include US Prism Capital and the New York Life Investment Management's mezzanine offering. Carlyle Group also launched its first ever mezzanine fund, targeting $400m, last month. The fund is expected to close some time next year.
As private equity firms find it increasingly difficult to raise financing in a hostile economic environment, the popularity of mezzanine investment has been growing. This spate of recent closes suggests that there is little sign of this trend slowing down.
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