Nordic private equity firm Altor has closed its fourth buyout fund on €2bn after less than three months on the road.
Most of the capital was raised from Altor’s existing LPs and only “a select few” new investors were invited, said the firm.
Nordic investors provided 20 per cent of total commitments with the rest coming from the US, Europe, Middle East and Asia.
Altor targets companies with revenues of between €50m and €500m. The new fund will back privately-owned companies and make minority investments in publicly traded companies and distressed debt.
Altor partner Harald Mix said, “During the past year Altor has successfully realized four investments, including OW Bunker, Max Matthissen, Eurocater and Byggmax. The returns have been very strong, equally important all these companies have found new owners who will be able to further develop these businesses in the future.
Meanwhile, Altor is preparing to float its portfolio company Apotek Hjartat on the Stockholm Stock Exchange after five years of ownership.
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