IK hits €2.85bn hard cap for easily its biggest ever fundraise

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IK Investment Partners has raised its biggest ever fund by some margin by hitting a €2.85bn hard cap final close for its ninth midcap vehicle.

The new vehicle is €1bn larger than the €1.85bn Fund VIII the firm closed in 2016.

European LPs make up the bulk of the raise at 60%, followed by North America at 30%, Asia at 7% and South America at 3%.

More than a third of the money raised coming from new LPs investing in IK funds for the first time, the firm added.

The fund will continue IK’s strategy of investing across its core markets of the Nordics, the DACH region, France and the Benelux.

It will target midcap companies in the business services, consumer and food, engineered products and healthcare sectors.

IK chief exec Christopher Masek said, “We are confident that the IK IX Fund is well positioned to leverage the strengths and experience acquired over 30 years in this new environment of change and opportunity.”

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