Nordic Capital Closes Evolution II Fund at €2 Billion
Funding | Jan 15, 2025 | Rede Partners
Nordic Capital has successfully closed its Evolution II fund at its hard cap of EUR 2 billion within just four months, significantly exceeding its initial target of EUR 1.4 billion. The fund attracted excess demand and saw strong support from existing investors along with substantial new commitments from limited partners across Europe, the Americas, and Asia-Pacific. Rede Partners, acting as the advisor, facilitated this successful fundraising effort. Evolution II is focused on Northern European companies in sectors like healthcare, technology and payments, financial services, and services & industrial tech. It is an SFDR Article 8 fund, committed to sustainability, and aims for investments in companies with enterprise values between EUR 100 million and EUR 500 million. This is Nordic Capital's fourth fundraise with Rede Partners, showcasing their successful partnership since 2018.
Sectors
- Private Equity
- Investment Management
- Healthcare
- Technology & Payments
Geography
- Europe – 43% of the fund's capital was raised from investors headquartered in Europe, and the fund will target Northern European companies.
- Americas – 37% of the capital commitments came from investors in the Americas.
- Asia-Pacific and Middle East – 20% of the capital was raised from investors based in these regions.
Industry
- Private Equity – The article discusses Nordic Capital's successful fundraise, which is a private equity activity.
- Investment Management – The article involves fund management activities, including investment strategies and investor commitments.
- Healthcare – One of the focus sectors for the fund, leveraging strong secular tailwinds.
- Technology & Payments – One of the sectors targeted by the fund for investment, highlighting strategic interest in tech advancements.
Financials
- EUR 2 billion – The hard cap amount reached for the Evolution II fund.
- EUR 1.4 billion – The initial target amount for the Evolution II fund before it was exceeded.
- 65% – The size by which Evolution II exceeded its predecessor fund, Evolution I.
- EUR 1.2 billion – The amount closed for Evolution I in 2021.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Nordic Capital | Fund Raiser | Company | A private equity firm that has announced the close of its Evolution II fund. |
| Rede Partners | Advisor | Company | An advisory firm that partnered with Nordic Capital for the fundraise. |