The new fund, which has a target size of 3.0 billion Danish Kroner, closed at 2.22 billion Danish Kroner (300 million euros).
In a statement by the Danish/Swedish private equity firm, Polaris said the fund became operational as of 1 January 2015, simultaneous with the expiry of the investment period for its Polaris Private Equity III fund.
The first a 2.22 billion Danish Kroner (300 million Euro)
“The new fund’s strategy is entirely consistent with that of its predecessor fund and seeks to build value in lower mid‐market Danish or Swedish companies,” a statement from Polaris said.
“[It will look to do this] through major operational improvements and professionalisation, extensive consolidation programs and pan-Nordic and international expansion,” it said.
Polaris managing partner Jan Johan Kühl said the fund has held a quick and strong first close, bringing it closer to its final target of three billion Danish Kroner.
“The support we have seen for this fund is a testimony to our approach and performance, and we look forward to working with our LPs for many years to come,” Mr Kühl said.
“We deliver strong returns to our investors, founded upon our philosophy of investing at disciplined valuations and using a well-defined, proven value creation model that combines extensive buy and build execution, hands-on operational impact and organisational development,” he said.