Accent Equity Partners, which grew out of the merger of Nordico and Euroventures in April last year, has announced the final closing on its first fund, called Accent Equity Partners 2003. The target of €200m was capped at €250m and fund raising was assisted by UBS.
The fund achieved first close by September 2003 on €100m, see EVCJ’s October 2003 issue p2. Approximately €100m of the total was raised from Nordic investors with the rest coming from mainly European fund-of-funds and some US institutions, although the fund was not widely marketed in the US.
To date the fund has committed to three investments. The first was in October last year in a company called Cefar, which operates in the field of electrotherapy. The second was in Wernersson Ost, Sweden’s biggest independent cheese supplier. And the third in July was a semi public-to-private on the Norway Stock Exchange of Jøtul, a manufacturer of cast iron stoves, gas stoves and inserts for fireplaces.