Axcel, the Danish mid market investor, has raised DKK2.6bn (approx E350m) for its third fund. The monies come from existing and new investors. Previous Axcel funds are Axcel IndustriInvestor (DKK1.1bn) and Axcel II (DKK2.5bn), following Axcel’s creation in 1994.
Investors that have so far committed to Axcel III, include; ATP PEP, Bestseller, Codan Pension, FIH, Finanssektorens Pensionskasse, Industriens Pension, Investeringsselskabet af 30.4.1992, KIRKBI, Lombard Odiér Darrier Hentsch, Lønmodtagernes Dyrtidsfond, Nordea Bank, Nordea Liv & Pension, PensionDanmark, PKA and RealDania.
Axcel invests in mid-sized companies that generally have turnovers of between DKK250m to DKK3bn to DKK4bn.
An experienced industrial board has been set to support investments in made by Axcel III. It includes; director Johan Schrøder (chairman of Dansk Industri) as chairman, managing partner Jens Bisgaard-Frantzen (ATP Private Equity Partners), group director Niels B. Christiansen (Danfoss), managing director Peder Damgaard Jensen (PKA), managing director Bent Pedersen (Kirkbi), director Johannes Poulsen (formerly Vestas) and managing director Jørgen Tandrup (Skandinavisk Tobakskompagni.)
Lawyer Ejvind Sandal continues to chair the boards of Axcel IndustriInvestor and Axcel II.