Dutch firm Waterland targets $3bn for small buyouts fund

The firm mostly does buyouts in Western Europe, but has attracted interest from some North American LPs.

Waterland Private Equity Investments is targeting €2.5 billion ($3 billion) for its eighth flagship fund, according to documents posted on the Massachusetts Pension Reserves Investment Management Board.

The Netherlands-based private equity manager’s newest fund, Waterland Private Equity Fund VIII, will invest in small and mid-market companies, primarily in Western Europe.

According to its website, Waterland’s investment strategy focuses on a “pro-active ‘top-down’ analysis,” looking for industries it thinks have long-term potential. Some of the economic fundamentals it takes into account are an aging population, outsourcing and digitalization, leisure and luxury, and sustainability.

The firm has 75 investment professionals and offices in Belgium, the Netherlands, the United Kingdom, Germany, Switzerland, Denmark, Ireland and Poland. Based in Bussum, the Netherlands, the firm manages €6 billion ($7.2 billion) in commitments.

MassPRIM’s board approved a €65 million ($78.2 million) commitment to the fund at its meeting Tuesday. The $80 billion pension has invested in one previous Waterland fund. Investment officer Alyssa Fiore said the commitment to Waterland was part of staff’s initiative to commit to more firms that do small buyouts.

The fund has also received a €90 million ($108 million) commitment from Texas County and District Retirement System, according to its website.

Action Item: read Waterland’s form ADV here.