Final close for second Waterland fund

Dutch private equity firm Waterland Private Equity Investments has reached a final close on Waterland Private Equity Fund II (WPEFII) with commitments of €170m. The fund was launched in March 2003 and had two previous closings, both last year.

WPEF II was €20m oversubscribed, and has investors such as ATP Private Equity Partners, JP Morgan Fleming Asset Management, Delta Lloyd Private Equity, Horsley Bridge International and Henderson.

The fund will target controlling stakes in medium-sized companies in the Netherlands, Belgium and the German state North Rhein-Westphalia. It will concentrate on the outsourcing and leisure sectors, as well as involving itself in those companies providing services for people over 55.

WPEF II has already made two investments. The first was Harting Bank, a company active in mobility aids for the care sector and Fa-med, who deliver debtor management and administrative outsourcing for healthcare providers.

This is the second fund Waterland has raised, following Waterland Private Equity Fund I. This is a €50m fund with a 2001 vintage. It is 100% invested, 20% of which has been exited.

Mvision acted as placement agent.