Insight

Norvestor amasses 1.5bn euros for ninth Nordic PE fund

Norvestor IX's LPs include endowments, foundations, government agencies, insurance companies, pension funds, fund of funds and family offices from the Americas, Europe and Asia.

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  • The fund is almost double the size of its predecessor fund, which closed at 806 million euros in 2021
  • Asante Capital Group was fundraising advisor while Fried, Frank, Harris, Shriver & Jacobson and BAHR acted as legal advisors
  • With offices in Oslo, Stockholm, Helsinki and Luxembourg, Norvestor invests in the Nordic services and solutions sectors

Norvestor has closed its ninth flagship fund at a hard cap of 1.5 billion euros, beating its target of 1.25 billion targets.

Norvestor IX’s limited partners include endowments, foundations, government agencies, insurance companies, pension funds, fund of funds and family offices from the Americas, Europe and Asia.

The fund is almost double the size of its predecessor fund, which closed at 806 million euros in 2021.

To date, Norvestor has completed over 80 platform investments and more than 400 add-on acquisitions.

“We experience that our consistent strategy, our consistent track record of building Nordic champions and strong team with local presence across the Nordics is appealing to investors as well as business owners that want a partner to accelerate further growth across borders,” said Lars Grinde, a managing partner at Norvestor in a statement. “We look forward to the journey ahead, supporting Nordic entrepreneurs in accelerating business development and creating profitable, sustainable growth.”

Asante Capital Group was fundraising advisor while Fried, Frank, Harris, Shriver & Jacobson and BAHR acted as legal advisors.

With offices in Oslo, Stockholm, Helsinki and Luxembourg, Norvestor invests in the Nordic services and solutions sectors